The Condo Market is very hot right now. We are seeing condos go on the market and if priced right they are receiving offers within days. Well maintained buildings with a healthy reserve fund have received top dollar for their units in the past month.
The most sales for 2014 occurred with prices in the $200-300 range but the $300-400 range is a very close 2nd! The average list price for the past 3 months is around $355,000.
With May just getting underway, the Magnolia and Queen Anne neighborhoods already have a combined 79 units that have gone on the market. The Downtown and Belltown areas have a combined 122 listings so far for the month of May.
There are 8 units that have closed already in Belltown & Downtown, and there are 6 listings that have already closed in the Magnolia/Queen Anne Neighborhood. So there are still plenty of units to view but be quick as they are selling fast! If you’re interested in learning more about the Seattle condo market, feel free to contact me at anytime.
Downtown Condo Market is off to a good start in 2014. There were 41 active listings in January and that has increased to 43 for February. There have been 26 listings that have sold, and February was a better month in terms of sales with 19 units closing versus 6 in January. So far there is 1 unit sold for March.
Belltown is a booming neighborhood with slightly more listings in 2014 than the Downtown corridor. There were 46 listings in January and 52 in February. There were 12 sales in January and 14 in February so even though there were slightly more listings in this area, the same number of units as Downtown were sold. March is off to a better start with 4 units sold thus far.
Heading a bit North to Queen Anne there were 56 listings in January and 52 in February. Of those listings, 17 sold in January and 16 in February. Currently there are 48 units on the market to start the month of March. In the smaller neighborhood of Magnolia, January was off to a slow start with only 2 condo listings. February increased to 7 active listings and March currently has 6 active condo listings. There was 1 unit that sold in January and 2 in February.