Seattle Condo Market – 2016 in Review

Seattle CondoThe Seattle condo market can vary greatly depending on the neighborhood.  While there are condos in most Seattle neighborhoods, the biggest concentration is obviously is in Downtown Seattle.  The Downtown Seattle condo market saw increases in 2016 from 2015.  The average Downtown Seattle condo sales price was up ($781,310 vs $667,959), price per square foot was up ($702 vs $626), and the days on market was less (29 vs 39 days).  So Downtown Seattle condos sold faster and for more money.  In addition, more of these Seattle condos sold in 2016 (934) than in 2015 (790).  While the numbers improved, sales in both years were dominated by the Insignia project on 5th and Battery.  In 2015, there were 299 Insignia sales and in 2016 it accounted for 406 sales.  Insignia has been the exception, not the rule.  It is the only major downtown condo project in the last couple years, mainly because of the risk of lawsuits condo builders face and because the Seattle rental market has improved, making apartments the preferred choice for developers.  With limited new condo inventory and the improved overall Seattle real estate market, Seattle condos have seen increased in their prices.

The overall real estate market in the region (area covered by Northwest Multiple Listing Service which serves 23 Washington State counties) saw an 8.1 increase of sales in 2016 when compared to 2015 with inventory at a record low for most of the year. For the 23 counties, the median sales price increased 8.9 percent from $310,000 in 2015 to $337,500 in 2016. Condos, which make up a smaller share of the market, were up 12.6% while single family homes increased 8.7%.

The luxury real estate market was strong in 2016, with over 3,251 home sales over $ 1 million compared to 2,676 in 2015: over a 21 percent increase. The number of condos over $500,000 also increased with 1,711 sold in 2016 versus 1,459 half-million dollar sales in 2015: also over a 21 percent increase.

2017 seems to be taking over where 2016 left off.  As always, to maneuver the Seattle condo market, reach out to your local real estate broker to navigating the Seattle real estate market.

These statistics were gathered from the Northwest Multiple Listing Service, but were not compiled or published by that organization.

Open House at The Art Stable – Update SOLD

The Art StableThere will be an open house at The Art Stable, Tuesday, May 3rd from 11 AM to 1 PM.    Only two condos are left in this award winning building building designed by iconic architect Tom Kundig.

Both units are shells giving you the ability to create your own dramatic and custom space. Floor to ceiling windows take in vistas of Downtown, Olympic Mountains, and Queen Anne Hill as well as the colorful urban fabric of vibrant South Lake Union neighborhood.

The commercially zoning allows the units to be used as live work spaces.  Click to read more about the 6th floor condo and 4th floor condo or come by the open house tomorrow to see the condos in person.

In addition, look for a more thorough blog about The Art Stable in the coming days.

Leschi Condominium – SOLD October 2009

leschi-condSuperb Lake Washington waterfront condominium in Seattle’s Sausalito, Leschi. Extraordinary sweeping views from Mt Baker to Mt Rainier and all points between. The wonderful designed luxury condo has fine finishes with master bedroom suite with marble bath & walk in closet and gourmet kitchen with Meile appliances. All new decks, exterior siding, A/C, new reastat lighting, new windows. 70 foot moorage slip included as is 2 car parking.

Status SOLD – Oct 2009
Area Leschi
List Price  $1,495,000
Bed/Bath 2/1.75

Millennium Tower – SOLD May 2007

Millennium Tower

Millennium Tower

Incomparable two floor condo in Seattle’s best building, Millennium Tower. Unmatched attention to detail in this sublime and sophisticated residence created by Larry Rouch, architect and Jerry Fulks, contractor. This luxury condo features limestone floors floor to ceiling windows with views of Puget Sound, West Seattle, and more, lovely slab granite counters, custom European cabinets. Excellent use of space with open floor plan, kitchen family room, wine cellar, two offices, upstairs den, and luxurious appointments.

