After a relatively flat December, Downtown Seattle condo prices went up two percent in January to hit a new peak of $853 per square foot. That beats out the $835 per square foot number set in December. The new numbers come courtesy of the latest Mark Company Condominium Pricing Index.
Like last month, prices are 17 percent higher than January 2015 while new construction inventory was 146 percent higher than one year ago. The number of new condos placed under contract dropped 30 percent over the previous month to 19 units. That's still up 27 percent year-over-year. Not counting new units available at Insignia, Gridiron, and Luma, there's only 46 active resale listings near the downtown area.
· The Mark Company Trend Sheet January 2016 [TMC]
· Seattle Single-Family Home & Condo Prices Keep on Gaining [CS]