On June 17th, Annie Zak from The Puget Sound Business Journal published an article in recognition of millennial buying power, entitled "Selling Seattle: The neighborhood drawing most interest from Bay Area buyers isn't Capitol Hill, Queen Anne or Ballard."
Zak writes that "when it comes to residential real estate, West Seattle is booming, especially for people leaving the San Francisco Bay Area. What might surprise you further is that millennials are becoming a bigger group of home-seekers in the area."
According to Zak, "The Seattle Times recently reported that 13 percent of recent Redfin search activity from Bay Area residents looking to move here was for homes in West Seattle, making it the No. 1 neighborhood in the city." Further, there is certainly a millennial appeal in West Seattle neighborhoods, as they "provide access to Alki Beach, hip bars and restaurants, the C line bus (which goes straight to downtown) and ferries to nearby islands."
So what does all this mean? Well, as listing prices increase, Zak says "a San Francisco-like home market . . . seems plausible, given that Seattle's home prices are already rising faster than almost every other U.S. city's."