Big Changes Coming to Bellevue
A few weeks ago, Amazon released big news that it would no longer expand its second location to the city of Long Island, New York. The public awaited to hear where Amazon would instead expand HQ2 to - perhaps to one of the cities that were in the competition last year - but the tech giant recently released information that it would be expanding to a city closer to home: Bellevue, WA.
The original birthplace of Amazon is now slated to grow rapidly in the next few years. Bellevue already has thousands of technology real estate taken up by Facebook, Google, and Amazon and is a more expensive place to live than the city of Seattle. The housing market cool-down that we have see in the beginning of 2019 will heat back up quickly with Amazon’s new decision.
With the predicted growth in Bellevue over the next few years, the housing market will change in a couple ways. First, more people will be looking to buy in and around the city of Bellevue, which will increase the median home price in the city. Second, the demographics of people choosing to live in Bellevue will change, which in turn will change the design style of new developments. The city will see an increase in millennials purchasing homes in the area - which will create a demand for new, modern spaces and result in a growth in tear-downs in the area.
So, if you’re planning on buying or selling in Bellevue in the next few years please reach out. I am more than happy to help you navigate the changing real estate environment that technology is leading in Bellevue.