New Project Resales
Late last year Belltown welcomed the completion of two condominium projects – The Parc & Mosler Lofts. With resale units in both projects hitting the market, it’s as good a time as any to take a peek at what investors are looking to score. The Parc To date, there have been nine resales at The…
Conversion Bill Do-Over
Passed over during the last legislative session, the condo conversion bills are making their way through both houses of the state legislature. I’ve posted updated info on the bill as well as my thoughts about the bill on my other blog. I have been in favor of some sort of change to the current requirements…
Seattle Condo Performance & Appreciation for 2007
As a follow-up to the December Market Update post I’ve included charts comparing the monthly median condo price of various neighborhoods for 2006 and 2007 by MLS area. I also calculated the annual median price appreciation rate based on closed sales for 2007. For the year, Downtown, Capitol Hill and West Seattle underperformed with single-digit…
Expo62 Bites the Dust
It had been rumored for the past few months that Expo62, a new condominium project under construction in Lower Queen Anne, was going to be converted to apartments. Now, it seems to have come true. According to fellow Realtor, James Stroupe, who reserved a unit in Expo62, the building was sold to an out-of-state buyer.…
Understanding a Building’s Envelope
Farren West is the owner of Key Inspection Services and is a contributor to the Seattle Condo Blog. Farren can be contacted at KeyInspectionServices.com. One can think of a building envelope as being similar to envelopes used to mail packages through the postal service. A standard package mailing envelope is used to protect the interior…
Smith Tower Conversion Scaled Back
The Seattle Times reported today that Smith Tower’s owner, Walton Street Capital, has amended plans to convert the venerable landmark. The new proposal calls for converting the top 12 floors to condominiums with one unit per floor, roughly about 2,000 square feet each. Read the full article at the SeattleTimes.com: Smith Tower condos: Only the…
Seattle Condo Market Update – December 2007
The Seattle condo market saw a modest 2.7% increase in the median price in December, rising to $320,000, compared to the prior year. As expected during the close of the year, the number of active listings, pending sales and closed transactions fell last month. There were only 174 pending transactions in December, the fewest over…
Best Views in Belltown?
Martin Selig Real Estate is proposing a new 14-story apartment building adjacent to the Olympic Sculpture Park. Located on the north end of the park, residents at the 3031 Western project will enjoy unobstructed front-row park, downtown and Elliott Bay views. …the vision calls for layers of glass “veils” with various degrees of translucency and…
Seattle Condo Market Update – Nov 2007
Lets start with the bad news first. The median price for Seattle condos fell for the third consecutive month; it now stands at $305,000, a 3.3% decrease compared to October. And, as we’d expect with cyclical patterns, fewer condos were sold last month, though pendings transactions remained unchanged. The good news? Overall, Seattle’s condo market…
