The market is weird right now! We’re seeing lots of touring activity on condos in the $1.3m-$2m range, but not much traffic for starter condos. Good single-family homes remain hot. Surprisingly, we got into a multiple offer situation on a $1.6m downtown condo (and won). Plus that Trace North penthouse we featured last week had multiple offers and below we describe the amazing interest in pricey Eastside luxury condos. Buyers are out there, they’re just super picky and willing to wait.
As expected new listings slowed this week with just a couple catching our eye. Our fave has to be this remodeled $4m waterfront home in south-west Seattle, a huge loft at Union Arts Co-op, and just in time for winter, a loft at the Pass Life.
We spent the week digging into new construction around the area to give you an update on where things are at as we head into fall. The big news is that Avenue Bellevue broke ground and has reserved 33% of their Estates (starting at $1.3m) and just launched their Residences (starting in the mid-$600s.) We expect their Residences to sell quickly. Meanwhile in Kirkland Evoke has 6 of their 9 units reserved, which is notably given prices start at $3m. Over in Seattle, Solis on Capitol Hill has decided to convert to apartments while the Volta in Belltown is converting from apartments to condos. On the blog we look took a look back at the Neighborhood Collection and its launch a year ago. We also took a look at Roost on Bainbridge, a design-forward new community that looks promising. Looking forward to next week, we expect announcements from two new construction projects.
p.s. need a modest island compound? Here’s a great one on Lopez.