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New Downtown Seattle Condo Prices Rise as Inventory Shrinks

The Mark Company Condominium Pricing Index has released their new condo construction report for October and new condo prices rose 2% for the second-consecutive month. New construction inventory was down 9% from September, however, and 52% lower than October 2013, with approximately 165 units available. Available units include less than 150 residences at Insignia (Phase I), eight condominiums at Carbon 56, five units at the Four Seasons Residences and two condominiums remaining in Escala.

Meanwhile, on the resale front, the price per square foot was $543, up 5% month over month but 3% lower than October 2013. In addition, there were 47 condominium resales in Downtown Seattle in October, 97 active condominium resale listings, and 60 pending condominium resale listings, according to the Trend Sheet. While inventory remains low, sales are way above last year and will continue to be there until some of the upcoming condo projects can catch up.
· The Mark Company Trend Sheet October 2014 [RPR]
· New Seattle Condo Prices Rising, Plenty of Affordable Alternatives [CS]

Escala Condominium

1920 4th Ave, Seattle, WA 98101