The Mark Company's Condominium Pricing Index for October is out and Downtown Seattle condo prices were up 5 percent in October, reaching a new high of $814 per square foot. That surpasses the previous peak of $808 per square foot in March and is now 11 percent higher than October 2014. New construction inventory also went up 23 percent in October. There are now approximately 374 units available (147 in Insignia, 131 in Luma and 92 in Gridiron).
The average resale price per square foot for Downtown condos went up 4 percent to $608 per square foot and is now 12 percent higher year-over-year. Resale inventory, however, remains low at 71 active Downtown condo listings.
· The Mark Company [TMC]