Downtown Seattle new condominium prices dropped 2% in December 2014 as inventory plummeted 13% from November and 55% from 2013. The average cost of a new condo rose 3% to $711 per square foot in 2014, however. This all according to The Mark Company, who released their monthly report.
That square-footage number would be for a new 10th floor, 1,000 square-foot condo. If you wanted to upgrade to a penthouse, you'd be looking at $1,100 per square foot, a number that's down 2% MOM but up 3% YOY as well. Per TMC, the only four new developments you can currently get a condo are Carbon 56 (8 units available), Escala (2 units), Four Seasons Residences (4 units) and Phase I at Insignia (130+).
· Mark Company Trend Sheet [RPR]
· New condo costs in Seattle rise 3% in a year [PSBJ]