I’ve been too busy skiing to even hear about Fifty Shades of Grey, never mind read it! But I spotted on the Zillow Blog today that Escala was the setting for it, Seattle’s Escala Condo Building Set Steamy Scenes for “Fifty Shades of Grey”.
Between Tim Lincecum and this, Escala becoming a star studded building.
Though wouldn’t the Four Seasons or 1521 been more suitable settings? If I were a billionaire, with a condo pied-a-terre, that’s where I’d buy!
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For all you millionaires out there here’s a brand spanking new townhouse on Eastlake at 2615 Bolyston Ave E.
$980k for 2,218 square feet. 3 beds, 3 baths.
I’m digging the exposed wood ceilings, metal beams and roof top deck. However, I find the exterior facade to be pretty busy. Maybe three decks is overkill? I also wonder if the living room has a view of the lake? It backs on to I-5, definite downside.
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A modern home built in 2009 in Wallingford is up for grabs at 3817 Interlake Ave N.
$530,000 for 1,620 square feet, 3 beds, 2.25 baths. It is the back of a subdivided lot so from the overhead view looks like it has some townhome characteristics. Which is confirmed by Steve Paoli, a Redfin field agent, who saw it in person:
One of the better recently built modern homes, quality materials throughout. Radiant concrete floors, open fir beams, all new in 2009. Large western deck off top floor master, no yard for this home
Surprisingly, 4 days after hitting the market it isn’t pending yet!
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Fans of 19th Avenue Lofts, rejoice!
Top floor unit #312 just hit the market. 1,000 square feet, two full baths, two decks, two parking spots and possibly, two spots for beds.
At $429k, it isn’t exactly a bargain. The owner did pay $425k back in 2005 so not too surprising they don’t want to eat a loss after holding it for 7 years.
p.s. to the listing agent: please upload larger photos to the MLS!
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2316 42nd Ave E is a sweet looking brand new Madison Park modern.
Granted, a little pricey at $1.75m. The land was bought for $400k a year ago. Was the build out worth $337.5/square foot?
It is 4,000 square feet, 4 beds, 2.5 baths. It was designed by Quinn Borseno at Playhouse Design Group. Claims views of Lake Washington.
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Most the mid-centuries we feature need a bit of work. Here’s one in Seward Park at, 5819 Seward Park Ave S, that’s been recently updated. Just hit the market for $825k. 3,240 square feet, two levels. And has a pool with what looks to be a sizeable detached building.
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Phinney fans, looking for a brand spanking new Built Green 4+ star place?
From the builders of Malden 8, Phinney Row is at 4717-4723 Phinney Ave. N. There’s four units, priced around $500k. Move-ins starting mid-June.
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A reader is looking for condo management recommendations for a condo with 100-200 units. Any suggestions?
I am wondering if you know of other Condo Management companies in Seattle? I saw you mentioned Madrona, as well as CWD. Do you know of any others? Any thoughts on the best of the best in Seattle?
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It has been absolutely way too long since we last looked at the condo market in Seattle. I’ve just been too infatuated with pretty houses and too busy skiing. And the fact that every time I wrote a report I got more depressed about the value of the two condos I bought in 2007. But I’ll despair no more, there is good news!
So what’s going on with condos in the city of Seattle?
Buyers are finding that there is nothing for sale (we are at an all time low for as long as we’ve been tracking things) but condo owners are psyched because it looks like we hit a bottom in January and prices are now on the rise ($/sq. ft is up from $277 in January to $303 in April).
Median Sale Price Increased 6.5%
The median price for condos in Seattle was $254,625 in April, up 6.5% from $239,000 in March. Year-over-year median price is down 7.6% as at this time last year it was $275,000. The median sale price for $/sq. ft. was $303 in April up 4.8% from $289 in March but was down 3.8% from last April. Is it too soon to call the bottom as January 2012?
Sales Up 13.8%
There was 198 sales in April, up 13.8% from 174 sales in March. Last April there was 182 sales. When we look at the number of business days in April compared to March and take that into account, sales were up a whooping 19.2%.
Fewer Condos For Sale
On the last day of April there were 582 condos for sale. On the last day of March there were 612. This is a 4.9% decline. Last April there were 1,053 condos for sale, a 44.7% decline. There are way fewer for sale now! Which may explain why we’re all bored of what is out there. Perhaps sellers are waiting until next year because they’re anticipating even greater price gains?
Months of Supply Dwindling
We’ve also seen the sale-to-list continue to tick up to 97.2%, continuing its trend upward over the past year. Deals are likely harder to get because sellers are more realistic when they put their place on the market. (It was 96.9% in March and 95.3% a year ago.)
Data by Neighborhood
Wondering what your neighborhood or townhomes are doing? Check out Redfin’s spreadsheet with all the details. For many neighborhoods you’ll find 12 months worth of data.
What Does the Future Hold?
I suspect prices will continue to creep up because of the lack of supply but as would-be sellers see the gradual increases in sales prices more folks will try and sell their places.
What Do You Think?
Have you been shopping for a condo recently? What do you think of what’s available for sale? Made any offers? How did those go?
Redfin has a spreadsheet available if you want to dig into the data for for a neighborhood or city not included here (or for single-family home and townhouse data.) You can also checkout the spreadsheet I have for putting the graphs together.
Disclaimer: I work at Redfin and this is one of the projects my team works on.
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Oh nice! Another double height Banner Building unit. Unit #401 is 2,000 square feet and priced at $985k. It last sold for $992k back in 2005 and was last on the market in 2010 for about the same price.
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