Olive 8 Now More Than 75% Sold

Late last week as we were heads down on our new construction inventory post, Olive 8 put out a press release on how things were going, SPRING SALES SURGE AT OLIVE 8:

In another sign that the in-city housing market is recovering, brokers at Olive 8, a 229-unit condominium and hotel high-rise in downtown Seattle report better than expected sales during the Spring sales season. Since March 1, 2012 there have been more than 18 new purchase transactions at Olive 8 representing more than $15 million in sales volume, according to the NWMLS.

Based on emails with Olive 8?s marketing firm today, sounds like they’re up to 21 sales since March 1st.

With the Olive 8 penthouses now sold we’re going to need to get creative on where to hold the next Urbnlivn meetup! :)

Disclaimer: Olive 8 is an urbnlivn advertiser

Update: I totally botched this post and used an old press release. Should be accurate now.

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.

  • Bob

    Really Matt – I am sure that real estate selling community is giving the appropriate warnings to potential buyers … but at least condos in Seattle have the walkable component

    NEW YORK (Reuters) – The Housing market is likely to remain weak and may take a generation or more to rebound, Yale economics professor Robert Shiller told Reuters Insider on Tuesday.Shiller, the co-creator of the Standard & Poor’s/Case-Shiller home price index, said a weak labor market, high gas prices and a general sense of unease among consumers was outweighing low mortgage rates and would likely keep a lid on prices for the foreseeable future“I worry that we might not see a really major turnaround in our lifetimes,” Shiller said.The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.2 percent in February on a seasonally adjusted basis, the first uptick in prices in 10 months.But Shiller called it “a very mixed bag.” Nine of the 20 cities recorded falling or flat prices on the month.He said suburban areas in particular might endure further price declines as high gas prices increase demand for “walkable cities.”

  • http://twitter.com/BlueFernRE BlueFern Real Estate

    Seattle’s condo market reflected robust activity through the first quarter of 2012 (January – March). Compared to first quarter 2011, closed condo sales increased 9.2% to 404 units, though the number of closed sales dipped slightly from the fourth quarter 2011 (October – December).  
    http://blog.seattlepi.com/seattlecondo/