š Seattle condo prices hit a 10-year low
Last week, we looked at the surprising resilience of Seattleās single-family home prices in the face of increasing inventory. The Downtown Seattle condo market, however, tells a very different story.
Check out the median price per square foot chart below; Downtown Seattle condos ($621/sq ft) have essentially reset to 2016 levels, erasing nearly a decade of gains.
Just as fascinating is the market flip between the two sides of the lake:
- The Pre-Pandemic Era: Downtown Seattle consistently sold at a premium over Downtown Bellevue.
- The Post-Pandemic Shift: Bellevue overtook Downtown Seattle and now commands a significant premium ($862/sq ft), demonstrating much stronger price resilience while Downtown Seattle has continued to soften.
P.S. Donāt miss the first eye candy listing below. The HOA dues are $21K a month!
š Homes Weāre Selling
- Penthouse living atop Bellevue Towers, with views for days
- A blank canvas in West Seattle
- A spacious Belltown condo with Puget Sound and Space Needle views
- The "Hammer House," an Olson Kundig masterpiece in Madrona
- A completely transformed Eastlake floating home with rooftop deck views
- A brand new Madison Valley home
- A Burnstead in Illahee w/ fresh updates, looking for its second owner ever!
- A flexible 2-bed townhouse with rooftop city views
- A rare Kingsgate tri-level, first time on the market in 25 years
- Corner unit at the Emerald
- West Seattle townhome with built-in income potential
- Build your dream home on Perkins Lane
- First Light studio
- A Westlake houseboat
Wonder what your home is worth? Just hit reply.
šæ Our Latest YouTube Video
š Listings that caught our eye last week
- Most expensive pending: $9.5M Clyde Hill Estate with Lake Washington Views
- Highest % over asking sale: $1.172M Montlake Contemporary Home
- Most expensive sale: $6.5M Historic Magnolia Waterfront Estate
- Least expensive sale: $216K Condo in Gated Glen Acres Community
- Most popular Seattle listing on Redfin: $950K Mid-Century Home
š° Must-read real estate news
- Seattleās āshaky tech marketā hits home sales (Seattle Times)
- Buyers of McCaw estate sell second Laurelhurst home, this one for $15 million (PSBJ)
No slowdown for Seattle sellers
Seattle: 335 new listings last week, up 15.52% w-o-w
Eastside: 249 new listings last week, up 20.29% w-o-w
But Seattle buyers are on vacation
Seattle: 138 pending last week, down 23.76% w-o-w
Eastside: 126 pending last week, down 5.26% w-o-w
š„ The hottest new listings
$15M Four Seasons Residence with Elliott Bay Views
$5.35M Custom Waterfront Estate on Puget Sound
$3M Modern Camp-Style Home (Already pending!)
$985K New Construction in North Beacon Hill (Already pending!)
Check out last weekās market update,Ā 15-year high inventory, but prices wonāt budge!?
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