Seattle Times on Condo Appreciation

Seattle Times: Condos appreciate strongly; studios lead:

Since 2000, King County condominiums have outperformed single-family houses two out of five years. And even when they haven’t, their appreciation has been strong.

In 2005, for example, the county’s single-family houses appreciated 16.3 percent per square foot. Condos climbed a healthy 13.5 percent.

The article also lists to some good sidebars:

I get the sense that as home prices went up and the first part of the baby boomer generation whose kids have left started unlocking the value in their homes and moving to relatively cheap condos. Now that housing is slowing down condos are catching up but will also plateau out in a year two (unless interests start to decline). Especially consdering we’re already seeing condo prices for 2 bedroom condos downtown approach the prices for houses in neighborhoods bordering downtown.

About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Peckham

    I read the following in an article written by DEBORAH YAO, AP Business Writer:

    “From coast to coast, developers are nixing or delaying condominium projects as home sales decelerate, construction costs soar and lenders start to balk at financing units that might not sell. What’s making it worse is the glut of high-priced condos and too few people who can afford them… With housing looking increasingly anemic, it’s not surprising that developers are bailing out.”

    I can’t help but think that all this sales hype and lifestyle-speak is just a ploy to sell these Vulcan projects before Seattle catches on to the downward trend that is happening all around the rest of the country. You know, stuff like this:

    “Sales of existing single-family detached homes dropped 25 percent in the Bay Area from second-quarter 2005 to second-quarter 2006, Prudential California Realty reported, while the inventory of active listings increased 34 percent. Sales of existing single-family detached homes dropped 35 percent in Napa County in second-quarter 2006 compared to second-quarter 2005, and fell 32 percent in Sonoma County and 30 percent in Solano County.

  • Peckham

    I read the following in an article written by DEBORAH YAO, AP Business Writer:

    “From coast to coast, developers are nixing or delaying condominium projects as home sales decelerate, construction costs soar and lenders start to balk at financing units that might not sell. What’s making it worse is the glut of high-priced condos and too few people who can afford them… With housing looking increasingly anemic, it’s not surprising that developers are bailing out.”

    I can’t help but think that all this sales hype and lifestyle-speak is just a ploy to sell these Vulcan projects before Seattle catches on to the downward trend that is happening all around the rest of the country. You know, stuff like this:

    “Sales of existing single-family detached homes dropped 25 percent in the Bay Area from second-quarter 2005 to second-quarter 2006, Prudential California Realty reported, while the inventory of active listings increased 34 percent. Sales of existing single-family detached homes dropped 35 percent in Napa County in second-quarter 2006 compared to second-quarter 2005, and fell 32 percent in Sonoma County and 30 percent in Solano County.