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Downtown Seattle Condo Prices Up 13 Percent From Last Year

Downtown Seattle condominium prices increased in August by 5 percent to $794 per square foot according to the Condominium Pricing Index by The Mark Company. That puts prices 13 percent higher than they were in August 2014. New construction inventory now stands at 331 units, the majority of which are at Insignia, with 186 units and Luma with 141 units currently available. Average resale condominium prices decreased by 3 percent last month to $613 per square foot, but remain 7 percent higher than the same month one year ago. There has been a total of 28 resales in August and there are 64 active resale condominium listings around Downtown, representing 2.3 months of inventory (six months is considered equilibrium).
· The Mark Company Trend Sheet [TMC]