Q1 2018 Condo Report

Q1 2018 Condo Report

Q1 2018 MARKET REPORT

Condo Report

Still the only affordable option for many homebuyers today, condos have continued to escalate in value with appreciation rates above those of residential homes in many areas. On the Eastside, new condo and townhome developments in Crossroads and Rose Hill drove prices up to new highs in those communities. Richmond Beach and Shoreline benefited from an infusion of new construction standalone condominium ‘homes’ on very small lots.

Check out all of these factoids and more in the full condo report.

 

Published April 2018.

 

ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

windermeremercerisland.com | (206) 232-0446 | mercerisland@windermere.com
2737 77th Ave SE, Mercer Island, WA 98040.

© Copyright 2018. Information and statistics derived from Northwest Multiple Listing Service.

2017 Year End Condo Report

2017 Year End Condo Report

2017 YEAR END REVIEW

Condo Report

In desperately short supply, condos have become a favorite, or the only option, for buyers looking for walkability, convenience, and affordability in one nifty little package. Experiencing one of their best years in decades, condo prices flourished in 2017 and will likely see similar gains in 2018. Well-run buildings with reasonable monthly dues, those with all the bells and whistles, and good proximity to essential services are especially popular right now.

Check out all of these factoids and more in the full condo report.


ABOUT WINDERMERE MERCER ISLAND

We earn the trust and loyalty of our brokers and clients by doing real estate exceptionally well. The leader in our market, we deliver client-focused service in an authentic, collaborative and transparent manner and with the unmatched knowledge and expertise that comes from decades of experience.

windermeremercerisland.com | (206) 232-0446 | mercerisland@windermere.com
2737 77th Ave SE, Mercer Island, WA 98040.

© Copyright 2018. Information and statistics derived from Northwest Multiple Listing Service.

Q3 Seattle Area Condo Report

Q3 Seattle Area Condo Report

Q3 2017 REVIEW

Condo Report

The Q3 median sale price increased a mere 0.6% in Seattle and 24.4% on the Eastside over Q3 2016. While Eastside condos were truly a hotbed of activity, Seattle condos fared better than the numbers appear. This is because a few ultra-high sales and high-end new construction significantly skewed the Q3 2016 median price higher than in any other quarter of 2016. That anomaly aside, Seattle condos have continued to appreciate at a brisk pace.

The total number of condo sales on the Eastside increased to 853 from 785 in Q3 2016, while the number of units sold is Seattle (809) was down 33% from its peak in Q3 of last year. Fewer desirable units available for sale in Seattle continues to be the biggest contributing factor. The Eastside, with plentiful condos for sale, has benefitted from Seattle’s short supply.

In Q3, East Lake Sammamish had the newest condos with an average year built of 1999. The largest 2-bedroom condos, with an average of 1,412 square feet, were in the Downtown/Belltown area. The most affordable condos, with 2-bedroom units sold for an average of $275,000, can be found in the Lake Forest Park-Kenmore neighborhood. The highest priced condos were in Downtown Seattle-Belltown condos sold for an average sale price of $987,000.

This report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average sale prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends.

 

Check out all of these factoids and more in the full condo report.

 

© Copyright 2017, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing service.

Q2 Seattle Area Condo Report

Q2 Seattle Area Condo Report

Q2 2017 CONDO REVIEW

Condo Report

The Q2 median sale price increased by 14.6% in Seattle and 17.2% on the Eastside over Q2 2016. The total number of condo sales on the Eastside remained about the same (829) while the number of units sold is Seattle (845) was down 17% from Q2 of last year. Fewer units available for sale in Seattle was the biggest contributing factor.

In Q2, East Lake Sammamish had the newest condos with an average year built of 1998. The largest 2-bedroom condos, with an average of 1,371 square feet, were in the Downtown/Belltown area. The most affordable condos, with 2-bedroom units sold for around $247,000, can be found in the Lake Forest Park-Kenmore neighborhood. The highest priced condos were in Downtown Seattle-Belltown condos sold for an average sale price of $905,000.

This report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average sale prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends.

Check out all of these factoids and more in the full condo report.

 

© Copyright 2017, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

Q1 2017 Seattle Area Condo Report

Q1 2017 Seattle Area Condo Report

Click to view the quarterly condo report for Mercer Island, Seattle and the Greater Eastside.
Published April 2017

Condo Report

Seattle area condos saw the Q1 median sale price increase by 14.5% over Q1 2016, while Eastside condos rose 17.3%. Both regions continue to experience stronger appreciation in condos than in single-family homes—a clear sign that affordability and in-city living are strong drivers in the local housing market.

Downtown Seattle-Belltown, Madison Park-Capitol Hill, and Juanita-Woodinville were nearly tied for the most sales in the Greater Seattle-Eastside region with each having just shy of 120 units sold in Q1.

Overall, the newest condos can be found in Downtown Seattle-Belltown with an average year built of 1998. The largest 2-bedroom condos, with an average of 1,562 square feet, are in West Bellevue.

The most affordable condos, with 2 bedroom units sold for around $259,750, can be found in the Richland Beach-Shoreline neighborhood. On the other hand, Downtown Seattle-Belltown condos sold for an average sale price of $1,150,000.

This report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average sale prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends.

Check out all of these factoids and more in the full condo report.

© Copyright 2017, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

2016 Annual Seattle Area Condo Report

2016 Annual Seattle Area Condo Report

Click to view the year end condo report for Mercer Island, Seattle and the Greater Eastside. Published January 2017

This report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average sale prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends.

