Dylan Simon -- Colliers International
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Dylan Simon -- Colliers International
I specialize in the sale of apartment buildings in Seattle and the greater Puget Sound region. I focus on the sale of both apartment buildings and developable land ranging from $3M to $100M. I am passionate about real estate investment and development, economics, technology and urbanism. Through brokerage I assist apartment investors and developers in achieving the highest possible levels of return and build an advisory relationship that lasts ownership life-cycles instead of just a transaction.
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Seattle Metro Report: June 2018

Seattle Metro Report: June 2018 | Dylan Simon -- Colliers International | Scoop.it
Check out the latest Seattle Metro Rent Report for June 2018 to see the most and least expensive cities and cities with the fastest growing rents.
Dylan Simon's insight:

Seattle Area Rent Growth - The Fastest Growing Cities (Y/Y%)

–Kirkland, WA had the fastest growing rent since this time last year, up 15.7%.

–Burien, WA rent had the second largest year over year growth rate, climbing 15.5%.

–Puyallup, WA ranked as third with rent growing 14.3%.

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Looking to Upgrade? Here's How Much It Costs to Rent a High-End Apartment Around the Country

Looking to Upgrade? Here's How Much It Costs to Rent a High-End Apartment Around the Country | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

“The national average rent in a high-end building is around $1,640 per month, about $490 more than an apartment in a low-end building. However, these broad-based averages do not mean much, as prices can vary by thousands of dollars from one city to another.”

Seattle Statistics:

Average rent in a high-end apartment: $2,261

Price range: $1,723 (studio) to $3,595 (3-bed)

Change in high-end rents in the last 3 years: +13.2%

Price difference compared to a low-end apartment: $644

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Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine | Multifamily Trends, Absorption Rates, Occupancy and Vacancy Rate, Apartment Trends, Supply and Demand, Rental Market

Apartment Completions Reach 30-Year High in 2017 | Multifamily Executive Magazine | Multifamily Trends, Absorption Rates, Occupancy and Vacancy Rate, Apartment Trends, Supply and Demand, Rental Market | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Seattle comes in at #6 for Metro Apartment Supply Leaders in 2017, with 11,415 units delivered in 2017 according to RealPage – and there’s plenty left in our pipeline!

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Exclusive Research: Clear Sailing for the Industrial Sector through 2018

Exclusive Research: Clear Sailing for the Industrial Sector through 2018 | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Industrial is the new industry buzzword: "Whether it comes to occupancy rates, rents or even cap rates, sentiment has improved from a year ago. In addition, fewer respondents are worried about the potential for overdevelopment, with a substantial minority worried that, in fact, too little new construction is taking place."

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Watch for the Rise of Suburbia and More in 2018

Watch for the Rise of Suburbia and More in 2018 | Dylan Simon -- Colliers International | Scoop.it
There are two “interesting shifts” at hand.
Dylan Simon's insight:

This rings especially true for Seattle's suburbs as renters seek lower rents and developers face challenges with City regulations: "This is an interesting shift in suburban demographics that will increase demand for suburban multifamily, which will outperform the high-end urban multifamily market, where rents have peaked due to excess supply and affordability challenges."

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Once Hot Seattle Apartment Market Hit by Onslaught of Supply - The Registry

Once Hot Seattle Apartment Market Hit by Onslaught of Supply - The Registry | Dylan Simon -- Colliers International | Scoop.it
Metropolitan Seattle, South Lake Union, Amazon, Apartment Insights, Seattle Metro, housing shortage, San Francisco, median wage
Dylan Simon's insight:

As Zillow reports that rents in Seattle are expected to climb 3.5% in 2018, Apartment Insights sees supply outpacing demand for high-end buildings with 50+ units, causing average rents to fall: “In Q4, the average monthly gross rent fell 2.9% from the prior quarter.”

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Zumper National Rent Report: January 2018

Zumper National Rent Report: January 2018 | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Overall, the national one bedroom rent grew 2.1% to $1,255, while two bedrooms increased a slight 0.2% to $1,388. On a year over year basis, one bedroom prices are up 9.8%. Two bedrooms had a smaller yearly bump, growing 2.2%."

