Seattle’s median home price has reached a record $575,000, which is double than the national figure.
The driving force, according to Bloomberg Business, are buyers from China and workers of the tech industry. “We will be like San Francisco in five years,” Lili Shang, the Realogics/Sotheby’s International Realty agent, told Bloomberg Business. “It’s a new era.”
The city’s clean air, scenic views, and good school districts have attracted companies such as Google and Alibaba Group to open up satellite campuses there. Native companies such as Amazon, Microsoft, Zillow, and Expedia also continue to grow.