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SeattlebyDesign | Condos & Lofts, Houseboats, Waterfront, & Residential Real EstateSeattlebyDesign | Condos & Lofts, Houseboats, Waterfront, & Residential Real Estate

(206) 790-7874

Realogics SIR Annual Sales Production Exceeds $1 Billion

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Realogics Sotheby’s International Realty announced a pivotal sales milestone of surpassing $1 billion in residential sales volume over a trailing 12 month period as of October 2016, according to Trendgraphix research.  Since commencing operations with the Sotheby’s International Realty network in February 2010, the new Seattle-based brokerage firm has quickly expanded to five regional offices including Downtown Seattle, Bainbridge Island, Kirkland, Issaquah and Madison Park, with more than 200 brokers and employees that proudly serve all property types and price points.
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Posted in: Realogics Sotheby's International Realty Tagged: Bainbridge Island, Downtown Seattle, Issaquah, Kirkland, Madison Park, realogics sotheby's international realty, seattlebydesign, Trendgraphix

Market Watch Q3 2016 – Downtown Seattle Condominiums

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The in-city housing market in our Emerald City has a split personality. Buy or rent, the message is the same – it’s going to cost more and more to live here. This fact is reigniting the debate between renting and homeownership and developers are listening.

Downtown Seattle is a very robust rental market, which has welcomed more than 12,500 new construction units since 2011. Despite this massive increase in supply, economist Brian O’Connor says rents have still grown by more than 40-percent over this term due to an imbalance with supply and demand. According to Zumper, Seattle is now in the top ten most expensive rental markets in the nation with a median price of $1,800 per month (half are more, half are less) for one-bedroom apartments. Average rents of newer apartment towers downtown can demand $3.50 to $4.25 per square foot, per month. So a 600 sq. ft. one bedroom could easily cost a renter $2,100 to more than $2,500 per month. That kind of monthly payment could service a healthy mortgage. Recently, Zillow stated that 22-percent of Seattle’s renters can afford to buy. They have the incomes and credit scores to own, so why don’t they?
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Posted in: Condos, Downtown, Market Update Tagged: Condominiums, Downtown Seattle, Homeownership, market, Market Watch, Rent vs. Buy, Rental Market

Featured in Seattle Magazine!

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Exciting news! We are featured as new construction and resale experts in the latest edition of Seattle Magazine! In downtown Seattle, condominium market values swelled by 28 percent in the first half of 2016 compared with the same time last year. Given that there were virtually no new construction deliveries in 2015, a look at only resales from these periods offers the most accurate outlook, revealing what is still a 22 percent increase in values despite a decrease in total resale closings. The state of the in-city housing market is evidenced by the strong consumer response to new construction projects.
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Posted in: Featured Property Tagged: Advertising, Barry Bergner, Downtown Seattle, Enrico Pozzo, New Construction, realogics sotheby's international realty, Resale, Seattle Mag, Seattle Magazine, seattlebydesign

What a Difference A Year Makes: Downtown Seattle Condominium Market Values Swell 28% in 2016

Seattle downtown skyline and Mt. Rainier at sunset. WA from Kerry park.

Eager homebuyers rallied during the first half of 2016 increasing unit absorption and median home prices by 48% and 28%, respectively according to analysis of Northwest Multiple Listing Service data released as of June 30th. The typical condominium is selling in just over a month with a median home value of $575,000. However, a closer look reveals that 135 of the 381 condominium closings so far this year were in the INSIGNIA condominium tower, a new construction development (and one remaining developer-owned unit in the Four Seasons Private Residences) whereas there were effectively no new construction deliveries or closings during the same term in 2015. When removing this spike of higher-priced, new inventory in the overall resale market still expanded by 22% year-over-year but total resale closings actually decreased 5% with 246 homes in 2016 (including a few resales at INSIGNIA) against closings of 258 units in the first half of 2015.
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Posted in: Market Update Tagged: 425 Business Magazine, Downtown Seattle, Insignia, NEXUS, NEXUS Seattle, NWMLS, PSBJ, realogics sotheby's international realty, seattle, Seattle Magazine, seattlebydesign, The Puget Sound Business Journal

First Glimpse | NEXUS Lobby and Restaurant Space

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Weber + Thompson released some preliminary renderings of the lobby and plans for the ground level of NEXUS to include a boutique, 400 sq. ft. specialty coffee shop that’s open to the lobby, and a destination 2,800 sq. ft. restaurant and bar.

