Prices up 8.7% to $625,000 for August

This week everyone came out with the their reporting on what happened with the real estate market in August. TL;DR: the median Seattle single-family house cost $625,000 in August, up 8.7 in the last year. First up, the Seattle Times, Seattle home prices slow their climb, but shortage of inspectors raises anxiety: About three-fourths of… Read More

Buyers Aren’t Giving Up, Too Little is For Sale

Curbed Seattle pulls together quotes from a few different sources and asks, Seattle’s housing market so good for sellers, are buyers giving up? It is a catchy headline, one that has been making its way around social media the last day or so. We’ve worked with a lot of clients this year and no one… Read More

Seattle Median SFH Home Price Now $666k

The Seattle Times is reporting Seattle’s devilish new home price record: $666,000: Seattle’s median single-family home cost $666,500 in June, easily beating out the record set in February, according to figures released Wednesday by the Northwest Multiple Listing Service. Seattle home prices have risen 15.9 percent just in the past year and an astounding 74… Read More

Residential Pipeline: 147 Projects Worth $3 Billion

RealMassive, a commercial real estate portal dug into the Seattle Department of Planning’s database to see what the residential pipeline holds: The permits database is somewhat messy and includes everything from a 40-story high-rise tower to replacement of landscaping. Rather than spend the next week looking through all 5,000 permits I have reduced the field… Read More

When Will I Find My Dream House??

I’m helping a lot of people buy a new home this year and for almost all of them it is a waiting game and even though we’re only a month into 2016, it is proving to be an excruciating wait for many of them. While their dream home might hit the market tomorrow chances are… Read More

Sales Update: Insignia 84%, Luma 30%, Vik 91%, Girdiron 15%

We checked in with all the new construction projects (or the MLS) and heard back from all except Luma to get you the updated below. We get the most questions about Insignia. Sadly, there are no cheap units left! The cheapest unit is a 2nd floor two bedroom for $733k. The second most frequent question… Read More

Sales Update: Insignia 82%, Luma 16%, Vik 86%, Girdiron 14%

Quick update on sales numbers for new construction projects in the area. Sales for the projects we have received updates from have slowed, with the exception of Vik, and possibly Luma, but Luma is going to update on sales numbers until the end of the year. This update we’re adding Hyde, a new condo development… Read More

Dupre + Scott Sounds the Alarm for Investors

Dupre + Scott, a rental research firm, sounds an alarm for apartment investors through the PSBJ, A warning to apartment investors: Seattle market not as hot as it seems: This is according to a new report by Seattle research firm Dupre + Scott Apartment Advisors, which forecasts rents at older buildings will increase only 1.5… Read More

Condo #s: Insignia 67%, Luma 13%, Solo 90%, Vik 63%

We’re long overdue on an update on how the four condo projects in Seattle are selling. Insignia, the largest, has sold a lot. An impressive 197 units are pending at their newest tower, the north one, since sales started in March. As for their south tower, a bunch of people closed this week and are… Read More

Condo Sales #s: Insignia S. 70%, Salt 14%, Solo 90%, Vik 30%

Selling Now Insignia North Tower – ??? 348 total units. Notes: they’ve been writing purchase & sales, no number disclosed yet Move in date: ??? Insignia South Tower – 70% sold 350 total units. Move in date: this summer Salt – 14% sold 34 total units. 5 sales. 29 remain. Move in date: early summer… Read More

Condos Cost >$750/SF to Build

Marc Stiles as the PSBJ dug into why new condos aren’t being built, This is why Seattle developers are building apartments, not condos, and concludes it might be that construction costs are higher than what buyers are willing to pay: During a panel discussion last week at a Bisnow event, Parsons [of Holland Partner Group]… Read More

23% of Q4 Sales Were Cash Only

Looking to buy this spring? Beware that like years past, you’re still going to be being going up against cash buyers, investors and institutional investors. From, Four-year lows in institutional investors and all-cash buyers in 2014 despite increase in fourth quarter: “Cash buyers are still king in Seattle; made up primarily by investors at the… Read More

Dupre + Scott: Rents up 8.2% in Last Year

Seattle Condo May Market Report

Polaris Pacific, a real estate marketing firm in San Francisco, recently released their May report on the Seattle condo market. Highlights include: Median price increased 3.0 year-over-year Sales decreased 1.1% year-over-year Days on market decreased 12.5% year-over-year

Dupre + Scott Surveys the Rental Market

Apartment research firm Dupre + Scott have completed their twice a year survey of 2,163 properties encompassing 223,100 units. Here are the high level points: The vacancy rate is 3.6%, down from 4% last fall. It has only been this low once before since 1980. Vacancies fell in all five counties over the past six… Read More

Seattle New Construction Update: 48 Units Left, 370 Coming

Last we checked in August there was 58 new construction condos for sale. Checking today we’re down to 48 new construction condos left on the market that you could buy and move into. There are also 370 condos that are not yet built but are being marketed. Still Selling Escala — 92.5% Sold 269 Units,… Read More

Seattle New Construction Update: 58 units left

Last we checked in March there was 62 new construction condos for sale. Checking today we’re down to 58 new construction condos left on the market (a search of Redfin shows 33 new construction condos for sale though same agents seem to be claiming that units built in 2006 are “new construction”). Still Selling Escala… Read More

June Condo Report: Prices +5.8%, Sales -20.7%, Inv -3.6%

Here’s our report on what happened with the Seattle condo market in June! The quick overview is that prices are up 5.8%, sales are down 20.7% and the number of condos for sale is down 3.6%. Compared to last year prices are up 9.3%, sales down 18.3% and the number of condos for sale is… Read More

What It Takes To Win

Thought after doing an update on the market last week and how many new construction condos are left it’d be worthwhile taking a look at how hard it is to win an offer these days. The news seems to be mixed. For some homes in downtown Seattle, the ones on market a little longer, there… Read More

May Market Report: Prices -4.7%, Sales -13.3%, Inv +17.3%

Here’s our report on what happened with Seattle condo market in May! The quick overview is that prices are down 4.7%, sales are down 13.3% and the number of condos for sale is up 17.3%. Compared to last year prices are up 1.4%, sales down 8.9% and the number of condos for sale is down… Read More