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Downtown Seattle Condo Prices & Inventory Down in July

The Mark Company's latest Condominium Pricing Index is out and resale pricing experienced a slight one percent increase since last month in Downtown Seattle. New construction condo numbers actually took a hit as well, month over month. New Condo prices were down two percent to $757/square-foot from June. With only 26 units sold downtown in July, that number dropped 70 percent on the month (but is still up 63 percent from a year ago). While new construction inventory is still way up from last year (376 available units), that number is down six percent from June as well. Insignia is single-handedly keeping the numbers where they are with 228 available units. Luma also has 145 units while the Four Seasons Residences has just three available units. Right now, there's only 1.4 months of downtown Seattle condo inventory available, which is considered extremely low supply. Same old, same old.
· The Mark Company Trend Sheet [TMC]