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Kidder Mathews Releases Puget Sound Apartment Market Research

Kidder Mathews’ multifamily team, led by Dylan Simon and Jerrid Anderson, has released its third-quarter market research on the Seattle and Puget Sound apartment markets.

Although sales volume was up quarter-over-quarter, the first half of the year saw an over 50% drop from previous averages. Meanwhile, rental rates across the region remain largely flat with some markets showing 2% to 3% growth compared to the last quarter — but still posted declines compared to 12 months ago.

“The attractiveness of Puget Sound — for both employees and employers — keeps the market afloat as far as jobs and incomes are concerned. At the same time, apartment investors continue to wait to find a bottom, which massively affects sales volume,” said Simon. The report analyzes current market trends and 17 years of historical data for rental and vacancy rates and sales across the four major Western Washington counties: King, Pierce, Snohomish, and Kitsap.


Inside The Story

Kidder Mathews

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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