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New & Old Seattle Condo Prices Rose Two Percent in April

Per The Mark Company's April report, Seattle condo prices are rising and inventory is dropping

The Mark Company Trend Sheet for April is out and it looks like Downtown Seattle-area condo prices are back on the rise. After dipping in February and leveling out flat in March, new construction condo prices rose two percent this month and are up two percent from last April, checking in at $801 per square foot.

On the flip side, new construction sales and inventory numbers both took a nosedive. The 25 units sold in April is down 42 percent from the previous month and a whopping 60 percent from last April. Meanwhile, the 239 new condos available is down nine percent from March and 54 percent from April 2015. We simply can't build new condos fast enough.

Four Seasons Residences sits tight with one available unit while Insignia and Luma continue moving in the right direction in terms of sales and pre-sales. Gridiron Condos seemingly took a step back in terms of pre-sales last month.

Meanwhile in the Seattle condo resale market, things are moving in much the same direction as new units. Sales are up two percent from March and 15 percent from the previous year with an average price of $652/square feet. The numbers of sales shot up 25 percent from the previous month as well.
· The Mark Company Trend Sheet [TMC]
· New Seattle Condo Prices Remained Flat in March, Inventory Dropping [CS]