It’s been a while, I know. I’ll stop making excuses for not keeping up with the blog. June/July have been busy and I’ll make more time from here on out to keep you guys updated. Thanks for your patience – you guys are the best.
Lets take a look at the June stats for Downtown Seattle:
- Median price up to $615,900 ($568,400 last year at this time). That is a 8.4% increase
- Average price per unit $710,722
- Average days on market 16
- Average price per foot $733.74 ($616.40 in 2016) 19% increase YOY
So what is the current trend for the market Downtown (Seattle)? In a nut shell, the lack of inventory is creating bidding wars all over the city. Downtown Seattle is experiencing the same – at this time last year, the average list to sale price (the price a condo sells for versus what it was listed for) was just a notch over 100% (100.74 to be exact). Meaning that the average condo sold in June of last year sold for just a pinch over the asking. NOW……..
Just one year later, the average list to sales price ration is %106.16. This is a significant increase. So in June of last year using a condo that is listed for $1M, it would have sold for $1,007,400. That same condo this year would have been 1,061,600. Click the photo below to see our full list of June’s stats.
We had a open house on our new penthouse listing at the Klee yesterday – there were about 40 groups of people that came through in 2 hours – our offer review is Thursday at 3pm. We’ll keep you guys posted on the results.
Here are some videos we have been rolling out for some of our listings/projects. Check them out – we would love your feedback. It would be awesome if you would subscribe to our page as well!