Madison Tower Condo Available For Purchase or For Rent

A luxurious 2 bedroom, 2.5 bathroom, plus den condo in the beautiful Madison Tower Condominiums in Downtown Seattle. Atop Hotel 1000, this southwest corner unit features sweeping views of the Olympic Mountains, the Puget Sound, and Seattle’s cityscape. Beautifully finished with top-of-the-line appliances throughout. Resort-style amenities available including:

  • Room Service
  • Full-Service Spa
  • Exercise Room
  • Library
  • Meeting/Conference Rooms
  • Virtual Golf
  • 24hr Concierge
  • BOKA Restaurant
  • Resident-Only Rooftop Deck
  • Valet Parking Available for 2 cars

Status Available for Purchase or Rent
Area Downtown Seattle
List Price Listing Price: $1,795,000

Rental Price: $7,500 a month

Bed/Bath 2 beds/ 2.5 bath

Buy or Rent?

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.

Seattle Condo Market Real Estate Recap 2014

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. 98 union front

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.

For more information on buying or selling a condo or in regards to Condominium Association Management please contact  me today!