King County Rental Update: October

shorewoodAvailable rentals this fall are dropping like the temperature outside as we take a look at the housing market in Seattle’s King County. As expected people are likely settling in for the winter months and not in search for a new place. With a significant drop in rented properties, Seattleites are seeing a whopping 47% decrease in October compared to the previous month according to data from the Northwest Multiple Listing Service. It’s typical to see this kind of change in the market throughout the season but what will that mean for the prices of rentals for those who are still in the market to rent? Are rental increases going to halt with less demand or will they continue to stay up? The MLS shows us that in October the highest priced rental property was a 4 bedroom, 3.5 bathroom home with 4,250 square feet of luxury living space. Stay tuned-in to Seattle Luxury Rentals and keep an eye on this rental market. Questions? Call a local agent today to take advantage of rentals or investment opportunities that could be available to you.

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