I was curious how much of a hit the >$1M condo market in Belltown and Downtown (98121 & 98101) have taken since the peak in 2008.  Below are some charts and some observations.

  • The average price per square foot on >$1M condos has fallen below 2007 levels (10% below 2010).  
  • The average price sold so far this year is still above 2007 levels (buyers are getting a lot more for their >$1M money).
  • Total sales of >$1M condos in 2011 will likely be lower than 2007 and less than half the 2009 peak.
  • The most expensive condo sold was in 2008 at Four Seasons (#1703) and it sold for $11,386,525.

                      Avg.Price Per Square Foot Sold (Greater than $1M)

                      Average Price Sold

                      Condo Sales

                      Avg. Home Size Closed

                   (Information from Northwest Multiple Listing Service and Realist and are deemed reliable but not guaranteed)

 

By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.