Full Price or Above Asking For Seattle 1 Bedrooms?

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Had a question from a reader this week about how often condos are selling for full price or above the asking price. I pulled the last 30 days of sales in the downtown Seattle market and this is what I came up with. In the $500,000 price point ($500,000 or less): There were 23 sales of 1 bedroom units - of those 23 recorded sales 13 or %50 of them were sold at full price … [Read more...]

High Rise vs. Low/Mid Rise – Downtown Seattle (Average Price Per Square Foot)

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Unit #1901 at the Cosmo just hit the market for first time since it sold back in 2007.  In March of 2007 it sold for $585,000. 6 years later, it's now listed at $575,000 -  $586.73  per square foot.  This had my wheels turning about the difference in price per foot when comparing high-rise to low/mid rise. I pulled a sample set of Seattle condo sales for 1 bedoom units in … [Read more...]

Downtown Seattle Inventory, What’s Left?

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The number of active condo listings in Downtown Seattle is now down to 80 - that is 80 listings total. Prices of available inventory vary from $129,900 to $8,000,000. In the last 30 days, there were 45 sales in Downtown Seattle. That is a 50% increase from what sold between Feb 1st and March 1st.     Search the Downtown Condo Inventory … [Read more...]

Seattle Condos Selling While Facing Lawsuits

The Parc Exterior

Condos located in buildings that are facing lawsuits are still selling - how you ask? The contracts are ALL CASH.  As we've mentioned in the past, most major lenders will not touch projects facing lawsuits. With that said, nothing holds an investor back from paying all cash and bypassing a loan. In fact, in the last week alone, there have been 2 sales in buildings with … [Read more...]

Seattle Condos Facing Lawsuits, Arbitration and Mediation

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Are you a frustrated condo buyer or seller? Well, it could have to do with the amount of quality Seattle condo projects currently involved in lawsuits or arbitration. The core of the issue is the Washington Condominium Act. It is very difficult to summarize, but in a nutshell there are provisions of the act that require certain warranties that a developer must comply with … [Read more...]

Thinking About Selling Your Downtown Seattle Condo? Read This

HEAT CHECK - SEATTLE CONDOS

Are you thinking about selling your Downtown Seattle condo?  Do it. Let me explain why. The market has been favorable to sellers. In the last 60 days there have been 72 sales. They range from a 1 bedroom unit in Belltown selling for $128,000 to a luxurious 2 bedroom in Madison Tower at $1,850,000. More important than the sales numbers or types of units sold is the list … [Read more...]

The Top Fifteen Most Expensive Condos For Sale In Seattle

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1) Millennium Tower Unit 2001 - Downtown Seattle - Asking Price $8,000,000 Size: 9,876 | Price per square foot: $810.04 Bedroom: unlimited | unlisted See more photos Number 1 on our list is the penthouse at the coveted Millennium Tower. Built in 2000, Millennium Tower has been home to coffee mogul Howard Schultz and many other Seattle elite. The building offers just 19 … [Read more...]

Vulcan Offers $2 Parking In South Lake Union

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Let's put another feather in South Lake Union's cap. In a recent press release, Paul Allen's Vulcan Real Estate announced that four garages in the growing and uber-popular neighborhood will offer $2 parking on weeknights and weekends. I think the announcement is brilliant and if I were a business owner in the busteling neighborhood a thank you note would be in the mail for Mr. … [Read more...]

Seattle Home Prices On The Rise, Double Digits

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Courtesy of Aubrey Cohen at the Seattle PI, the numbers are in for May and Seattle home prices have risen 10.5% since last year. The median price for a home in the City reached $425,500 in May. That is up from $385,000 a year ago. Pending home sales were up by 16.2%. This is not a surprise to me. Buyers have been frustrated with the lack of inventory and quite a few of my … [Read more...]

Queen Anne Colonial Goes For $102,500 Over Asking Price

Queen Anne Colonial

Bidding wars?  Try this Queen Anne Colonial that started at $1,000,000 and ended at $1,102,500 - now that is a buyer that really wanted this house. The market is clearly picking up steam and if you ask anyone in the business, they will tell you the same thing. Most brokers representing buyers are getting exhausted of pre-inspections, multiple party offers and disappointment … [Read more...]

The Amazon “Effect”, Seattle Growth

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I came across an article this morning that sums up the Seattle growth story and the impact that companies like Amazon are having on our local economy. It is a lengthy piece, but well worth the read. We often talk about the Amazon impact on South Lake Union and Seattle as a whole. This particular piece really delves into the growth story and shares the intimate details. I've … [Read more...]

Bank Owned Loft, Once Listed At $2.45 Million, Now Selling At $1,549,000

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Do you remember this unit?  We wrote about it back in October of 2011 just before it went to the public foreclosure auction. It is a 3,798 square foot loft in the Banner Building in Belltown.  It was once listed as high as $2,450,000 and now is selling it for $1,549,000. This unit is insane. Although the pictures don't reveal much, I can promise you that the unit itself … [Read more...]