The Seattle Condo Blog

Third quarter results showed no Earth shattering revelations about the market - prices and sales are down. Seattle’s condo median price for Q3 2008 was $305,000, down 5.3% from the same period last year.

The condo market performed fairly well last month; aside from a median price decline it did show signs of stabilizing. Compared to August, the median condo price remained unchanged at $310,000, though that also reflected a year-over-year decrease of 6.03%.

Jim and Matt report that Live Historic’s Marlborough conversion project is reverting back to apartments and Maris is leasing its unsold units.

Vulcan is putting the final touches on South Lake Union’s long awaited Veer Lofts residential development, which recently received its temporary certificate of occupancy. The six-story building contains nearly 100 multi-level lofts and open flat homes.

Seventeen07, a recent conversion at 1707 Boylston is auctioning off 17 units with bids starting at $95,000. The auction which is being conducted by Accelerated Marketing Parnters is scheduled for Sunday, October 19th at the complex.

In case you missed it, here’s King5’s video report on condo conversion defects.

When fully completed the Thornton Place urban village will feature a 14 screen & IMAX theater, retail and restaurants, 266 apartments, 121 condos including 12 live/work lofts, a 143-unit senior living development by ERA Living and an uncovered Thornton Creek channel.

Yesterday, Escala unveiled Club Cielo, a $30 million private club and the first to open in Seattle in more than two decades. The exclusive 25,000 square foot Club Cielo was selected to provide signature amenities to residents of Escala.

Updates and happenings at One Main Street, Canal Station, Gallery and Veer Lofts.

The WestWater, a recent condo conversion development in West Seattle is going back to its old roots, sort of. With 45% of the units unsold, the developer took them off the market last week and is now renting them out.