Burrard Group

DOWNTOWN SEATTLE CONDO UPDATE

DOWNTOWN SEATTLE CONDO UPDATE

The lack of available condominiums in downtown Seattle continues, especially at affordable price points. Currently, there are just 7 resale homes listed for sale on the NWMLS priced below $700,000, which is now the new median home price for resales after increasing a staggering 19% in November 2017 compared to the prior year. Though market conditions may seem daunting to potential buyers, market pundits say unit reservations and presales can offer much needed relief for those willing to plan ahead.

YEAR-OVER-YEAR MEDIAN PRICE OF DOWNTOWN CONDOMINIUM RESALES SPIKED 27-PERCENT IN JULY

YEAR-OVER-YEAR MEDIAN PRICE OF DOWNTOWN CONDOMINIUM RESALES SPIKED 27-PERCENT IN JULY

Lack of New Construction Inventory Trims Overall Absorption, Only 42 Resale Units Available