Seattle condo sales were up significantly in March over the previous month jumping 37% in total sales. The price range of units sold varied from the low of $265,000 to a high of $2,475,000 – a 2 bedroom at One Pacific Tower in Belltown.
The number of Seattle condos sold in March was just one category that increased over last months numbers. In fact both the cost per unit and average cost per square foot rose as well. The average price per unit rose 10% to $721,927. Which equates to a 32% increase over March of 2015 ($543,805)
In a market with such little inventory it should come as no surprise that the majority of these sales are selling at or above the asking price. In fact, 26 of the 38 sales in March sold at 100% of the asking price or more. The list to sales ratio was 100.37%. There were a number of units that sold for 5% or more than the asking price including 2 sales that sold nearly 10% above the ask.
Will we see this trend continue? We believe so. There are just 82 condos on the market in MLS Area 701 (Downtown). Want to be notified each time a new condo hits the market? All you have to do is ask. We would be happy to set you up in our online listing portal.