The Pontedera Condominium, situated just south of Downtown Seattle at 827 Hiawatha Place just reduced prices significantly on a number of units. The price drops range from $10,000 up to nearly $60,000 per unit! Good thing, too, since there’s only been 18 closed sales out of 102 unts, with only 2 sales in the past year, per NWMLS & county records.

It’s a shame really since Pontedera was nicely designed and accented, plus it’s conveniently located to downtown, Capitol Hill and the International District. Home prices start from $174,900 and there are several incentives and programs geared to first-time and lower income home buyers, including down payment assistance, property tax exemptions for qualified buyers and no HOA dues for a year. Its worth checking out.

View available Pontedera Condo homes for sale

1111 E Pike Street – Capitol Hill

The Tom Kundig designed 1111 E Pike Street Condominium is down to the final three homes for sale. The uniquely designed boutique condo building is located in the heart of Capitol Hill’s trendy and vibrant Pike Pine Triangle. Homes start from $314,950. Own for less than comparable Cap Hill apartments rent for!

View the last remaining 1111 E Pike condos for sale

Hjarta Condominium – Ballard

Ballard’s green constructed concrete and steel Hjarta Condominium reports they are now over 75% sold. Per NWMLS records, Hjarta closed 25 units, just over 30% of its homes in 2011.

Hjarta is located at 1530 NW Market and is one of only two new constructed condominiums in Ballard. Hjarta’s new home prices start from $264,950.

View Hjarta condos for sale

Marselle Condominium – Lower Queen Anne / South Lake Union

The Marselle Condomium report they have sold 100 homes, or 75%, since opening, with 21 home sales in 2011. Marselle features a variety of floor plans ranging from open one-bedrooms to 2-story three-bedroom penthouses with soaring ceilings.

Marselle is located at 699 John Street in the shadow of the Space Needle…a great place to call home for those who work in downtown or South Lake Union. Home prices begin from $199,990.

View Marselle condos for sale

Danielle Condominium – Ballard

Ballard’s other new construction condominium, the Danielle, is down to its final three homes for sale — 2 one-bedroom units and a two-bedroom. Located at 5803 24th Ave NW, it’s close to Ballard’s many shops, restaurants and attractions. The remaining homes range from $219,950 to $479,950.

View Danielle condos for sale

The total dollar sales volume increased 1.9% from $103,761,956 to $105,709,480, while the average price per square foot reduced 11.9% from $774 to $682. The average home size just barely shrunk from 2,286 to 2,281 square feet.

Here’s a look at the Top Ten most expensive Seattle closed condo sales in 2011:

• Price range: $1,765,000 to $3,167,440
• Average price per square foot: $903
• Number of bedrooms: seven 2-bedrooms and three 3-bedrooms
• Average size: 2,859 square feet
• Location: Downtown Seattle & Queen Anne

Compared to 2010′s top ten Seattle condo sales, the homes were smaller and less expensive.

#1 – Fifteen Twenty-One: $3,167,440

1521 2nd Ave #3103 | Downtown Seattle – 2,658 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#2 – Fifteen Twenty-One: $3,134,889

1521 2nd Ave #3500 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#3 – Fifteen Twenty-One: $3,050,000

1521 2nd Ave #3000 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#4 – Fifteen Twenty-One: $2,990,000

1521 2nd Ave #3200 | Downtown Seattle – 2,602 square feet, 2 bedroom, 2.25 baths

View available Fifteen Twenty-One condos for sale

#5 – Millennium Tower: $2,690,000

715 2nd Ave #1501 | Downtown Seattle – 4,589 square feet, 3 bedroom, 2.25 baths

View available Millennium Tower condos for sale

#6 – Escala Condominium: $2,200,000

1920 4th Ave #2401 | Downtown Seattle – 3,562 square feet, 3 bedroom, 3.25 baths

View available Escala condos for sale

#7 – 200 West Highland: $2,100,000

200 West Highland #202 | Queen Anne – 2,406 square feet, 2 bedroom, 2 baths

View available 200 West Highland condos for sale

#8 – Millennium Tower: $1,950,000

715 2nd Ave #1902 | Downtown Seattle – 2,720 square feet, 2 bedroom, 2.25 baths

View available Millennium Tower condos for sale

#9 – Escala Condominium: $1,925,000

1920 4th Ave #2903 | Downtown Seattle – 2,442 square feet, 3 bedroom, 2.5 baths

View available Escala condos for sale

#10 – 200 West Highland: $1,765,000

200 West Highland #402 | Queen Anne – 2,406 square feet, 2 bedroom, 2 baths

View available 200 West Highland condos for sale

Expanding the list to include the top ten most expensive condos in the region last year, the list would include three Eastside condo sales:

5505 Lake Washington Blvd #2-C, Kirkland sold for $3,249,000
500 106th Ave NE #4005, Bellevue sold for $2,220,000
10700 NE 4th St #4104, Bellevue sold for $2,062,000

Source: NWMLS and King County, all sales data are in the public domain

Related story: 2010 Top Ten Most Expensive Seattle Condo Sales

Escala is one of a few high-end new construction condominium towers in the downtown Seattle area with available units for sale.

