5 Upcoming Real Estate Trends and Developments in the Snohomish Area and Beyond
April 27, 2023
Have you ever started a new job or gone on a first date, wondering what the future may hold? Will it be the start of something beautiful, or will you quickly be back outside looking around for something new? Well, much like the worlds of dating and job hunting, the real estate industry is a non-stop roller coaster of excitement, uncertainty, and ever-changing real estate trends.
As your local guides, it’s our job to ensure that you’re keeping pace with any and all upcoming developments in the real estate market. So grab yourself a seat and a cup of coffee as we pull the thread on what the future might hold for Snohomish County and beyond.
We’ve all heard parents and grandparents tell stories about how they got their first apartment or house when they were younger. It appeared to be a very straightforward process: find a house, sign the papers, and move in.
Hopping forward to the good old 2020s reveals that the current housing market trends more closely resemble an episode of Black Mirror. Although things may seem spooky at times, the fundamentals of real estate will always prevail. We’re here to help ensure that the complex market is put in the simplest terms possible to ensure your success every step of the way.
1. Technology: Here to Stay and Evolve
It wasn’t that long ago that we all thought online dating was weird. Now, the tables have turned, and those who don’t participate are seen as anomalies.
In a similar manner, technology is rapidly changing the way that we look at trends in real estate. To name a few…
- Virtual reality tours
- Blockchain transactions
- AI-driven analytics on pricing
These are but a few examples of how the real estate industry’s trends are shifting toward being more tech-forward. Snohomish County, as a forward-thinking community, will likely be at the forefront when it comes to embracing these changes.
2. Green Living: Not Just for Hippies Anymore
Gone are the days when only specialty groups looked for eco-friendly and energy-efficient homes. As the world becomes far more conscious of its carbon footprint (both macro and micro), markets trend toward prioritizing homes that are environmentally beneficial or carbon neutral.
Here at Gilpin, we see more buyers asking for solar panels, smart thermostats, and homes built with sustainable materials. So if you’ve got plans to buy or sell in Snohomish, going green is going to be weighted much more heavily.
3. Work from Home: Pajamas All Day, Every Day
We bet you had no idea how much you appreciated working in your pajamas. Well, if there’s one thing that the pandemic taught us, it’s that comfort is king.
Since 2020, the rise of remote work has been terraforming real estate trends as people prioritize homes with dedicated office spaces, speedier internet, and convenient proximity to coffee shops for those much-needed caffeine fixes and “remote work” sessions.
Good news! Snohomish, with its small-town charm and thriving local businesses, is one of the most ideal backdrops for the modern work-from-home lifestyle.
4. Space, the Final Frontier
No, we’re not talking about moving to Mars (although a certain space-forward billionaire might have something to say about that).
Rather, we’re referring to the surging demand for outdoor spaces and larger homes. With people spending more time at home, properties with ample room to work, live, and play are largely in demand. And Snohomish County at large, with its picturesque landscapes and spacious properties, has more than enough inventory to meet this demand.
5. The Boomerang Effect: There’s No Place Like Home
It’s a common mantra nowadays that “adulting” is hard. As more young adults choose to move back in with their parents, we are seeing a significant impact on real estate industry trends.
There’s a distinctive rise in multigenerational living situations. With our area’s strong sense of community and family-forward thinking, areas like Snohomish, Arlington, Lake Stevens, and beyond all make ideal locales for families that are looking to come together under one roof.
Therefore, as we are on the cusp of a new era in real estate, it is essential to keep abreast of the market as it evolves. Real estate in Snohomish can be both exciting and intimidating, but if you keep up with these trends, you’ll have a far higher chance of success.
Whether it’s a quaint house or a sophisticated apartment, we’re here to help you find everything that you need. Click here to get in touch with us today!