Seattle's New Era of Condos
As a recent Realogics Sotheby’s International Realty feature entitled “Seattle’s New Era of Condos” proclaims, the Emerald City is definitively in the midst of a condo comeback; the population is growing, residents are fueling additional in-city attractions, and millennials are transitioning from renting to homeownership. Today, thousands are reading the latest Seattle trends, as the special feature, which was originally included in Portrait of Seattle Magazine, was hand delivered to 1,500 broker mailboxes throughout the Seattle area, and was included in select copies of Puget Sound Business Journal, Wall Street Journal, Madison Park Times, Capitol Hill Times, Queen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.
Not only does the insert highlight a number of exciting upcoming projects including KODA Condominium Flats, it also outlines market fundamentals that are helping grow the city. Wealthy tech-industry millennials and downsizing empty nesters are fueling demand for in-city condominiums, yet they face a severe shortage of availability unless they turn to new construction presales. As outlined in the feature, Seattle is home to approximately 80,000 urban residents, yet as of February 2018, there were only three dozen resale units listed for sale with a median asking price of $1.3 million.
A number of RSIR brokers also lend their insight and explore trends in city living, from added conveniences such as the expanding LINK Light Rail that are making life without a car more and more feasible to the notion that condominium buildings are serving as vertical communities that integrate opportunities for residents to have access to technological innovation, health and entertainment, and professional business spaces.
“The expanding demand for both urban condominiums and resort destinations led our firm to open a New Developments Gallery located at 2715 1st Avenue,” announced Dean Jones, CEO & President of RSIR. “The retail pop-up promises to offer consumers a glimpse into the future so they can be in the know before the show.”
For more on Seattle’s condo comeback, read the full digital copy of the publication below: