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Coworking leasing strong in Seattle and on the Eastside/1166/seattle-bellevue-9-17-18-coworking-leasing<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-conference-table.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1166/seattle-bellevue-9-17-18-coworking-leasingCoworking leasing strong in Seattle and on the EastsideThe combined Seattle and Eastside market is quickly approaching the 1.5 million square feet milestone for operational coworking space and the 2 million square feet mark for leased space at 1.43 million and 1.97 million square feet respectively.
Puget Sound region population growth among top 10 in US/1151/seattle-bellevue-9-10-18-population-growth<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-office-team-meeting.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1151/seattle-bellevue-9-10-18-population-growthPuget Sound region population growth among top 10 in USThe latest population data released by Office of Financial Management shows that the Central Puget Sound Region (King, Snohomish, Pierce, and Kitsap County) now has 4.13 million residents, adding 67,900 people year-over year.
Highest multifamily rent growth in the region is found in South King County and Pierce County submarkets/1134/seattle-bellevue-9-4-18-highest-multifamily-rents<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-multifamily-apartments.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1134/seattle-bellevue-9-4-18-highest-multifamily-rentsHighest multifamily rent growth in the region is found in South King County and Pierce County submarketsMultifamily rent growth has grown at impressive rates since 2015, increasing at an average of 7.4 percent year-over-year.
Tacoma housing costs increasing fastest amongst top 25 most populous cities in WA state/1121/seattle-bellevue-8-20-18-tacoma-housing-cost-increasing<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-close-up-red-door-with-lock.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1121/seattle-bellevue-8-20-18-tacoma-housing-cost-increasingTacoma housing costs increasing fastest amongst top 25 most populous cities in WA stateAt 14.8 percent Tacoma saw the highest home price increase amongst the top 25 most populous cities in Washington State from June 2017 to June 2018, according to Zillow.
Construction costs continue to grow in Seattle/1098/seattle-8-13-18-construction-costs<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-hands-banking-charts.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1098/seattle-8-13-18-construction-costsConstruction costs continue to grow in SeattleSeattle’s non-residential construction costs have seen accelerated growth in 2018, with a 3.0% increase quarter to quarter and a 5.6% increase year to date according to Mortenson Construction’s Cost Index Report.
Downtown Seattle captures largest deal and sets new pricing per square foot/1073/seattle-bellevue-8-6-18-downtown-largest-deal<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/abstract-modern-building-structure-jll.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1073/seattle-bellevue-8-6-18-downtown-largest-dealDowntown Seattle captures largest deal and sets new pricing per square footMore than $2.4 billion in office sales have occurred in the Puget Sound during the first half of 2018.