The Mark Company's Condominium Pricing Index for November is out and Downtown Seattle condo prices continued their trends of reaching new highs, rising 2 percent from October to $833/square-foot. It's the second-consecutive month to hit a new all-time high and it's also a 15 percent gain on November 2014. New construction inventory dropped 4 percent from October but is still up a whopping 118 percent from this time last year. You can thank Insignia, Luma and Gridiron Condos for that. Speaking of, there are approximately 365 units now available (3 in Four Seasons Residences, 131 in Insignia, 131 in Luma and 91 in Gridiron). Insignia seems to be the big mover right now, as it has 16 less units available than October while Luma's number was the same and Gridiron only sold one.
· The Mark Company Trend Sheet [TMC]
· Downtown Seattle Condo Prices Hit New High in October [CS]