Seattle new construction June update

We’re overdue checking in on the new construction projects around the area! I’m certainly more optimistic now than I was in January because for the last three months buyers have been putting over 300 (previously owned) condo units a month under contract which is a lot. So buyers are out there.

With buyers out there how are the different buildings doing?

• Spire has put 34 units under contract this year after switching sales teams and should be around 35% pending
• Emerald has closed 37 units and has 11 pending putting it at 18% sold + pending
• Nexus has closed 19 units and has 6 pending since the beginning of the year. Looks like they have 36 units left
• Encore has 7 units pending since the beginning of the year
• Koda has 5 units pending since the beginning of the year
• Gridiron has closed 2 units and has 1 pending since the beginning of the year. Sales started in 2015(!)
• Infinity Shore Club has 1 pending
• Edison has 1 developer owned unit to sell, looks like it is in foreclosure
• The Pinnacle has closed 1 unit and has 1 pending since the beginning of the year.
• Wallingford45 is finally sold out (last two units have gone pending)
• Goodwin has apparently started sales but doesn’t have anything in the MLS
• Graystone is accepting reservations, unclear how many have been made

Meanwhile, we’ve been expecting Seattle House and/or Shoresmith to start sales but neither has. If they don’t get going soon, I expect September is the soonest we’d see them launch.

You can see all the projects selling and under construction on our new construction pipeline page.