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Downtown Seattle Condo Sales

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In  August 2016, the sales price per unit on downtown Seattle condos increased an incredible 31% over the previous month. According to the Urban Condo Spaces site, condo units sold, on average, in 17 days, possibly driving the number of buyers making offers sooner, due to the short turnaround. The highest price unit was on the 39th floor of Insignia Towers (see photo) and sold for $2.8 million.

Although the Seattle Times reported that 30-year fixed mortgage rates recently rose 3.46%, mortgage rates still remain at a historically low level. Depending upon the circumstance, this may be good news for buyers as well.

Developers base their projects on demand, comparing what’s charged per square foot to costs and timing needed for construction. Since the average sale price per unit in July rose from $755,828 to $993,320 in August, the condo building boon will most likely continue for some time into the future.

insignia_630

2000 1st Ave.

The new owners of this Belltown condo will have the pleasure of watching ferries come and go on the waterfront, the Great Wheel spinning, and of course every spectacular sunset over the Puget Sound and Olympic Mountains. Sold for $1,100,000, this condo is in a prime downtown location and was remodeled to take advantage of the stunning 180-degree views.

This two-bedroom, two-bath unit features hardwood floors throughout; a sharp kitchen with granite-slab counter tops, stainless steel appliances and custom cabinets; a luxurious master suite with a walk-in closet and a view even from the bathtub; and resort-style amenities. A covered view terrace is the icing on the cake.

If you are interested in purchasing a condo in the Belltown area, contact your local real estate agent today!