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September 2010

August 2010

Escala Update

Escala sign board
I was having dinner downtown the other day and came across one of Escala's sign boards.  I couldn't help but notice the catchy tagline "More Than A Price Reduction."  I'm sure some buyers would like the sound of that.  So far, the project has 76 sales of which 48 have closed. Even though they have only sold around 30%, according to the Escala sales folks, they have outsold all other condos in Belltown and downtown. The sales center has averaged 10-12 sales/month since the new marketing team took over in March of this year.  The condo will support FHA-approved loans once they reach the threshold of 81 sold homes. 

One bedroom's start at $384,000 and two bedroom's start at $699,000.


The Enclave on Lake Union

The Enclave

Looks like this weekend is going to be a busy one for the real estate market.  The Enclave on Lake Union has just opened their sales center and will be having their open house from 12-4pm on both Saturday and Sunday.  It's not really a condo project (collection of homes) but I don't think we are going to hear of any interesting and new projects near downtown for a while so we're gonna bend the rules this time.  I have to admit, this particular project seems really interesting. 

Continue reading "The Enclave on Lake Union" »

Seattle Condo Mega Open House This Sunday


This Sunday (1-4pm), Belltown is going to have a mega open house. Over 40 condos will be open in 18 different buildings. You will find anything from a studio priced at $225,000 to a two bedroom priced at $1.395M.  If you are in the market, this is probably a great time to put on your walking shoes and check them out.

List of open houses


Olive 8 going Auction

Olive 8 Auction

Olive 8 is going on Auction on September 19th (Sunday).  34 homes will be auctioned by Kennedy Wilson, who was also responsible with the auction for 5th and Madison, Press, and Queen Anne High School.  The 34 homes were previously priced from $395,000 to $1,235,000.  Starting bids will range from $160,000 to $440,000.  Click here for more info. 

Related post:

5th and Madison and Trace Lofts Update 
Queen Anne Auction- By the numbers
Lumen Auction Results
Brix and Gallery Auction Results
Press Auction: Going once, Going twice, Gone!


(Pictures contributed by Adriel Tam; home available for rent at CHBO)

The Portofino is a 4-story brick building located on the corner of Summit and Pine in the Pine/ Pine District.  It was a warehouse built in 1919 and later converted to a condominium.  There are 25 homes occupying the 2nd to the 4th floor. The interior finishes are fairly modest unless the owners have remodeled their homes.

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Seattle Condo Market Update - July 2010 Results

Numbers are in for July 2010 and the headline should be "Post-Tax Credit Sky Doesn't Fall."  Well, it wasn't an amazing July, but it was less bad than June which was less bad then May.  Here's a picture.

Yoy sales july 2010

Some more tidbits:

  • Belltown/downtown had the best pending sales performance of all of Seattle with another strong month (pending sales 11% higher than July 2009).
  • West Seattle had the weakest performance with pending sales 48% lower than July 2009.
  • Median prices for Seattle as a whole were up 7%.