If you’re like many homebuyers sitting on the fence and wondering what is going to happen to the downtown condo market, here’s an interesting article from the Seattle Post Intellingencer.
Some interesting data:
- 83 percent of the more than 1,200 new downtown condo units that came on line in 2007 have been sold.
- All of the more than 1,400 downtown units built from 2000 through 2006 have sold, according to market research firm Realogics.
- Half of the approximately 1,600 condos Gardner expected to hit the market in 2010 still are looking for financing.
- The state Office of Financial Management estimates the population of downtown Seattle — the commercial core, South Lake Union, Belltown, the Denny Triangle and Pioneer Square — grew by 31 percent from 2000 through April 1, 2006.
Thanks for keeping people up to date on condos. The graphs and stats are great.
The 30% population increase is incredible. You can definitely feel a lot more energy and see more successful retail establishments just walking around Belltown. The Local Vine and Black Bottle are printing money with all their condo owning customers.
seems like seattle continues to decline into a city of blah as the old seattle is replaced by transplants creating the un-seattle of the future. so sad to see our city being run amok by developers and realtors. shame on our city council.