Video Transcript – December 2024 Seattle Rental Market Update:
Aaron Janus: OK– Let’s take a look at the local rental market conditions. As you know, the RE/MAX Integrity Property Management team has their pulse on the Seattle area rental market, so for those of you who are interested in owning rental property and curious about what rental rates look like around the area, here are some stats for you: as you can see, vacancy rates, county–wide are sitting just about 3.725%, which is up a little over last month, yet still around .025% down over the same time last year. Average market time is 26 days, which again is up from 24 days last month, yet down 3 days from a year ago. So, while we’re seeing that typical seasonal slow down, the numbers have improved over last year.
Average Rent on a 3-bedroom single family home in King County is slightly lower this month, at just under $3800 across the County.
If you are curious about the rental market, or know of anyone interested in exploring real estate, and the amazing investment opportunity that it is, please have them reach out to our PM team at RE/MAXIntegrity Property Management.
