One developer paid $7.8m for a 0.09 acres lot ($80m an acre) to buy a triplex near our house. The triplex itself wasn't worth anything. They just wanted the lot so they could build a 24 story apartment building. People in the Puget Sound have to move far away from Seattle if they want an affordable house. The closer you get to downtown the more expensive the houses get.
when the seattle region employers started allowing more staff to work remotely during the height of covid and then decided to permit it on a more permanent basis our region (eastern side of the state) got a massive influx of home buyers. no wonder-the prices here are much lower than on the west side though that influx has driven the cost/demand here through the roof as well. even those that have to make an appearance in their west side offices 2 or 3 days a week are finding that they can take a flight from spokane to seattle in under the amount of time it took them to commute within mere miles of their homes over there.