Get ready Bellevue … here comes Amazon! The tech giant is showing signs of cooling in Seattle and focusing more on nearby cities throughout the Eastside which many predict could set off a “real estate frenzy” in Bellevue. Soon, Bellevue may see younger buyers flood the market who are looking to live closer to work. Experts predict that the cool down in Bellevue’s housing market that we are seeing now, will be short lived thanks to Amazon.
Bellevue has always been home to many tech working companies but recently it has become an even larger tech hub with larger giants like Google and Facebook who also are planting their flags in Bellevue just in the last few months.
Because Amazon is just beginning to grow on the Eastside, there is not much data to prove this predicted change in the market quite yet, however, there are many trends we are already seeing: an increase in millennial home ownership on the Eastside, many teardowns to accommodate new construction, and many existing homeowners moving up while holding on to and renting out their old homes. Amazon growing in Bellevue will create a different type of buyer that Bellevue has not seen before. These buyers are looking for new, modern, high-tech construction homes.
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