Seattle July new construction update: discounts and promotions across multiple projects
We’ve been watching the overall real estate market in Seattle slow and the new construction market is no different. Multiple projects are running sales promotions and discounts through the summer to entice buyers. Here’s a recap of sales and what we’ve seen around town:
- Gridiron put one unit under contract and sold four units unlisted. Through the end of the summer, they’re offering two years of paid parking and paying the Waterfront LID Assessment.
- Emerald has put six units under contract in the last month after hitting 70% sold. Four of those units had price reductions. The team is offering discounts on several other units through the end of the summer.
- KODA saw one home under contract in the past month
- Spire closed two sales and put four units under contract, including a penthouse unit!
- Infinity Shore Club has a summer promotion of $75k towards upgrades
Beyond the condo projects and developers, some townhome builders are also running promotions to kick start sales this summer. However, the market has caused at least one builder to pause their project – Heidi Groover at the Seattle Times broke the news this week that Bosa has paused the Civic Square project at 339 Cherry St again due to the market conditions.
You can see all the projects selling and under construction on our new construction pipeline page.