Image: Sounder Bruce
Downtown Seattle new condo prices were up 5 percent in March from the previous month, according to the latest Condominium Pricing Index by The Mark Company. That's also an 11 percent climb over the last months. Condominium Pricing Index for March was $808 per square foot, up 11 percent from the previous year. New construction inventory increased 58 percent over the same period last year with 416 new construction condos currently available in Downtown Seattle. However, the vast majority of the available units are attributable to the addition of the North Tower at Insignia (407 units), driving an inventory increase of 253 percent over last month. The resale condo market remains low, however, with only 73 active resale listings downtown. Everyone wants shiny and new and they're clearly still willing to pay for it.
· The Mark Company [TMC]
· New Construction Condo Prices Rise, Inventory Keeps Dropping [CS]