Posted by: phillipsre | May 23, 2012

Seattle Condos are Filling Up!

I love good news! And I have been seeing more of it in the news lately. This article is especially positive for those condo owners and developers. Folks in the condo market have seen the industry and inventory go up and down, with more inventory than buyers, pre-sale buyers backing out and condos converted to rentals. It looks like in the last few months, the market may be bouncing back. Agents are seeing their condos actually SELLING and for almost 99% of the asking price – and anyone that has bought or sold real estate knows that is a not an easy task to achieve. Another reason for this success or change in the market, may be that developers have stopped or slowed the building (for a little while at least) in areas like Belltown, Queen Anne and South Lake Union. There are obviously always going to be new buildings coming up, but while it slows for a little bit it looks like buyers are able to get some good deals on the property that has been on the market for awhile.

“The bottom line is, there’s not much new inventory on the horizon. Andthat’s helping to drive the condo market now, analysts agree.” Well said.

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