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...]

Condos For Sale Down 25% On Capitol Hill

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We took at a look at the Belltown condo market last week and thought we would share some interesting notes on Capitol Hill now as well. The statistic that stood out to us the most - were the number of active listings. Year over year, the number of active condos for sale on Captiol Hill are down nearly 26%. The average list price per square foot is up 15.9% since last year. … [Read more...]

21 Condo Sales In Belltown Last 30 Days, Listings Down 56%

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Quick sales update for Belltown. In the last 30 days there have been 21 condos sales ranging from $208,000 to $1,033,000. Owners have been getting nearly 99% of their asking price and the average cost per square foot was $533. According to Zillow, they predict Belltown condo values will increase 7.5% by next year. That would add to the 12% increase in pricing over this past … [Read more...]

One Bedroom At Escala, $489,000 In 2012, Now $649,000

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Interest for one bedroom condos at Escala is at an all time high. In the last 60 days there have been 3 units that come on the market and quickly found buyers. 1509 started this trend with just 5 days on the market. The asking price was $599,000 with a final sales price of $635,000! Following that sale, units #404 and #810 have also found buyers. Both units are under … [Read more...]

Tower 12 Apartments Breaking Ground In Downtown Seattle

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Tower 12 Apartments, located at 2nd and Virginia is expected to break ground today, according to the PSBJ. We've reported on the site a number of times in past. The 34 story tower will include 314 units featuring a wide variety of options including 44 studios, one bedrooms, one bed plus den, 2 bedrooms and 12 penthouse units. The developer, Continental Properties, also built … [Read more...]

2200 Westlake’s New Neighbor, 40 Story Apartment Tower With 457 Units

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Check out South Lake Union's newest tower in planning. In went in front of the Seattle Design Review Board in February and appears to be headed towards construction. The site is located directly behind Rollin Street Flats near Denny and Westlake. Here is a look at the site courtesy of Google: The 40 story project will offer 457 units, 341 parking spaces and 16,900sf of … [Read more...]

A Flurry of Seattle Penthouse Condos Going Under Contract

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It has been a good couple of weeks if you own a Seattle penthouse condo. There were 5 units that went under contract, leaving just 8 penthouse units on the market in Downtown Seattle. Here are the 5 top floor units that found buyers: Watermark Penthouse - 1107 1st Ave #2001 2 bedrooms | 2.5 baths | 2,116 sq. ft. Huge west facing views. Modern kitchen, custom lighting, … [Read more...]

New Seattle Condo Projects Coming Soon

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Lets discuss when the next condo project is going to break ground. Our friends over at the PSBJ ran an article last week that caught our attention (This is why Seattle developers are building apartments, not condos). Tom Parsons of Holland Partner Group was quoted in the article saying: "This is a pretty savvy generation of buyers out there. I don't think they're going to … [Read more...]

Demand For Condos On Capitol Hill Driving Multiple Offers

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Check this out - There have been 26 one bedroom condo sales on Capitol Hill since the first of the year ($500,000 or less). Sellers have been getting 100.40% of what they are asking. Translation - multiple offers. Out of the 26 condo sales YTD, 18 sales received full price offers or better. That is an incredible stat. The average days on market was just 29 days. This … [Read more...]