Full Price or Above Asking For Seattle 1 Bedrooms?

24775_5_1

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)

High-Rise vs. Mid-Rise_1

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?

Active Listings Downtown_Seattle_1

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

SEATTLE CONDOS_LAWSUITS_WEB

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...]