Articles tagged "condos"

The official NWMLS stats for downtown Seattle condominium sales actually outperformed our estimates published in our blog post earlier this month.  The trends for fewer listings, higher sales and escalating median home prices continued through May 2012. The following graphs have been updated and the encouraging data has spurred several developers to dust off their plans for new construction in what appears to be the official start of the next development cycle.

Today, The Seattle Times published an article entitled "Downtown Condos Filling Up… Finally"

The reporter Eric Pryne cited several leading indicators of a recovering in-city condo market in his summary:

• Some new construction projects are raising prices
• The balance of supply and demand is tipping away from supply
• There are no new projects in the pipeline to add to the supply
• Brokers report a "spring surge" in condo buying downtown

Realogics Sotheby's International Realty was proud to provide some market data for research on this story. Below is a summary of the types of research that we maintain...

The International Real Estate Expo was hosted by Hong Kong Sotheby’s International Realty at the Hong Kong Trade and Convention center during the Sotheby’s Spring Art Auction event held March 31 through April 4.  As an invited guest, Realogics Sotheby’s International Realty included Olive 8 among the unique, investment grade real estate opportunities that included notable properties from Dubai, New York, Miami, London, Las Vegas, China and Mongolia.  The event was broadly advertised in Hong Kong and during the Sotheby’s Art Auction producing several hundred registered guests to attend. 

After a brisk spring sales season, the following outline updates the stats of each new construction condominium project represented by Realogics Sotheby's International Realty:

The spring sales season has sprung a surge in penthouse sales at Realogics Sotheby's International Realty.  Since March 2012 there have been eleven such sales resulting in more than $26 million in real estate transactions (including closed and pending sales).  Our sales ranged from just below $1 million to several penthouses fetching more than $4 million and upwards of $1,400+ per square foot.  Below is an overview of the penthouse properties recently sold and a list of remaining inventory in that category:

In today’s Puget Sound Business Journal, reporter Jeanne Lang Jones writes about the expanding affluence of in-city condo dwellers referencing research provided by Realogics Sotheby’s International Realty.  We wrote about the dramatic rise in penthouse sales since March 2012 resulting in more than $26 million in transactions, which spurred additional research in to where those condos sales have been taking place.  The following heat map was also added the Puget Sound Business Journal’s blog post and describes the volume of sales that have occurred since 2000.

As consumers are stepping off the beach and back into the market, Realogics Sotheby's International Realty is hosting a company-wide in-city condo showcase this weekend on September 8th & 9th from 1pm to 4pm. Prospective buyers are encouraged to tour more than a dozen new and resale properties, which include new models at Fifteen Twenty-One Second Avenue and Olive 8 in downtown Seattle, Harvard & Highland on Capitol Hill, The Lakeside Condominiums in Leschi, and The Residences at Fairview on Lake Union.