Is the Downtown Seattle Condo Market a Buyer’s Market?

Every real estate and market update in Seattle screams, “seller’s market, inventory low, multiple offers,” which is true for the single-family real estate market, but the downtown Seattle condo market is not experiencing the same inventory crunch. For buyers looking for simplified, convenient, downtown living with all the amenities, the Seattle condo market has options available.

Perhaps you're looking to relocate for a job, considering a lifestyle change, downsizing, or craving a minimalistic and convenient way of living—a downtown Seattle condo could be your answer. The downtown Seattle condo market is perfect for buyers looking to streamline their lifestyle while also enjoying all the amenities and experiences the city has to offer.

Sweet Living Real Estate is here to help you navigate the local condo real estate market to find the property that will fit your lifestyle and budget needs. Let’s dive in and learn more about condo living.

Less is More

The past few years have given us a new perspective on the stuff in our homes. Marie Kondo taught us that in order to create an environment that makes us happy, we should keep only items that spark joy. Condo living can do just that. Downsizing your space allows you to have fewer things and less clutter and less cleaning. Streamlining your home opens the door for more time to enjoy your space with friends and family. Plus, less upkeep in a condo means you'll no longer be spending your free time mowing the lawn or pulling weeds.

City Living Convenience

Downtown Seattle living is all about sparkling city lights, mountain views, dining, retail, and great walkability—it’s everything Washington state has to offer plus a sense of community. Olive 8 in downtown Seattle is one of Sweet Living’s featured condo developments, and it is the ideal location for accessibility.

The Retail Core Neighborhood of Seattle extends from Pioneer Square north to South Lake Union with great walkability, shopping, and restaurants, as well as easy access to I-5, the light rail, and the SLU streetcar.

And talking about convenience, everything you need is either onsite or a short walk away. Building amenities include:

·      24-hour concierge

·      Secured parking

·      Pool and spa

·      Gym and yoga studio

·      Rooftop deck and pet relief area

·      Lounge and media room

It’s the perfect place to call home with simplified living, community, first-class amenities, and convenience. To view active all listings at Olive 8, click here now.

Seize the Opportunity

There are plenty of opportunities in the downtown Seattle condo market.  Insignia is another Sweet Living featured condo project, with several homeownership opportunities that offer a luxurious urban lifestyle. This property is a twin tower in the heart of the Denny Triangle with stunning views of the Puget Sound, Seattle city skyline, Space Needle, South Lake Union, and the Olympic Mountains.

The Insignia offers top amenities, walkability, convenience, and spacious, modern floorplans to fit the needs of your lifestyle and family. Click here to view all active listings at this property.

Amenities include: 

·       Secure entry with monitoring

·       24-hour concierge

·       Community room, business center, theater room, and residents lounge

·       Electric charging stations and car wash

·       Sauna, lap pool, and steam room

·       Game room, rooftop sky retreat, and pet relief area

·       World-class fitness amenities, including yoga and Pilates studios

Strong Housing Market

As Seattle is heading into the colder months, the market remains strong. According to WalletHub, Seattle is the second-fastest-growing city in the US. Maybe it's the gorgeous landscapes, city atmospheres, walkability, or the coffee? Or perhaps it's the robust job market and tech industry driving people here in droves.

Early October numbers show that it was one of the highest-selling months in more than two years. In September, the NWMLS recorded its highest monthly sales volume since June 2018. September had 687 condo sales in King County, while the previous year was 532. And last month's pending sales were up 36% from last year.

So, while King County has less than a month of single-family inventory, the downtown Seattle condo market has roughly eight months of inventory and plenty of opportunities for buyers to take advantage of—it’s actually a buyer’s market for condos in downtown Seattle.

If you’re ready to explore the local market and condo living, the Sweet Living Realty team is here and ready to assist you. Start scoping out the downtown Seattle condo market by clicking here, and if you have any questions about a specific property or you’re ready to start looking for the perfect condo for you, contact us at 206-353-7625. We’re happy to talk at any time.