The Seattle Seahawks and the New England Patriots are soon to kick off Super Bowl LX at Levi’s Stadium in Santa Clara, California, for the 2025 edition of America’s biggest game. Almost as important is the Transwestern Research Multifamily Super Bowl, which compares two of our top 10 multifamily markets: the Seattle and Boston metro areas. Could this be an indication of who will win the big game?
Seattle Wins a Close One!
Seattle’s strong 2025 investment sales market proved too much for Boston to overcome, despite some good statistics and healthy trends in building performance metrics.
Seattle has seen seven consecutive quarters of year-over-year investment sales volume growth, which has lifted the market nationally from 12th in 2023 and 10th in 2024 to the 3rd-largest market by sales volume in the United States. Seattle’s 54% year-over-year increase in 2025 was the third-largest increase in the top 25 metros, trailing only Northern New Jersey (116%) and San Jose (73%).
Boston has seen very consistent investment sales activity over the last three years, ranking between 7th and 9th in national sales volume each year. In 2025, Boston saw a 22.8% increase in single-property sales, a generally healthy sign. Boston’s 4.4% vacancy rate sits below the national average and boasts a solid construction pipeline.
Two strong multifamily markets made for an interesting Multifamily Super Bowl! Teams to watch out for next season include the ten-year-running top multifamily investment market, the Dallas Cowboys, the #2 Atlanta Falcons, and the Chicago Bears.
Based in Atlanta, Spencer Papciak is the National Multifamily Research Leader. He oversees multi-market data and analytics, delivering strategic market intelligence to Transwestern teams, clients and partners across the platform.
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Spencer Papciak
Director of Research - Southeast | National Multifamily Research Leader
Atlanta, Georgia
