Rob Smith from The Puget Sound Business Journal reports that "the apartment vacancy rate in King and Snohomish counties has dropped to 4.05 percent, the lowest since the Seattle company Apartment Insights Washington began tracking the market 10 years ago. Rents, however, are surging. Average rent rose more than 6 percent to $1,408 per unit when compared to the previous quarter, and "rents have increased 10.4 percent the past year."

Smith's article covers a few highlights from the market analysis:

The average rent in Bellevue is now slightly more than $2,000 per month.
At an average of $2,226 per unit, rents in Seattle remain the highest in the region.
Average rents in Des Moines and Edmonds cracked $1,000 per month for the first time.
The Ballard neighborhood has the highest vacancy rate, 17.3 percent.

Rising rents vs. low interest loan options mean that buying now could not only help you build your own equity and financial portfolio, but could actually save you money.

Check out our rent vs. buy calculator for more information >>>

The much anticipated Book of Lists for 2015 will soon be published by the Puget Sound Business Journal but the results are already in for the Largest Residential Real Estate Firms in Puget Sound (ranked on residential sales volume for 2014). Realogics Sotheby’s International Realty (RSIR) improved its position from #10 in 2013 to #6 in 2014, according to the survey results. With $560 million in gross sales volume represented by just 111 active brokers and three branch offices in 2014, RSIR is now acknowledged among the most productive, fastest growing and largest brokerage firms in the region.

“We are proud to join our many peers amongst the largest brokerage firms in the region – congratulations to all of the companies that made the list,” said Stacy Jones, Owner of RSIR. “Yet we are even more proud of our many fine brokers and we thank them for their tireless efforts every day. This is really their acknowledgement and we are the ones that privileged to work alongside their success.”

Jones states she has no illusions about being the largest real estate organization in the region nor having the most brokers. Her goal is to make a meaningful difference in her broker’s business and to optimally represent the interest of their clients – one sale at a time.

“Our growth in the region has always been very organic,” says Jones. “While we are always open to new business ventures and new brokers we find the best opportunities are referred to us by our current brokers and even from other brokers at other companies. We are fortunate to have a distinguished ourselves from the pack in just five years of operations. We like being innovative and creating a new model in the industry.”

NOTE: RSIR is an independently owned and operated franchise network with branch offices in downtown Seattle, Bainbridge Island, Kirkland and coming soon in Issaquah. Unlike the other franchise networks surveyed, the statistics do not incorporate the production from other Sotheby’s International Realty affiliates in Washington State.

Skyrocketing Rents Mean Purchasing Can Save You Money

The PSBJ Lists Realogics SIR as the Sixth Largest Residential Real Estate Firm in the Puget Sound (Sales Volume 2014)