Status SOLD – May 2007
Area Downtown
List Price $3,895,000
Bed/Bath 3/3

Alki Penthouse Condo – SOLD Oct 2006

Alki Condo

View from Private Deck

Extraordinary Alki penthouse condominium of over 4,000 square feet with fantastic Puget Sound, Downtown Seattle, Cascade & Olympic Mountain views. Unparalleled finish work and scale, including Travertine floors custom hardwood millwork, custom bronze and steel detailing. Warm, elegant spaces, gracious living. Huge private roof deck with downtown view and BBQ. Three fireplaces, gallery and art lighting.  One of the finest luxury condos in West Seattle.

Status SOLD – Oct 2006
Area West Seattle – Alki
List Price  $3,875,000
Bed/Bath 3/3

Madison Park Penthouse – SOLD Oct 2005

Madison Park Condo

Lakeview West

Amazing views and light make this fantastic Seattle penthouse condo an airy paradise on the shores of Lake Washington. This top floor corner condo features dazzling lake and mountain outlooks from nearly every room! Enjoy a very spacious sun-filled room living room with an amazing view of Mt. Rainier and Lake Washington, extra-large deck, and marble fireplace. The dining room is also well-sized, with built-ins for storing tableware, adjacent to the large galley-style kitchen. This Seattle condo also incorporates a sunny guest room that accesses the superb views and connects to an all-new full guest bath. The master suite enjoys plenty of privacy, located at the end of a wide hallway lined with spacious closets. The very generously sized master bedroom is further expanded by a large private deck with wonderful sunlight and more Lake Washington and mountain views. Both the master bedroom and sizable master bath enjoy abundant closet space! Lakeview West is a friendly condominium building with a pleasant lobby, a dock with six owned moorage spots (one included with this condo unit!) in a fabulous Madison Park location near shops, restaurants, and parks.

Status SOLD – Oct 2005
Area Madison Park
List Price $849,000
Bed/Bath 2/1.75

Washington Park Tower Condo – SOLD Sept 2005

Washington Park Tower

Washington Park Tower

Washington Park Tower, built in  1969, is one of the top condominiums outside of downtown Seattle and downtown Bellevue.  Built before current code, this building or one like it could never be built again.  The building is built on the Seattle shoreline of Lake Washington; therefore, has incredible views that could never be blocked.  This particular condo unit has incredible views – Cascades to Olympics, drop dead Mt. Rainier/Lake Washington view including Husky Stadium which can be seen over the top of the local Madison Park neighborhood.  Madison Park business district is within 2 blocks giving access to restaurants and shops.

The condo features an open floor with floor to ceiling window. The building also has 24 hour doorman and pool.

Status SOLD – Sept 2005
Area Madison Park
List Price $779,000
Bed/Bath 2/2.25

Enso Condominiums

Seattle CondosSeattle is known for having great condominium buildings with awesome views, and Enso Condominiums is one of them.  Enso is located in the South Lake Union neighborhood, with easy access to Downtown Seattle and all it has to offer.  Finished in 2009, the 19-story building has 135 units providing views of the Lake, Puget Sound, Cascade and Olympic Mountains and Downtown Seattle.  There are great amenities in the building including guest suites, entertainment areas, a gym and rooftop deck.  The unit interiors have only the best features from appliances to wood flooring to expansive windows.  If you’re looking for a Seattle condo, the Enso Condominiums may be the perfect place!!  Too see Seattle condominiums for sale click the link.

H/O Dues include: Central hot water, earthquake ins., GWS

Common property amenities include: community room, disabled access, game room, guest suite, lounge, rooftop terrace, gym and lobby entrance.

Building: Enso
Address: 820 Blanchard Street
Yr Built: 2009
Construction: Concrete & Metal
No. of Buildings: 1
No. of Stories: 19
No. of Units: 135
Views: City, Lake, Mountains
Parking: Common Garage
Pets: Sub. To Restrictions