Residential Real Estate Trends To Watch In 2017

Market Conditions

It is an accepted rule within the real estate industry that the trends of today will eventually become the realities of tomorrow. Keeping this simple fact in mind it is easy to see why market conditions currently evolving in 2017 will have a big impact on buyers and sellers throughout the year and well into 2018. Here are a few trends in real estate at the national level that should be watched carefully by anyone purchasing a home in Washington State or anywhere else across the country.

Technology

Technology will continue to play a major role in how homes are bought and sold throughout the United States and around the world. Upgrading a home with the latest technology and state-of-the-art security as well as other modern conveniences can make a difference on how marketable a home ultimately becomes. Solar panels, homes that are highly automated and homes that make use of Internet equipped appliances will win the day in the current real estate market.

Pricing

One thing that can be said about modern real estate is that prices are always in a constant state of flux. While there are many predictions on where prices will go, ultimately the market predicts how homes will be best priced going forward. 2017 is expected to be a year where real estate prices will continue to increase as they did last year. However, price increases may be more intense in 2017 and going into 2018 as compared to previous years.

Communities

One trend that has been identified in 2017 that will likely become more pronounced later in the year and into the next year is that of “walkable” communities. As a growing number of young families flock to the suburbs, communities that offer many options for those who enjoy walking are becoming the new standard. In short, young upwardly mobile individuals are looking for homes in suburbia that are conducive to being in the great outdoors.

Millennials

Finally, at the end of the day one of the most powerful forces that will move Anacortes real estate markets and shape trends is that of the millennial generation. This demographic will likely power long-term demand for real estate for at least the next decade. Baby boomers and millennials make up the biggest group in history and will have a profound impact on real estate over the short and long-term. Many studies and statistics have indicated that roughly 1/3 of all homebuyers in 2017 will be comprised of baby boomers or millennials.

Contact Nicole Haun today to learn more about purchasing real estate in Anacortes, Oak Harbor or Mount Vernon Washington.

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