Posts tagged Dean Jones
Downtown Seattle condominium resales swell to a median price of $700,000 during the first half of 2018 despite inventory spikes – why?

The first half of 2018 was met with expected increases in resale condominium listings, and this year the choices were far greater than in the previous two years.

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KODA UPDATE: Sales Center, Presale and Ground Breaking Schedule Announced; New Renderings and Future Cityscape Tours Released

Representatives of DA LI Development USA recently released a collection of new renderings following the design confirmation of the interior specifications and common areas while the construction entitlements continue to process with the City of Seattle. Meanwhile, the KODA Discovery Center has been secured and is under development at 510 Occidental Avenue South in Pioneer Square, just north of Century Link Field. 

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As home-buying trends shift nationwide, Seattle forges ahead

For May 2018, the S&P CoreLogic Case Shiller Index registered a 21st month with Seattle leading nationwide home prices. While competing Pacific Coast gateway cities Los Angeles and San Francisco saw year-over-year home price increases of 7.64 percent and 10.87 percent, respectively, Seattle’s 12-month advance widened to 13.59 percent. The monthly increases on the Index were 2.23 percent for Seattle, 1.08 percent for San Francisco, and 0.48 percent for Los Angeles.

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Koda Featured in Downtown Seattle Association's 2018 Condominium Showcase

On June 21st, 2018 more than 900 stakeholders, influencers and city shapers attended the 2018 Downtown Seattle Association’s Annual Meeting, which was held in the Doppler Conference Center at Amazon.

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The Seattle Pivot

The second half of 2017 evidences what may be a paradigm shift in consumer trending from rent to buy. According to research by O’Connor Consulting Group, annual apartment demand in 2017 fell by 4,500 units (unexpectedly) throughout King and Snohomish counties and this decrease was concentrated into the second half of the year.

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KODA Prominently Featured During Asian Real Estate Association of America Global + Luxury Conference in Seattle April 6-9

Drawing upon more than 17,000 members across North America, the Asian Real Estate Association (AREAA) hosted its annual Global + Luxury Summit (GLS) in Seattle for the first time with events around the city from April 6-9. The GLS has traditionally been held in global gateway markets like New York City, Miami and Honolulu, but Seattle’s rise as an international hotspot secured its position as a host city.

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First Quarter 2018 Resale Volumes of Downtown Seattle Condominiums Shrinks While Median Home Prices Skyrocket to $700,000; Brokers Cite a Mounting Affordability Crisis

Downtown Seattle witnessed fewer condominium resales during the first quarter of 2018 compared with that of the first quarter of 2017, largely because there were fewer homes to choose from. And the lack of available supply is raising further concerns about an affordability crisis. Currently, there are only 44 resale homes available for sale in an urban center of more than 80,000 residents but there are more priced above $1 million than there are at lower price points. Meanwhile, median home prices in Seattle are rising at 19-percent per year, according to analysis of first quarter 2018 data compared to the prior year.

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Asia Services Group Attends Lunar New Year Celebration at Zadart Exotic Car Club in Bellevue

On Sunday, February 18th, members of Realogics Sotheby’s International Realty’s (RSIR) Asia Services Group and their guests attended a Lunar New Year Celebration at Zadart Exotic Car Club in Bellevue. The 8,000 square foot showroom played host to over 150 affluent Chinese-American guests and clients, including a number of event sponsors alongside RSIR – the region’s global leader in local real estate.

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Hong Kong Business Association of Washington Celebrates Lunar New Year with Annual Gala

On February 24th a collective of Realogics Sotheby’s International Realty executives and Asia Services Group members attended the 11th annual Lunar New Year Gala & Auction, hosted by the Hong Kong Business Association of Washington (HKBAW). The event supports a different local non-profit organization each year, and the 2018 selection was ArtsFund, an organization dedicated to supporting art sectors throughout King and Pierce Counties with a strong background of advocacy on local and national levels.

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KODA Reservation Event Draws Media Attention

Following the announcement that 95-percent of the 203-units at KODA Condominiums had been reserved during the project’s debut February 24th and 25th, local media reported on current market conditions and the frenzy that new projects are drawing in an inventory-strained market.