Located just north of the retail district, Escala offers a variety of spacious floor plans, upscale finishes and impeccable residential amenities including a concierge services, semi-private elevators, a restaurant quality kitchen and dining room, a wine cave with a private dining, a world-class fitness center and spa, a theatre and a wonderful outdoor terrace.

Inquire for additional information or to schedule a private tour of Escala with our condominium specialists.

–> View available Escala homes for sale

Trace North is now sold out! The last developer unit, #502, went under contract this week and is now pending.

Fortunately, for those interested in Trace North there are a few resales available.

Enso Condominium – South Lake Union

Enso Condominium

These are also Vulcan’s final two condo units from the last construction cycle, which will complete their foray into condominiums. Presently, Vulcan is reviving its Martin project in Belltown, but as apartments.

   >>  View available Enso condos for sale

1521 Second – Downtown

The 1521 Second tower has closed 117 units and is now over 84% sold. 1521 is a luxury condominium offering exquisite finished homes commanding spectacular city, Puget Sound and Olympic range views. Homes start from just under $1 million.

   >>  View available 1521 Second homes for sale

Olive 8 – Downtown

Olive 8 is now over 2/3 sold with more than 145 homes closed.

   >>  View available Olive 8 condos for sale

Four Seasons – Downtown

The uber-luxurious Four Seasons Private Residences is clinging on to its remaining 11 new homes…there hasn’t been a sale there all year (per NWMLS records). Most of the available homes under $3 million are on the 1st Avenue side facing the Russell Investments tower while the choice view homes start from just over $6 million.

   >>  View available Four Seasons homes for sale

Escala – Downtown

Downtown’s other remaining condominium tower, Escala, has closed 130 homes. That’s another 30 in the past two months, which brings the project to approximately 48% sold. New homes start from the low-$400,000s.

   >>  View available Escala condos for sale

The Decatur – First Hill

Since the switch in marketing firms, and in some cases, price increases, the Decatur has only closed 1 additional home. That leaves about 21 units remaining.

   >>  View available Decatur condos for sale

Marselle – South Lake Union / Queen Anne

Marselle reports they are over 70% sold and still have a variety of home options available from one-bedroom to two-story penthouses. Homes start from $219,990.

   >>  View available Marselle condos for sale

Bellevue Towers – Bellevue

Downtown Bellevue’s upscale Bellevue Towers continue to sell well with over 230 homes now closed and another 20 or so homes under contract, including two $2 million penthouses. That brings the massive twin-tower, LEED Gold Certified development up to 43% sold.

Wells Fargo is now offering financing at Bellevue Towers, which expects to receive Fannie Mae approval later this year.

   >>  View available Bellevue Towers homes for sale

One Main Street – Bellevue

Bellevue’s only other new condominium development, One Main Street, is also doing well with 70% of its homes sold. Prices start from $299,900 and is FHA approved.

   >>  View available One Main Street condos for sale

Hjarta – Ballard

Ballard’s Hjarta Condominium has also done well this year, they are now 70% sold. Homes in this green constructed concrete & steel building start from $274,950.

   >>  View available Hjarta condos for sale

Danielle – Ballard

The Danielle Condominium in Ballard reports they are over 60% sold. Homes at the Danielle start from the low-$200,000s.

   >>  View available Danielle condos for sale

Harvard & Highland – Capitol Hill

The Harvard & Highland Condominium has sold 76% of its luxury homes leaving 9 available. Tucked quietly away in Capitol Hill’s Harvard-Belmont district, Harvard & Highland offers sophisticated in-city living.

Through the end of October, Harvard & Highland is offering an additional broker bonus. We will rebate 2/3′s of the bonus ($10,000) if you use our associates to facilitate the purchase of a Harvard & Highland home by the end of October.

>>  View available Harvard & Highland homes for sale

Disclosure: 1521 Second, Olive 8, Marselle, Harvard & Highland and Hjarta are advertisers of Seattle Condos and Lofts.

