Seattle Condo Inventory Levels, 42% Priced Over $1M

Condo Inventory and Pricing

We took a quick look at the Downtown Seattle condo inventory this morning and put together a pie chart to show you guys the percentage of inventory in each price range. It was interesting to see that the 42% of our inventory in Downtown Seattle is priced over a $1,000,000. Looking for a bargain priced below $250,000? There are 3 units currently on the market. Have … [Read more...]

Seattle Condos Priced Around $500,000

Seattle Condo Budget

Have a $500,000 budget for a Seattle condo?  We dug up three examples of what you could purchase in the Emerald City for half a million bucks. Enjoy, and happy condo hunting! 2200 Westlake - South Lake Union 910 Lenora St #305 - $495,000 By now you have probably heard of South Lake Union. It is one of the fastest growing neighborhoods in all of Seattle. Home to … [Read more...]

Seattle Condo Sales Update, June 2015

Downtown Seattle Condo Sales_ June

There were 59 Seattle condo sales last month in June. Total number of sales increased 5.3% when compared to May. The average price per unit also increased jumping nearly 13% - bringing the average cost per square foot to $588 (vs $566 in May).  The most fascinating element of all of this is that we only have 64 units for sale in DT Seattle. When you remove the new … [Read more...]

34 Condos Priced Over $1M In Downtown Bellevue

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There are currently 34 condos priced over a $1,000,000 in Downtown Bellevue - compared to just 28 $1M condos in Seattle. These luxury Bellevue condos range in price from $1,000,000 to $3,195,000. From our perspective, it appears that there is some buying opportunity in the $1M-$1.5M range as there are 18 units priced within that range. The greater Seattle area is still … [Read more...]

Seattle Penthouse Sells In Less Than 48 Hours, South Lake Union

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Check out this South Lake Union penthouse that just sold in less than 48 hours (our team sold it!). It had 2 offers and went to an all cash buyer for $1,400,000 just 36 hours after hitting the market. It has 2 bedrooms, 2 bathrooms and a large den. Featuring $100,000 in upgrades including Lutron Blinds, SONOS surround sound and custom lighting.  Views include Space Needle, Lake … [Read more...]

New Project Watch, 40 Story Towers Planned In Denny Triangle

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Here is a project to keep an eye on. The design review proposal is scheduled for June 23 at 7pm*.  The proposal includes 2, 40 story towers and an 11-story podium building. It would total 812 apartments, 170 hotel units and 7,100sf of retail space. There would be 600 parking spaces as well. The location of this project will get your attention. Its located on 6th Ave between … [Read more...]

Downtown Seattle, 52 Condos Sold In 30 Days, 1.5 Months of Supply

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Here are a few numbers to process this week. In the last 30 days there were 52 condos sold in Downtown Seattle. There are only 81 units on the market right now in Downtown. 60 of those units are re-sale, leaving 21 new construction units currently on the MLS. That is 1.5 months of inventory. Translation: (pricing your condo correctly and putting on the market = a condo … [Read more...]

Luma Condo Sales Off To A Quick Start

Luma Condos

Luma, the new construction condo project located on First Hill is off a quick start. Per a press release last Friday, they have sold $12,000,000 in homes thus far. The first purchase and sale contracts were accepted on June 1st. Out of 169 units, 16 units or more have sold - including 2 penthouse units. We've attached the NW floor plan on the 23rd floor. The asking price for … [Read more...]

2200 Westlake’s New Neighbor, 2101 9th Breaks Ground

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We had a client meeting today at Insignia and while walking through South Lake Union/Denny Triangle, we noticed how quickly the developer is moving on 2200 Westlake's new neighbor - 2101 9th Ave. The 41 story apartment tower is going to add 430 units to the Denny/Westlake corridor. The new tower located at 9th and Lenora, will join Cirrus (see below) - another massive … [Read more...]

A Quick Breakdown, Seattle’s Economic Growth

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We find ourselves in Downtown Seattle daily. Meeting with condo owners, showing available inventory or just enjoying the city like everyone else. What is fascinating is how quickly our city is growing. We have all heard the headlines about the Expedia move, the potential US headquarters for Alibaba, Facebook expansion and the rapid Amazon growth. So with that said, what does … [Read more...]

Last Week In Luxury Seattle Condo Sales

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The last 2 weeks have been active for luxury Seattle condos. There were 8 units priced between $1,000,000 and $2.6M that went under contract. We expect this trend to continue. Escala - Unit #1205 2 bed | 2 bath Asking Price - $1,075,000 Days on market - 5 Insignia Towers - Unit #2006N 2 bed | 2 bath Asking Price - $1,094,400 Days on market - New … [Read more...]

Luxury Seattle Condo Market, Supply Is Limited

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In a Seattle condo market limited by a tight supply, the luxury market is especially constrained. Here is a list of the active Seattle condos priced over $2,000,000. There are just 17 units available in a total of  7 buildings. The prices range from $2.3M to $11M (our listing put on last week). Is there a market for these kinds of properties? The short answer is yes - In … [Read more...]

Royal Crest

Built in 1974

ROYAL CREST Architect: Driscoll Architects Neighborhood: Belltown 2100 3rd Ave, Seattle, Wa 98121 LOCATION Royal Crest is located in the vibrant Belltown neighborhood. SEARCH      BUILDING Royal Crest is a 128-unit, 26-story steel and concrete high-rise condo located in Belltown at 3rd and Lenora. Royal Crest features ground floor retail , parking on the 2nd and 3rd … [Read more...]

40 Story Twin Tower Design Revealed For Denny Triangle, New Seattle Condo Project?

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Another project is coming to the Denny Triangle. Clise Properties and Graphite Design Group presented plans last night to the Seattle Design Review Board. The plans include 2 twin towers with 686 residential units, 21,000 sq. ft. of retail space and 185,000 sq. ft. of office space (parking 860 vehicles). The three design options are very different and it will be … [Read more...]