Real Estate in the Pacific Northwest
While increases in overhead costs remain a constant concern for regional business owners, Andrew Mayer, President and CEO of the Mount Vernon Chamber of Commerce reports, “2017 was a period of consistent growth in all sectors of business in the Mount Vernon area.” Due to increased demand for homes but low inventory throughout Skagit County, he said, “residential real estate was particularly hot”. “Our downtown … continues to see new investment as evidenced by commercial building sales and new businesses,” which Mayer credits to the recent completion of their flood wall and subsequent anticipated removal of the current mandate requiring flood insurance for downtown Mount Vernon businesses.
Real estate in Whatcom County was also busy. Realtor, Janaya Goselin of Keller Williams Western Realty says, “We are continuing to battle supply and demand.” Building slowed for a number of years following the crash she says, and much like Skagit County, “lack of inventory has led to many multiple offer situations as well as continued increases in home values.” We’re seeing a lot of relocation happening in response to Seattle’s growth and ‘crazy home prices,’ Goselin remarked, “A lot of people are willing to commute – even from Bellingham.”
(Source: What’s Your Perspective? 2017 Year in Review)