Olive 8 had 8 additional sales in the past month bringing the total to 33 sales so far this year. Additionally, Olive 8 still have several “Sky Suite” homes available, which are full-furnished open one-bedroom homes by Alchemy Collections, and are a perfect downtown pied-à-terre.

>> View Olive 8′s active listings
>> Visit the Olive 8 website

Escala Condominium – Downtown Seattle

Escala fared a bit better with 12 sales in the past month and is now approximately 42% sold per MLS figures. Slow going, but moving forward.

>> View Escala’s active listings
>> Visit the Escala website

Bellevue Tower- Bellevue

Neither Olive 8 nor Escala have anything on Bellevue Towers, which closed its 200th home last week. That’s over 80 closed sales so far this year, bringing the twin-tower 539-unit complex to 37% sold.

>> View Bellevue Tower’s active listings
>> Visit the Bellevue Tower website

Enso Condominium – South Lake Union

Enso reported 4 sales in the past month and is now down to its last 8 homes, priced between $400,000 and $1,295,000. As a special for Seattle Condos and Lofts readers, we are offering a rebate up to $7,500 for the purchase of a new Enso home (by July 31st) through our condo specialists.*

>> View Enso’s active listings
>> Visit the Enso website

Gallery Condominium – Belltown

Gallery had 4 additional sales since our last update, which leaves 10 homes left. For homes purchased (under contract) before July 31, 2011 and closed by August 30, 2011, Gallery is offering:
  1.   A buyer bonus up to 3% of the purchase price
  2.   Choice of an optional wall, slider or closet combo build out

>> View Gallery’s active listings
>> Visit the Gallery website

Disclosure: Olive 8 and Gallery are advertisers of Seattle Condos and Lofts at the time of publication.

* Half of the selling agent bonus, dependent on lender eligibility and approval

The Bellevue condo market is starting to heat up with One Main Street reporting an additional 3 home sales. The boutique development, conveniently located near the Downtown Bellevue Park, is now 56% sold.

One Main Street offers a variety of home plans to choose from, ranging from a $329,900 open one-bedroom to a $1,609,900 spacious three-bedroom penthouse suite.

Visit the One Main Street website and blog
View One Main Street condos for sale

Bellevue Towers – Downtown Bellevue

Bellevue Towers continue to do exceptionally well, recording another 35 closed sales since May 1st…24 of those in May alone. That might be the highest single month closings for a new condo development we’ve seen in years.

Apparently, at least in the minds of the owners, sales are going so well that they’ve actually increased prices. The increases ranged from $3,000 to $25,000. While they may have sold over 100 homes this year alone, they still have approximately 400 more units to go. New home prices currently range from $316,000 to $5,499,000.

Visit the Bellevue Towers website
View Bellevue Towers condos for sale

Harvard & Highland – the Harvard Belmont District

The classical Harvard & Highland Condominium, nestled in Capitol Hill’s historict Harvard Belmont neighborhood, also reported three sales in May. These beautifully appointed homes are available from $995,000 to $2,350,000.

View the Harvard & Highland website
View Harvard & Highland homes for sale

Fairview Condos – Mukilteo

Following the Fairview condo auction in November, Matrix took over sales of the remaining twelve unsold units in February. Now, they’re down to the final three homes: 2 two-bedrooms priced at $354,500 & $364,500 and a three-bedroom penthouse that’s offered at $1,115,500.

Visit the Fairview Condos website
View Fairview condos for sale

The Enclave at Lake Union – Eastlake

The Enclave at Lake Union is re-awakening since we last heard from the marketing team last autumn. The developer is repositioning the project targeting homeowners seeking larger in-city waterfront homes.

“We’ve been patiently waiting for the market fundamentals to improve allowing construction to begin. We see an emerging opportunity to target those accustomed to the waterfront lifestyle but preferring to simplify their domestic responsibilities. The Enclave at Lake Union will deliver on all counts,” says Mike Yukevich, Investment Manager and partner at Trinity Real Estate, the developer of The Enclave at Lake Union.

The individual two-bedroom townhomes range in size from 2,500 to 3,000 square feet and are being presold from $1.3 million. The larger 5,200+ square foot, three bedroom “combined” residence is being offered from $2.995 million in an improved “vanilla shell” condition, meaning all the building systems (including elevators) and interior demising is constructed but the prospective homebuyer has the flexibility to specify the interior finishes. Alternatively, a fully finished home to the same luxury specification as the other homes is available turnkey at $3.395 million.

