YES.
Over the last 120 days, million dollar condos in Seattle are selling at a record pace. Nearly 4 units per month. In addition to the 14 sales, 6 other units are pending (under contract) as we speak.
We’ll focus on sold data. Out of the 14 sales, the average square footage was 2,064. The lowest priced unit sold for $1,062,500 and the most expensive unit was $4,250,000. The average sale price was $1,742,816 ($815 per sq. ft.) All 14 sales were in buildings that were 2006 or newer. Clearly new construction or “like new” condition was a trend. The average time on market before these units sold was 215 days and sellers received 89% of their asking price (average).
I’ve included the project, price and square footage information below
Million Dollar Condo Sales In Downtown Seattle
| BUILDING | STATUS | SQUARE FOOTAGE | SALE DATE | PRICE |
|---|---|---|---|---|
| 1521 Second | Sold | 3,600 | 03/14/12 | $4,250,000 |
| 1521 Second | Sold | 2,658 | 12/19/11 | $3,045,000 |
| Olive 8 | Sold | 2,224 | 03/07/12 | $2,250,000 |
| 1521 Second | Sold | 1,890 | 03/12/12 | $1,796,930 |
| 1521 Second | Sold | 1,968 | 02/02/12 | $1,700,000 |
| 1521 Second | Sold | 1,644 | 03/16/12 | $1,550,000 |
| Escala | Sold | 2,442 | 12/29/11 | $1,525,000 |
| 1521 Second | Sold | 1,968 | 03/20/12 | $1,400,000 |
| Olive 8 | Sold | 1,534 | 12/31/11 | $1,250,000 |
| 1521 Second | Sold | 1,968 | 03/20/12 | $1,200,000 |
| Madison Tower | Sold | 1,769 | 12/23/11 | $1,200,000 |
| Olive 8 | Sold | 1,534 | 12/01/11 | $1,150,000 |
| 1521 Second | Sold | 1,968 | 01/05/12 | $1,100,000 |
| 1521 Second | Sold | 1,729 | 01/09/12 | $1,062,500 |
Here is a list of the pending sales (million dollar units under contract)
Million Dollar Condo PENDING sales In Downtown Seattle
| BUILDING | STATUS | SQUARE FOOTAGE | DAYS ON MARKET | PRICE |
|---|---|---|---|---|
| Madison Tower | Pending Inspection | 2,850 | 696 | $4,495,000 |
| 1521 Second | Pending | 2,658 | 195 | $3,950,000 |
| Olive 8 | Pending Inspection | 2,224 | 27 | $2,595,000 |
| 1521 Second | Pending | 1,890 | 303 | $1,695,000 |
| 1521 Second | Pending | 1,968 | 122 | $1,649,000 |
| 1521 Second | Pending | 1,644 | 263 | $1,175,000 |
SEARCH DOWNTOWN CONDOS
photo c/o Realogics
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