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April 2013

Condo Review - The Vine Condominiums in Belltown

The Vine Condominiums - Belltown
2607 Western Ave, Seattle
Downtown Seattle Condos

The Vine Condominiums is a two tower condo community on the northwest end of Belltown. Being one of the first large scale condos in the newly emerging Belltown back in the early 2000’s it sits on a prime piece of land  close the waterfront and is close to the Olympic Sculpture Park, Myrtle Edwards Park and the biking and running trail along the waterfront. It is also close to the amenities of Belltown, Lower Queen Anne and the Pike Place Market putting it just a few blocks from a plethora of restaurants, cafes, and events. The building was built in 2002 so some of the interiors might feel a bit dated but the building has made updates to their common areas to keep the building feeling modern.

The stats:

  • 177 units
  • 2 towers – one is 12 stories, the other is 6 stories
  • Built in 2002
  • There are studios, one and two bedroom units
  • Range in size from approximately 447 - 1494 square feet
  • All have 1 or 2 parking spaces and all have storage
  • 10 units have sold in the last 6 months ranging in price from $278,000 to $610,000
  • HOA dues include: sewer, garbage, water, gas (for fireplaces and gas ranges), earthquake insurance, amenities, master insurance policy
  • Amenities: party room (recently updated), community view terrace with BBQ, gym, hobby room/shop, car wash area, concierge, two guest suites, conference room, 24 hour concierge staff

Continue reading "Condo Review - The Vine Condominiums in Belltown" »

It's a Seller's Market: Seattle Condo March 2013 Update

I took a look at March 2013 data and pretty much every neighborhood has the same story.  Sales up. Median prices up.  Inventory flat.  

If you were one of those condo investors waiting for the market to pick up to avoid having to have a unit sit on the market too long, your time may have come.  You'll not reap huge windfalls from a pricing point of view but you'll certainly see some action and at a price that's considerably more than you would have gotten a year ago.

In terms of neighborhoods, Belltown/Downtown and Queen Anne/Magnolia both had almost double the units sold in March as they did in Feb but number of listings available was either flat or down versus February.  


Seattle Condo Sales MOM

Continue reading "It's a Seller's Market: Seattle Condo March 2013 Update" »

East Boston Street Condominiums in Eastlake

East Boston Condominiums – Eastlake
201 East Boston St, Seattle

Downtown Seattle Condos
The East Boston Street Condominiums are a small boutique condo building located in the popular Eastlake neighborhood.  Being on the south east side of Lake Union it’s close to downtown, I-5, as well as the University of Washington to the North.  With only 6 units it’s a great option for those seeking the conveniences of condo living but without the big condo building feel.  It doesn’t have all the super high end finishes, but units are well laid out, comfortable and pricing is reasonable.

The stats:

  • 6 condo units and one commercial space on the street level
  • 4 stories
  • Built in 1989
  • All units are two bedrooms
  • Range in size from approximately 1,112-1,178 square feet
  • All have parking, 4 of the units have parking for 2 vehicles in tandem spaces
  • All units have storage units
  • 1 units has sold in the last year at $415,000
  • HOA dues include: sewer, garbage, water, earthquake insurance master insurance policy
  • Amenities: The building itself does not have common amenities other than the secure entry, secured parking garages and storage units


Continue reading "East Boston Street Condominiums in Eastlake" »

Trio Condominiums in Belltown

Downtown Seattle Condos

The Trio Condominiums were built during the new construction boom of 06/07 by Triad Development and was completed in 2008. It is located in Belltown on Western Ave between Denny Way and Bay Street.  The building offers a mid-range level of finishes and building features, which
makes it popular for the mid-price range buyers seeking newer constructed condos with modern touches and amenities.  

Continue reading "Trio Condominiums in Belltown" »

Seattle Condo Market Has Bottomed Out?

It wasn't that long ago when many people were absolutely convinced that we were heading into a double dip recession and as such condo prices in Seattle would crash well beneath their 2011 lows.  Well, I suppose anything is possible but we're now in 2013.  And the situation has changed.  Buying clients are now complaining more about not enough listings to see and buy, and selling clients are pleasantly surprised when their property is often sold in weeks and not months.

Just so you can see in the actual data, below is years of downtown Seattle real estate pricing in one nice chart (thanks to our good friends from Zillow).  Feel free to check it out and join us in calling the Seattle condo recession gone (choose the 10 year view to see how bad 2011 really was).  Yes, it's not red hot like in 2006 but then again, that's probably a good thing!





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