This week’s Condominium Report for the Downtown Seattle Residential Real Estate Market
DAY 101 for 2023…
Welcome back to another edition of TUESDAY Condo Market Pulse… where we’re keeping our fingers on the pulse of the Downtown Seattle condominium market for you so you don’t have to.
Each week, we’ll be bringing you the latest in Downtown Seattle condo listing and sale activity, and also opportunities to enter into our spontaneous contests to win fun, healthy dinners for two.
So… what stands out for this past week in condo activity?
Here are the market’s vitals…
As of 4/11/23, we have 146 active listings on the market with an average of 120 cumulative days on the market (CDOM). For perspective… this is par for February 2023 and down slightly from March of 2023.
For the past 7 days, we had 11 new listings come onto the market; with Spire Condominiums (new construction in Denny Triangle) being the lions’ share of that activity.
Just for fun… Do you want to see the most expensive Downtown Seattle Condominiums for sale as of 4/11/23? Click here!
When you want to know the pace of the market… look to Pending listings, considering both “Pendings” was well as “Pending Inspections” statuses.
We have 35 Pending listings (new purchase contracts between buyer and seller which have not yet closed, free from Inspection contingency) with an average of 38 Cumulative Days on Market.
Pending Inspections (PI): 10 PI listings with an average of 83 CDOM…skewed heavily by one at 517 days CDOM. Congratulations to that seller!
Last… from a historical perspective, we look at SOLD (closed listings).
For the past 7 days, 9 SOLD listings crossed the finish line with an average of 10 CDOM.
Showing us the historical heat of the market… that being how competitive the market is… we look at Sale Price to Listing Price ratio. For these recent sales… we see 98.39% SP%OLP.
And what especially stands out?
Maybe you’d like to have your own private parking space close to the downtown ferry terminal.
Well… here it is: Parking at Waterfront Place for sale $60K – On Western Avenue between Madison and Spring. Could that beat what you pay for monthly parking in downtown Seattle?
We look forward to updating you next week with another TUESDAY Condo Market Pulse.
Watch our YouTube video of this edition of TUESDAY CONDO PULSE and see if you can identify the land mass across Puget Sound, from where this video was shot. Lucky winner gets a free (delicious, healthy dinner for two).
See you next week!
Data source: Northwest Multiple Listing Service.