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The Emergence of Submarkets in the Real Estate Market
In today's episode, Matt and Garrett continue the discussion on market narratives, particularly those aspects surrounding the real estate market. They discuss submarkets which mean markets that are near each other but are not the same and how that translates into all the assumptions buyers and sellers are making about marketplaces.
They start off by giving a comparison between Seattle and West Seattle, with the latter having a 5% appreciation and the former having a 1% appreciation on homes in the market - West Seattle becoming a submarket of Seattle which is the main market. The hosts talk…
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