What suburb will still be affordable in 10, 20 years?

[RustinginSeattle]

Bremerton prices remain low. The Kitsap Peninsula, except Bainbridge, is a great place to look for affordable housing. It's a sucky commute to Seattle, though. I did it for 1.5 years and I don't recommend it.

[mkarch]

Originally Posted by civic94

In other cities places like these places slowly get gentrified, all it takes is 1 person to live there, and slowly others will follow. the folks who live there will move to a cheap suburb and then that suburb will become a "bad area".

I can see that the CD will become expensive sooner or later, its just too close to DT for it to remain the way it is.

As it is, it's already relatively expensive. $385/sq ft is pretty high in comparison to other neighborhoods of a similar age/condition of housing stock. That's in line with Wallingford or Greenlake pricing. The days of buying an old un-renovated house in the CD for cheap are mostly gone.

Overview of 98122 Real Estate Trends

Median List Price $520K
Median List $/Sq Ft $410
Median Sale Price $491K
Median Sale $/Sq Ft $385
Median Sale / List 102.9%
Avg. Number of Offers 3.2
Avg. Down Payment 31.7%
Number of Homes Sold 110
Calculated using the last 90 days

[Ira500]

Originally Posted by mkarch

As it is, it's already relatively expensive. $385/sq ft is pretty high in comparison to other neighborhoods of a similar age/condition of housing stock. That's in line with Wallingford or Greenlake pricing. The days of buying an old un-renovated house in the CD for cheap are mostly gone.

Overview of 98122 Real Estate Trends

Median List Price $520K
Median List $/Sq Ft $410
Median Sale Price $491K
Median Sale $/Sq Ft $385
Median Sale / List 102.9%
Avg. Number of Offers 3.2
Avg. Down Payment 31.7%
Number of Homes Sold 110
Calculated using the last 90 days

I agree that the CD has already become expensive. But smaller houses always sell for more per square foot, and the CD has a lot more smaller houses than Wallingford or Greenlake, so it's not really a fair comparison.
I think if you found the same house in Wallingford and the CD, the one in the CD would sell for 20% less. But it's still expensive.

[NoNansea]

What's the CD?

[amaiunmei]

Originally Posted by NoNansea

What's the CD?

Central District

[Count David]

Originally Posted by Ira500

What's going to happen to these places? Are richer people going to move there, because of their proximity to jobs? and if that happens, where are the people going to go who currently live there?

Tacoma.

[ilovekotatsu]

Originally Posted by David Aguilar

Tacoma.

Agreed.

[NoNansea]

Originally Posted by amaiunmei

Central District

Thank you. Where is that? I'm still learning about the various areas of Seattle as well as all of Washington. I'm one who has come late to the state. However, I'm not one who wants to change things here. I did move from my home state (for 60 years) partly due to the encroaching concrete, constant influx of people creating overcrowdedness, police/Nanny state, political dominance to the detriment of it's citizens. No way do I want any of that here!

[Haakon]

Originally Posted by NoNansea

Thank you. Where is that? I'm still learning about the various areas of Seattle as well as all of Washington. I'm one who has come late to the state. However, I'm not one who wants to change things here. I did move from my home state (for 60 years) partly due to the encroaching concrete, constant influx of people creating overcrowdedness, police/Nanny state, political dominance to the detriment of it's citizens. No way do I want any of that here!

You should want to change things here, its been that way here for a very long time and getting worse every year, but most Seattlites don't see it that way since they elect the politicians and push policies causing it.