Visit the Enclave website
View Enclave homes for sale (presale)

Olive 8 Sky Suites – Downtown Seattle

Realizing an emerging market of out-of-towners looking for a second in-city Seattle home with resort amenities, Olive 8 is offering its remaining open one-bedroom condo homes (the ‘xx09′ and ‘xx10′ stack) fully furnished.

The turnkey furniture packages from Alchemy Collections is available with full price offers on the newly named open one-bedroom “Sky Suite Collection” homes, which start from $370,000.

Visit the Olive 8 website
View Olive 8 condos for sale

Disclaimer: At time of publication, Olive 8 is an advertiser of Seattle Condos and Lofts.

Pryde + Johnson has filed a land use application the 2nd phase of its Hjarta development in Ballard. The phase 2 building will be on the backside of the existing building and will front NW 56th Street. I’ll update further when more information is available. View the land use bulletin

Trace North & Trace Lofts

Trace North sold another 5 units in the past three weeks and is now down to its final 3 units for sale. www.tracelofts.com

• #418: One-bedroom, 804 square feet offered at $354,950
• #519: Open one-bedroom, 614 square feet offered at $274,950
• #502: Open one-bedroom, 610 square feet offered at $264,950

Plus, there’s a resale unit that’s listed at $199,950. Due to MLS restrictions I can’t tell you about it, but you can view more info about the resale and the other 3 units here.

Trace Lofts is down to its last unit, #407, which is a 703 square foot open one-bedroom facing south with its own deck. It is currently listed at $324,950 – View listing

Harborside Condominium

Slightly outside and a ferry ride away from Seattle is the Harborside Condominium in Bremerton. The Harborside is located on the waterfront just a couple of blocks from the ferry terminal. The two building development has a number of great units available with prices that are 40-50% below their 2007 prices when the project was completed.

Prices start at $255,000 for one-bedroom homes (from 913 square feet), from $309,000 and up for large two-bedrooms and $759,000 for a 2,642 square foot three-bedroom penthouse suite.

www.harborsidecondominiums.com

Joseph Arnold Lofts

For those keeping track of the Joseph Arnold Lofts apartment project in Belltown, the design review board meeting has been rescheduled for Tuesday, May 10th at 5:30 pm at Seattle City Hall. The Joseph Arnold Lofts will be adjacent to two condo buildings – The Klee and Bellora. View land use bulletin

Olive 8 & Escala

Sales seem to be tapering off for both downtown Seattle condo buildings. Since March 1st (over the past 8 weeks) there were 6 new purchases (contracts accepted) between them, 2 at Olive 8 and 4 at Escala. Three of those were over $1 million.
www.Olive8.com   |    View Olive 8 units for sale
www.somethingischangingatescala.com   |    View Escala units for sale

Queen’s Court

After Matrix took over the Queen’s Court condo development last September sales have been brisk with 12 homes sold so far, leaving just 2 homes remaining. Both are 509 square foot studios priced at $149,950 and $154,950. Queen’s Court is a 2007 conversion located near the Seattle Center in Lower Queen Anne.

1350 Alki
It has taken nearly three years to sell out the 10-unit 1350 Alki condo development, but the end is seemingly in sight. The pending offer on unit #S5 last week now leaves two units available. Unit #3S is a 3-bedroom 1,425 square foot unit listed at $559,950, which is 34% less than its original $849,000 price in 2007. However, that’s a tad bit high considering that #4S sold 6-months ago for $560,000. Unit #2N is a slightly smaller 3-bedroom 1,325 square unit listed at $499,950. That’s 35% below its original $769,000 offer price. View 1350 Alki condos for sale.

Gallery Condo Buy Now Event
Word is the Gallery Buy Now event was a “disorganized mess” that resulted in the sale of just 8 of the the 25 units offered. Although Schnitzer totally botched the auction/buy now event, and perhaps lost some goodwill in the process, the Gallery Condominium is a great building and does offer value for new construction in the downtown/Belltown area. View Gallery condos for sale.

1521 Second
The 1521 Second Condominium is hosting another open house event this weekend, March 12th & 13th, from noon to 4:00 pm. The open house provides the public an opportunity to tour some of Seattle’s most luxurious, and expensive, condos. View 1521 Second condos for sale.

Hjarta Condominium
The Hjarta Condominium in Ballard sold another 4 units since our update last month. View Hjarta condos for sale.

Trace North
The Trace North development on Capitol Hill recently passed the 90% sold level. It has been a long time coming given that pre-sales started back in early 2007. Since our last update 3 weeks ago, 4 additional homes were sold at Trace North, leaving less than 10 homes available for purchase. View Trace North condos for sale.

