The number of Seattle condos sold jumped 32% in April over last month showing no signs of wavering demand. The price per unit sold was also up 7%. There were a number of interesting story lines from last month. Lets take a look:
11 Seattle Condos Sold Over $1,000,000 or More
Once again Seattle’s luxury market continues to show strength with 11 sales topping $1,000,000. 6 out of the 11 sales were from Insignia Towers in the Denny Triangle. The largest sale of the month belongs to Concord. For the first time since the unit was delivered back in 2000, PH7 hit the market at $2.9M eventually selling with multiple offers at $3,150,000 – a 9% premium over the original asking price.
Sellers Are Still Getting More Than What They Ask For
We have a very important indicator that helps us understand the impact of multiple offers – it is the list price to sale price ratio. In April, the average list to sale percent was 102.00%. This means on average sellers were getting 2% more than they asked for. Indicating that multiple offers are still strong and have been moving prices up from the original asking price. Out of the 49 condos sold in April, 35 of the units sold were full asking price or more. There was a 2 bedroom at 98 Union that sold 18% higher than the owners original asking price! The unit was listed at $500,000 and sold for $591,500 Woah.
Our Team Continues To Drive Incredible Results In The Seattle Market
We had 4 sales in the month of April. Our sellers were very pleased with the results. One sale netted our seller 20% more in terms of cost per square foot over the Downtown average in March. The second exceptional sale was a condo listed at $459,000 that sold with 6 offers at a price of $512,000. Our team continues to stand out from our competition and our goal is to be the premier condo team in Seattle. Thanks for the support.
Here are the stats for April. As always, you can find them in the condo sales tab of the homepage as well.