A few months back I posted the first set of “A City Sample of Seven and Change“. I thought it would be interesting to see what has changed in the last 9-10 months. I think you will find it as interesting as I did.
Take a look at the updated list below. You’ll see what $700,000 and change will get you in the city. Similar to last time, the sample is within the price range of $700,000 to $800,000. The lists consists of only 2 bedroom condos and they range geographically, but all of them are in the “downtown Seattle vicinity”.
| Belltown $738,000 | 2607 Western Ave 1001 |
| Belltown $795,000 | 81 Vine St 300 |
| Belltown $799,990 | 2621 2nd Ave 1105 |
| SLU $715,000 | 820 Blanchard St 1706 |
| SLU $775,000 | 900 Lenora St W1101 |
| Denny $775,000 | 737 Olive Way 1905 |
| DT $749,000 | 98 Union St 1106 |
A lot of things can happen in 10 months. As we compare this sample to the last, although it may be stating the obvious, there has been an overall recognition of the market conditions. In my opinion, the 50-60% decrease in inventory in this price point is reflective of the following:
- cancellations
- extended “pending” sales due to short sales
- A few solds
- units being rented out
- foreclosures
- owners waiting until 2010
- large price adjustments
I would be curious to get your opinion as well. Are we seeing better inventory at more affordable pricing?
[mappress]
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