Downtown Seattle Washington Real Estate
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Downtown Seattle Washington Real Estate - Condos
Yes, Downtown is an official neighborhood of Seattle and Downtown Seattle Washington real estate is booming. Developers are adding over 5000 new condos throughout Seattle and Downtown is getting its fair share.
Why would anyone want to live in Downtown Seattle? Just like in Belltown and a few other areas of Seattle, there are heavenly views. In any direction you are enjoying views of the Olympic Mountains, Elliott Bay, Mount Rainier, or the Cascade Mountains.
On top of the views you have everything you could possibly need. You have the Mariners and Seahawks a mile and a half down First Avenue. You have the ballet a few blocks east. The Paramount and the Showbox are always bringing in top name bands and other entertainment. Let’s not forget the restaurants. Wow!
Downtown Seattle (as of 3.15.07) has 397 condos available. The average year these condos were built is 1987. These condos in Downtown Seattle are, on average, 841 square feet in size.
The average length of ownership of a condo in Downtown Seattle is 7.7 years. Basically, when people buy a condo in Downtown Seattle, they stay put. So far in Downtown Seattle, 171 condos have been owed for five years or less. Eighty of the condos have been owned between five and ten years. The number of condos that have been owned for ten years or more is 140.
Downtown Seattle condos are mainly owner occupied. There are 244 owner occupied condos in Seattle versus 153 non-owner occupied.
In 2007 (as of 3/15/07) there have been seven Seattle condos sold. This equates to two percent of the condos available. Of these seven condo sales, the average sales price was $510,350. The lowest sales price was $240,000 and the highest sales price was $970,000.
In 2006, there were 26 total condos sold in Downtown Seattle. This was a 7% turnover rate. The average sales price was $436,508 with the lowest sale price being $240,000 and the highest sales price was $720,000. The average sales price per square foot for 2006 was $489.
In 2005, there were 42 condo sales in Downtown Seattle, which totaled an 11% turnover rate. This was the highest condo turnover rate for the past four years. The average sales price for these 42 condos was $380,638 with the lowest price at $236,000 and the highest price at $900,000. Condos sold in Downtown Seattle averaged $431 per square foot.
Over the past twelve months (as of 3.15.07) there have been 14 condos sold in Downtown Seattle that were assessed under $295,000. These condos had an average sales price of $342,333. This was an average sales price of 143% of their assessed value. Condos that were priced between $295,000 and $565,000 sold for 129% of their assessed value.
This neighborhood is a great area to be searching for Seattle Washington real estate.
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