With so much construction activity in the South Lake Union, Denny Triangle, and the Downtown condo core, we wanted to highlight the sales in some of the buildings with the higher amounts of new listing and sold activity in the past few months. This month we’ll recap the Cosmopolitan in Downtown.
- 9 condos sold in the last 180 days
- Average sold price: $471,500
- Average square footage: 948
- Average price/square foot: $494
- Average days on market: 17
Sold 1 bedroom breakdown
- 5 one bedrooms were sold in the last 180 days
- Average sold price: $423,400
- Average square footage: 859
- Average price/square foot: $492
- Average days on market: 9
Sold 2 bedroom breakdown
- 3 two bedrooms were sold in the last 180 days
- Average sold price: $643,333
- Average square footage: 1,273
- Average price/square foot: $505
- Average days on market: 14
1 bds vs. 2 bds
Often we hear our buyer clients saying initially that they need a two bedroom condo. But if that 2nd bedroom is really going to only be used as an office, you should make sure the extra chunk of change you’ll spend for a two bedroom is worth it for the occasional guest or an office space. One bedrooms with either a den or large living area might work for that office space.
Summary
- 1 bedroom condos are selling slightly faster than the 2 bedroom units, likely due to more people being able to afford them in the lower price bracket
- Surprisingly, in the Cosmo right now, we are seeing the 2 bedroom condos selling for a higher $/SF than one bedrooms. It’s typically the other way around with smaller units having a higher $/SF in most of our in-city condo buildings.
- Whether looking for a one or two bedroom, or considering selling a unit at the Cosmo, the building seems to be in demand as evidenced by the average days on market for both falling at only 17 days on the market.
By Marco Kronen with Seattle Condo Review: A guide to Seattle downtown condos.
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