The past two years have not been promising for the Seattle Condo Market, and condo developers are finally starting to see a turn around in the Downtown area. According to the Seattle Times, roughly two dozen new projects were at work between 2007-2010 during big the real-estate crash. Many of those who bought the pre-sale backed out and several developers ended up converting their buildings to rental units to cater to the economy. Those who stuck it out had to slash prices, and in many cases had to lower the costs by up to 40 percent.
Today the market is starting to look more appealing and beginning to have the first signs that it will bounce back. A few good indicators include Escala raising some of their prices; one of the largest downtown projects to date, Escala did so quietly, with the majority of their condo units selling for 99% of the asking price, they’ve begun upping the anty as their inventory gets smaller. Also of the 2,500 condo projects that have been built in downtown and surrounding areas, fewer than 250 units is left unsold. There are currently no new projects in place; most developers and lenders have put condos on hold to allow the market to recuperate. If you’re interested in learning more about finding a condo in the Seattle area, here is a list of available units.
Two of the Lakeview Townhouses, Townhouse 1308-A and 1308-B are now on the market for Sale. These Urban Town-homes are a masterful blend of concrete, wood and glass and are very unique because they were designed with sustainable low maintenance materials. 1308-B is a spacious 1,417 sqft townhouse nestled against the beautiful backdrop of five-acre greenbelt and offers 2 bedrooms and 2baths. While 1308-A offers 2 bedrooms, den and 2.5 baths. This 1,655 sqft townhome features floor to ceiling windows with partial views of Lake Union, concrete floors, and large garage.