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.
(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.