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Apartment Market Weathers the Storm of New Supply

Apartment Market Weathers the Storm of New Supply | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"High occupancy rates are helping keep apartment rents high and rising. 'Rent growth—while below the cycle’s peaks—has outperformed many investors’ expectations,' says Willett. Same-property rents for new leases climbed 2.6 percent in first quarter compared to the year before. That’s about the same as the rate of rent growth has been over the last four quarters, according to RealPage."

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Yardi: Multifamily Rent Growth Stays Strong in April | Multifamily Executive Magazine | Rents, Rent Trends, Apartment Trends, Supply and Demand, Economic Conditions, Economics, Rent Growth, Rental ...

Yardi: Multifamily Rent Growth Stays Strong in April | Multifamily Executive Magazine | Rents, Rent Trends, Apartment Trends, Supply and Demand, Economic Conditions, Economics, Rent Growth, Rental ... | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Gains in high-growth Western tech markets, including San Jose, Calif.; Seattle; Denver; and San Francisco, were at above-trend levels in the latest three-month period following a longtime deceleration trend from 2015 to 2017.

 

On a trailing three-month (T-3) basis, which compares the past three months to the previous three months, rents increased by 0.3% at the national level. San Jose led the nation, with 0.7% rent growth on a T-3 basis, while Chicago, Denver, and Seattle bounced back at 0.4% after short-term rent declines in late 2017 to early 2018."

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Yardi: Rents Rise 2.8% Year-Over-Year Through January 2018 | Multifamily Executive Magazine | Economic Conditions, Rents, Supply and Demand, Research, Occupancy and Vacancy Rate, Economics, Local M...

Yardi: Rents Rise 2.8% Year-Over-Year Through January 2018 | Multifamily Executive Magazine | Economic Conditions, Rents, Supply and Demand, Research, Occupancy and Vacancy Rate, Economics, Local M... | Dylan Simon -- Colliers International | Scoop.it
Matrix Monthly report predicts metro-level multifamily rent growth will trend toward the median in the coming year.
Dylan Simon's insight:

Hold out judgement on slowing rent growth for Spring! "YOY rent growth has remained between a high of 3.0% and a low of 2.4% in the past year, following two years of above-trend increases. Yardi expects rent growth to remain in the 2.5% range but believes the next few months will provide a better idea of rent trends for 2017, as rent-growth trends flatten during the winter."

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Apartment Rents Rise in 89% of Cities

Apartment Rents Rise in 89% of Cities | Dylan Simon -- Colliers International | Scoop.it
Citing Yardi Matrix data, RentCafe reported Wednesday that rents grew year over year in 89% of the 250 largest US cities during January. Nine percent registered flat growth for the month, while just 2%, or six cities, experienced a Y-O-Y decline.
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The Bigger Picture Revealed by This Homebuying Stat

The Bigger Picture Revealed by This Homebuying Stat | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"The finding that 64% of the population lives in markets that are more affordable to rent than buy, showing that homebuying will continue to be an uphill battle in 2018."

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Does Multifamily Have Distinct Pricing Personas?

Does Multifamily Have Distinct Pricing Personas? | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

Have you developed pricing personas to tailor your apartment sales strategy? – “In the end, the revenue management strategy an operator pursues at a community is forged by a number of factors, including the condition of the surrounding submarket, how long an owner intends to hold the property, and the owner's general appetite for risk.”

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Seattle-area rents drop significantly for first time this decade as new apartments sit empty

Seattle-area rents drop significantly for first time this decade as new apartments sit empty | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Rents sometimes drop by a few bucks this time of year. But the latest quarterly drop is the biggest this decade by far, and amounted to a savings of about $50 a month for the average renter across the region."

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Report: 2017 Seattle rent increase among the steepest in country

Report: 2017 Seattle rent increase among the steepest in country | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Seattle saw rent prices grow 13.5 percent, putting it ahead of already-pricey cities such as Oakland (which saw a 4.7 percent increase), Honolulu (8.1 percent) and Washington, D.C. (12.7 percent)."

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Another Way To Look At Affordability

Another Way To Look At Affordability | Dylan Simon -- Colliers International | Scoop.it
Dylan Simon's insight:

"Now comes a report from RENTCafé, which looks at the same issue through a different filter: the strain that holiday expenditures put on a renter’s budget. It has found that the average American renting family cannot afford the holidays without $549 in savings."

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