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May 10, 2015 - May 16, 2015

This Week's High and Low and Everything in Between

Each week we are going to highlight the highest priced condo and lowest priced condo to sell in Seattle during the previous week. We will also give you the averages for everything in between that sold in Seattle that week.

Here is the high, the low and everything in between for the week of May 4th through the 10th.

The High:

#1602 at Madison Tower – 1000 1st Ave in Downtown Seattle
High 5.11.15

  • Original List Price: $1,000,000 
  • List Price When Sold: $925,885
  • Sold Price: $915,000
  • 2bd 2.5ba
  • 1,444 square feet
  • Price/Sq Ft: $633.66
  • Built 2006
  • Days on market: 302

The Low:

#7209 at Veridian Cove – 300 N 130th St in Bitter Lake
Low 5.11.15

  • List Price: $152,200
  • Sold Price: $152,200
  • 1bd 1ba
  • 646 square feet
  • Price/Sq Ft: $235.60
  • Built 1988 – converted to condos in 2008
  • Days on Market: 2

Everything in between:

  • 39 condos sold in Seattle
  • Average List Price: $347,619
  • Average Sold Price: $355,394
  • Average Square Footage: 957
  • Average Price/Sq Ft: $395.94
  • Average Days on Market: 39

By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.

Luma Unit Specific Pricing Released and Other Details

RenderingLuma, the new construction condo building on First Hill, has released it's unit specific pricing. You can access those on their website, via the floor plan finder tool.

Below are some other details about Luma that we learned since visiting the sales center with our clients.

Sales Process:

  • On June 1st the sales process will start-  they will not be taking any reservations prior to that
  • They will have a one page form for buyers to indicate their top choice(s) for units and that form is due to the sales center by June 1st (they will be sealed and not until June 1st
  • If you’re the only one with interest in a specific unit, you will be notified of this and the unit will be yours to purchase and you will go directly to purchase and sale agreements (contracts) at that time
  • If there are multiple people interested in the exact same unit once they open up the sealed forms, there will be a process to resolve that though the sales center didn’t indicate what that exact process looks like quite yet
  • Those that come after June 1st,  it will be first come first serve and straight to purchase contract on the remaining units
  • 5% Earnest deposit will be required
  • Financing contingency for 30 days to allow buyers to confirm and secure their financing with a lender


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