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Da Li Development USA & Realogics Sotheby's International Realty Report KODA Condominium Reservation Event Drew Deposits on 95-Percent of 203 Units

Da Li Development USA, a Taiwan–based real estate development company and Realogics Sotheby’s International Realty (RSIR) report first position unit reservations and deposits were received on 95-percent of the 203 homes at KODA Condominiums – a new 17-story condominium that will be built at 450 South Main Street. The project debuted on Saturday, February 24th at 11am at RSIR’s New Developments Preview Center located at 2715 1st Avenue in downtown Seattle.

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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 JournalWall Street JournalMadison Park TimesCapitol Hill TimesQueen Anne & Magnolia Times, Magnolia News, City Living Seattle, The Monroe Monitor, Valley News, Eatonville Dispatch and Marketplace.

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As Featured in Seattle Magazine: The Condo Conundrum

Seattle is the fastest-growing large city in the US with home prices rising more than any other metro area in the nation. That means developers are building new condominiums at a record clip, right?  Nope, it’s actually the opposite. There is currently a real shortage of in-city condominiums, resulting in high median home prices, rising by 19-percent year-over-year in November 2017 to $660,000 – about the same value as the median home price in King County. And 94-percent of the projected 27,000 new housing units to be built in downtown Seattle this decade will be for rent and not for sale, leaving many to scratch their heads. This topic was recently explored by The Seattle Times and King 5 TV News as prospective buyers have literally camped out overnight to book their opportunity to own. So, what gives? Here are ten reasons why consumers consider condos, but most developers don’t.

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Downtown Seattle Condos: Rising Demand and Anemic Supply Has Buyers Considering Presales Opportunities

The lack of available condominiums in downtown Seattle continues, especially at affordable price points. Currently, there are just 7 resale homes listed for sale on the NWMLS priced below $700,000, which is now the new median home price for resales after increasing a staggering 19% in November 2017 compared to the prior year. Though market conditions may seem daunting to potential buyers, market pundits say unit reservations and presales can offer much needed relief for those willing to plan ahead.

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On Top Nationwide for 13 Months, Seattle-Area Monthly Home Price Growth Takes a Holiday

Upon last month’s release of the CoreLogic Case Shiller Home Price Indices for August 2017, Realogics Sotheby’s International Realty predicted“Should the trend since April continue on the back side of the peak home-buying season, it is possible that Seattle’s monthly home price trend could actually turn negative.” This in fact is exactly what happened, with the Seattle index slipping by 0.28 percent monthly in September.

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Report Lists Seattle as #1 City for Chinese Homebuyers

Ni Hao, Seattle! We’re number one in the eyes of mainland Chinese homebuyers exploring overseas investment in real estate. That’s according to Juwai.com, a popular home search site within China, and this finding is tracking with other data points according to local brokers that specialize in international homebuyers.

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FutureCast Forum's After Hours Event Furthers a Discussion About Seattle in 2020 and Beyond

Scores of guests assembled at MG2 Architecture in downtown Seattle during an evening reception on September 28th about the future of the Seattle and Bellevue metro area in the next decade. The town hall-like event was a continuation of provocative conversations started during the BISNOW “State of the Market” event hosted earlier in the week, which was attended by more than 400 industry stakeholders and local media.

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Realogics and BISNOW Announce FutureCast Forum Panel

On August 24, Realogics, Inc, in partnership with Bisnow, announced the FutureCast Forum and their headlining panel participation at the annual “State of the Market” event in September. The panel and its participants were revealed during the morning networking event held at the Four Seasons to a crowd of approximately 200 real estate professionals.

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Think This is Another Housing Bubble? Guess Again

In an provocative article published by the Seattle PI on August 15th, the question of soaring rents and skyrocketing home prices has caused 71-percent of homeowners in Washington to worry about a housing bubble, according to a recent survey by ValueInsured.

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Daily Journal of Commerce Reports RSIR will Market KODA Condominiums

In a feature written on July 27th, Daily Journal of Commerce announces that Realogics Sotheby's International Realty will market the forthcoming KODA condominium project. As the article outlines, KODA is planned at 450 South Main Street in the International District, and "the latest plan is for an 18-story project with 200-plus units and 77 underground parking spaces."

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