Parking is a big deal these days in Seattle. Many of the upcoming condo and apartment projects aren't offering it even as they and other buildings gobble up space formerly used as parking lots. So it's probably not too much of a surprise that Seattle real estate listings that that promote parking receive a 7.3% increase in sales price.
Per a recent Wall Street Journal piece, 41.3% of Seattle listings mention parking. Those listings have a median sale price of $322K, compared to $300K for those that don't mention parking.
Realogics Sotheby's International Realty's Dean Jones even goes as far as to say offering a second parking stall "can fetch $50-$60,000 upwards of $100,000 in some situations."
Makes you wonder if condos such as this one in the Seaboard Building could sell for the original asking price of $720K instead of it's latest price-chop if the building offered parking. Meanwhile, this $1.7M condo in Fifteen Twenty-One Second Avenue boasts about two-car parking to help justify the price tag.
We're curious to know how much parking, or the lack thereof, has impacted your Seattle buying or selling experience. Let us know in the comments below.
· As Featured in the Wall Street Journal "Park Here, Pay More" [Realogic's Southebys]
· Parking in Seattle nets dollars for homeowners [MyNorthwest]