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October 2011

2011 Was Pretty Lame, How about 2012? (Poll Closed)

As we approach a few more months in 2011, we can look back and see that prices were as low as >15% below 2010 levels "climbing" to 10% below last year's prices.  Clearly, not a banner year but seemingly stabilized.

What do you all think about 2012?  More flatness, a second dip, or perhaps a year better than the last?

Vote below! (Poll Closed)

  October 2011 Poll Results

By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.


Inventory Glut Showing Improvement: Months of Inventory Down by 50% Versus Same Time Last Year

September condo sales figures are in and here are some highlights:

  • Inventory is at its lowest level for this year coming in at less than 1,000 condos on the market. Listings were down 7% versus August.
  • Pending sales are up by 34.67% compare to same period last year and about the same as the previous month.
  • Year-over-year sales were up 4.58% but were down from the previous month by ~20%.
  • Median prices were steady floating around $240,000 to $255,000 for the last few months but down by close to 20% from a year ago.
  • Months of inventory (how long it would take to consume all the available units based on current run rate) continues to show improvment from a year ago. We had about 7 months of inventory on the market based on closed sales and 5 months based on pending sales. Compared that to a year ago, it was at 11 months and10 months respectively.

Seattle Condo Sales (M-0-M)

Continue reading "Inventory Glut Showing Improvement: Months of Inventory Down by 50% Versus Same Time Last Year" »


Ni Hao?

Any agent readers out there fluent in Chinese (mandarin)?  I have a Chinese speaking investor client who's looking to buy into the Seattle condo market.  Email me directly if you'd like to help.


Vulcan Condo News

If you can recall, Vulcan Real estate had 5 condo projects: 2200 Westlake, Enso, Rollin,  Veer Lofts, and Martin planned during the condo boom. With the exception of Martin, the rest were completed as condos. However, Rollin was later converted to an apartment. The Martin project was put on hold. Now, it looks like Vulcan Real Estate is going to start constructing this project very soon, not as a condo but as an apartment. The 24-story, 188 apartment building will be completed in 2013. It's located right behind the Cinerama Theater on 5th Ave and Lenora St. Read more on Seattle Times.

THe Martin Map

Related post:

What's going on in South Lake Union 

 

By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.


Marselle & Danielle Over 70% Sold

Danielle Marselle Condos
                          Danielle                                                                   Marselle

The Danielle project which was completed last summer is now down to six from an original thirty one homes. With over 70% sold, their close out pricing for their one bedroom units are priced at $199,950 (3 remain), one bedroom plus den is $269,950 (2 remain) and the lone two bedroom is at $479,950.

As for Marselle, they have sold about 100 homes, which puts them at about 75% sold. The one bedrooms start at $219K, the one bedrooms with den at $289,990, and the two bedrooms start at $394,990. There are also some cool two-story homes that are two bedroom plus den and 2.5 bath or could be converted to three bedrooms. Each of these two-story homes also has private access to roof top decks.

Related posts:

The Danielle
Danielle Update
Marselle Condos Update
Marselle Condos

 

By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.