As some of you may know, real estate in Belltown is booming! But do you know by how much? With all the new buildings going up in the neighborhood one can just assume how many people are attracted to the hip and trendy area. There are currently 93 pending listings, 45 of them being in the Insignia building. According to the NWMLS, last June (2015) there were 35 sold listings. This June there were a total of 164 sold listings, 102 of them being, once again, the Insignia Building. The cumulative days on the market dropped from forty days to fourteen.
Surprisingly, it seems prices aren’t jumping as much as you would think. The highest price for a home has dropped from $1,615,000 to $1,272,000, the lowest going from $219,000 to $210,000. But on the other hand, the median sales price is up from $557,800 to $414,950. According to the Development and Construction Projects on www.downtownseattle.com, there are currently more than 18,00 residential units in pre-development downtown. Looks like there will be a lot of inventory for next June!