Seattle area condos saw the annual median sale price increase by 13.3% over 2015, while Eastside condos rose 16.0%. Both regions experienced stronger appreciation in condos than in single-family homes—an early indicator that affordability is becoming a factor for local home buyers and evidence that millennials have entered the market in force.

Downtown Seattle-Belltown had the most sales volume in the Greater Seattle-Eastside region with 933 units sold in 2016. An extreme shortage of condos available indicates 2017 will remain a strong seller’s market for Seattle-Eastside region condos.

Looking for a newer condo? You’re most likely to find one in Downtown Seattle-Belltown or East Lake Sammamish. Want the largest 2-bedroom condo you can find? With an average of 1,420 square feet, West Bellevue would be your best bet.

The most affordable condos, with 2 bedroom units selling for around $250,000, can be found in the Lake Forest Park-Kenmore and Richland-Shoreline neighborhoods. At the other end of the spectrum, Downtown Seattle-Belltown condos sell, on average, for more than 4 times that amount with an average sale price in 2016 of $1,053,000.

Check out all of these factoids and more in the full condo report.

© Copyright 2011-2017, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed. For questions or comments, email Julie Barrows at julie@windermere.com.

Q3 2016 Seattle Area Condo Report

Q3 2016 Seattle Area Condo Report

While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends. Looking at regional prices, the average sale price of Seattle area condos was 20.6% higher than in Q3 of 2015, and Eastside condos rose 9.5% during the same period.

The average sale price of a typical 2-bedroom condo was up the highest in the Seattle communities of Madison Park-Capitol Hill (25.5%), North Seattle (24.9%), and Downtown-Belltown (23.1%) over Q3 2015. On the Eastside, West Bellevue (24.2%), Juanita-Woodinville (22.5%), and South Bellevue-Issaquah (21.4%) posted the highest year-over-year gains.

When it comes to the overall volume of sales, Seattle at a record-breaking 1202 sales in Q3, was up nearly 18% over the strong second quarter of this year. The Eastside, with 785 sales, was down from 839 sales in Q2.

Looking for a small studio? You’re most likely to find one in Madison Park or Capitol Hill. Want to stretch out into a spacious 3-bedroom floor plan? East of Lake Sammamish is where the largest units can be found.

Check out all of these factoids and more in the full condo report.

© Copyright 2011-2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed. For questions or comments, email Julie Barrows at julie@windermere.com.

Q2 2016 Seattle Area Condo Report

Q2 2016 Seattle Area Condo Report

Condo buildings are like neighborhoods all unto their own. Each has its own unique characteristics that make up the flavor of the individual units that reside there. Be it modern and edgy or traditional and quaint, fresh-looking or dated, well-maintained or in need of a little TLC, the condominium association and its members together decide what their “neighborhood” will look and feel like. Couple that with reserve studies, savings for capital improvements, usage restrictions, and lending regulations which decide which condos will be approved for financing and which won’t, it’s easy to see why a broad overview of data and appreciation rates might miss the mark. Some condo neighborhoods with favorable conditions and amenities will be a hotbed of activity while other may sit stagnant for months.

Looking at prices from the thousand-foot level, Seattle area condos appreciated 16.1% from Q2 of 2015 to Q2 of 2016 while Eastside condos rose 9.7% during the same period. The Seattle communities of Beacon Hill, Leschi, Mount Baker, Seward Park and Lake Forest Park-Kenmore were hotbeds of activity and saw prices increase 30% or more overall (keeping in mind that some buildings faired far better than others). On the Eastside, the South Bellevue, Issaquah, Lakemont, Juanita and Woodinville areas all had sale prices that were 28-30% higher than those of Q2 2015.

Madison Park, Capitol Hill, Richland, and Shoreline had the smallest increase in average sale price in Seattle while Redmond-Carnation and Kirkland-Bridle Trails had the smallest increase on the Eastside for Q2.

Downtown Seattle-Belltown led the pack with 270 closed sales for the quarter, followed by Madison Park-Capitol Hill (203) and East Lake Sammamish (183). Overall, the newest condos can be found in Ballard-Greenlake and East Lake Sammamish while the largest ones can be found in West Bellevue and Downtown-Belltown. Looking for a small studio? You’re most likely to find one in Madison Park or Capitol Hill. Want to stretch out into a spacious 3-bedroom floor plan? East of Lake Sammamish is where the largest units can be found.

Check out all of these factoids and more in the full condo report.

© Copyright 2011-2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed. For questions or comments, email Julie Barrows at julie@windermere.com.

Q1 2016 Seattle Area Condo Report

Q1 2016 Seattle Area Condo Report

The Q1 2016 Condo Report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. It is an invaluable resource to utilize in your condo search.

Click here for the full report!

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

2015 Condo Report for Greater Seattle and the Eastside

The 2015 Condo Report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. It is an invaluable resource to utilize in your condo search.

Click here for the full report!


 

© Copyright 2016, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

2014 Seattle-Eastside Condo Report

The 2014 Condo Report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually and the average cost per square foot. It is an invaluable resource to utilize in your condo search.

Click here for the full report!

© Copyright 2015, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.

2013 Seattle-Eastside Condo Report

The 2013 Condo Report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually and the average cost per square foot. It is an invaluable resource to utilize in your condo search.

Condo-Report-2012

2012 Seattle-Eastside Condo Report

The 2012 Condo Report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually and the average cost per square foot. It is an invaluable resource to utilize in your condo search.

Condo-Report-2012