Escala Condominium
Since the beginning of the year, Escala has closed 11 transactions with another 8 homes pending. Per the NWMLS, to date, Escala has 88 sales with 75 of those closing, so they’re just under 1/3 sold with 181 homes available. View Escala condos for sale.

Disclaimer: Advertisers of The Seattle Condo Blog at time of publication include Hjarta, 1521 Second & Trace North.

Here’s a look at the Top Ten most expensive condo sales in Seattle last year.

Price range: $2 million to $7.2 million
Average price per square foot: $1,088
Number of bedrooms: six 2-bedrooms and four 3-bedrooms
Average size: 3,153 square feet
Location: Downtown Seattle & Capitol Hill’s distinctive Harvard Belmont district.

Giving credit where credit is due, this post was inspired by Estately.com’s 10 Most Expensive Homes Sold in Seattle in 2010.

#1 – Four Seasons Private Residences: $7,198,100

99 Union Street | Downtown Seattle – 5,256 square feet, 2 bedroom, 2.5 baths

View available Four Seasons residences for sale.

#2 – Four Seasons Private Residences: $6,300,000

99 Union Street | Downtown Seattle – 4,003 square feet, 3 bedrooms, 3.5 baths

View available Four Seasons residences for sale.

#3 – Escala: $5,950,000

1920 4th Avenue | Downtown Seattle – 5,170 square feet, 3 bedrooms, 3 baths

View available Escala condos for sale.

#4 – Fifteen Twenty-One: $3,187,900

1521 2nd Avenue | Downtown Seattle – 2,658 square feet, 2 bedrooms, 2.25 baths

View available Fifteen Twenty-One condos for sale.

#5 – Harvard and Highland: $2,300,000

1178 Harvard Avenue E | Capitol Hill – 2,520 square feet, 2 bedroom, 2.25 baths

View available Harvard and Highland condos for sale.

#6 – Merrill Court: $2,200,000

907 Harvard Avenue E | Capitol Hill – 4,225 square feet, 3 bedroom, 4 baths

View available Merrill Court condos for sale.

#7 – Fifteen Twenty-One: $2,200,000

1521 2nd Avenue | Downtown Seattle – 1,644 square feet, 2 bedroom, 1.75 baths

View available Fifteen Twenty-One condos for sale.

#8 – Harvard and Highland: $2,100,000

1178 Harvard Avenue E | Capitol Hill – 1,790 square feet, 2 bedrooms, 2.5 baths

View available Harvard and Highland condos for sale.

#9 – Escala: $2,000,000

1920 4th Avenue | Downtown Seattle – 2,442 square feet, 3 bedrooms, 2.5 baths

View available Escala condos for sale.

#10 – Fifteen Twenty-One: $2,000,000

1521 2nd Avenue | Downtown Seattle – 1,825 square feet, 2 bedrooms, 1.75 baths

View available Fifteen Twenty-One condos for sale.

List and aggregate information determined by sales recorded in the Northwest MLS database, but were calculated independently by The Seattle Condo Blog.

Sample Price List (January 2011):

The new price list comes out about a year after prior reductions that ranged from 10-15% and last fall an auction helped sellout targeted inventory below the 27th floor, according McAvoy and NWMLS history. She estimates the total reductions in aggregate now range from 30-40% below presale pricing in 2007. “It a compelling opportunity for savvy homebuyers,” said McAvoy. “With prices correcting, timing the market may now have more to do with securing preferred selection and historically low interest rates versus anticipating further price cuts. I think we’re at a pivotal time in the center-city (Seattle) housing market and each community has a unique relationship within it.”

David Thyer, President of RC Hedreen Company and developer of Olive 8 says he monitors market values but acknowledges the only price that matters is the one that a buyer wants to pay. “We’re not inclined to further discount given recent sales comps in the building,” he said. “We know Olive 8 provides a great value today and we’re working our way up the building. Our three year construction loan extension provides us the time to sell into an improving marketplace over the next two years or so. Fortunately, we’ve saved our best inventory.”

McAvoy reports 10 new sales have been accepted so far in 2011 and active negotiations are taking place on several other homes. “I think buyers and sellers are finding better balance in supply and demand at Olive 8 and elsewhere,” she said. “It’s a signal that the market is stabilizing and an increase in sales means buyers are becoming more confident in home values.”

www.Olive8Reset.com

View available Olive 8 Condo homes for sale.

Disclaimer: Olive 8 is an advertiser of The Seattle Condo Blog at time of publication.