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New Construction Condo Prices Rise, Inventory Keeps Dropping

According to The Mark Company Trend Sheet for February 2015, the value of new construction condominiums in Downtown Seattle was $773 per square foot in February, up 6 percent month over month and 13 percent higher than a year ago.

Over the course of the last two months, while Insignia continues to sell new units, Escala (two) and Four Seasons Residences (four) still have the number of available units.

Meanwhile, new construction inventory continues to suffer (down 59% YOY) while condo resales are down 6% from a year ago. The number of overall re-sales in the past 12 months is down 44% from the previous year. With a limited amount of condo construction on the horizon, those few outstanding units should see a continual uptick in interest. It/s either that or buy on the Eastside.
· The Mark Company Trend Sheet Feb 2015 [RPR]

Escala Condominium

1920 4th Ave, Seattle, WA 98101