The building will be accessed across a water feature along a catwalk with frameless glass on either side, creating a portal experience that separates the resort style lobby from the street.
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Posted in: Buildings, Downtown Tagged: Condo, Condominiums, Condos, Downtown Seattle, Luxury Real Estate, NEXUS, NEXUS Seattle, seattle

The PSBJ Reports on NEXUS: “A New Center of Gravity in Downtown Seattle”

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An article published today by the Puget Sound Business Journal says “a new neighborhood is emerging in the northeast section of downtown Seattle, and by 2020 it will be a new residential core featuring cutting-edge apartment and condominium buildings, a variety of restaurants and retail, as well as places to meet and work. In the heart of this so-called ‘East Village’ neighborhood will stand NEXUS, the first condominium tower to open in the neighborhood, offering buyers the opportunity to own their share of downtown Seattle’s future and a slice of the ever-expanding skyline.”
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Posted in: Condos, Downtown Tagged: BizJournals, Downtown Seattle, New Construction, NEXUS, NEXUS Seattle, PSBJ, Puget Sound Business Journal

New Listing! Greenlake Townhome

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Smartly designed 3-level townhome conveniently located to Downtown, Green Lake and the University of Washington. Dynamic floor plan with plenty of space and a layout that provides a roomy feeling. Spacious kitchen with granite counters and eating bar complements upgraded floors and custom built-in cabinets. Natural light pervades the entire home creating a lively energetic ambiance. The fully-fenced backyard complete with dog run is perfect for a summer barbecue. Don’t forget the full-size laundry room. Why wait?
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Posted in: Featured Property Tagged: Barry Bergner, Downtown Seattle, Enrico Pozzo, Green Lake, Luxury Real Estate, New Listing, seattle, seattlebydesign, University of Washington

Realogics SIR Partners with The Burrard Group on Next Generation Condominium Tower, NEXUS Seattle

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The Burrard Group, a Vancouver, BC–based real estate development firm provided a first glimpse of downtown Seattle’s next generation condominium tower called NEXUS, and plans to offer unit reservations in May 2016, presales in Fall and break ground by late 2016 for first occupancy in 2019. The developer has appointed key members of the development and marketing team and confirms that all units will be offered for sale, citing a point of inflection in the buy vs. rent debate amongst urban dwellers in one of North America’s fastest-growing cities.
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Posted in: Condos, Downtown, Seattle Tagged: Downtown Seattle, Luxury Real Estate, New Construction, NEXUS, NEXUS Seattle, realogics sotheby's international realty, seattle, The Burrard Group

The Daily Journal of Commerce Turns to Realogics Sotheby’s International Realty for Insight on Downtown Seattle Condos

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Dean Jones, President & CEO of Realogics Sotheby’s International Realty offers insight in the latest Real Estate Buzz entitled “Condo demand rising faster than supply,” as the Daily Journal of Commerce says that the rate of demand for condos in downtown Seattle is much higher than available supply.
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Posted in: Condos, General Real Estate Information, Realogics Sotheby's International Realty, Seattle Tagged: Condos, Daily Journal of Commerce, dean jones, DJC, Downtown Seattle, Insignia, LUMA, Market Trends, realogics sotheby's international realty, VIK

Market Spotlight: Belltown & Downtown Seattle

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Belltown is named for William Nathaniel Bell, one of the original settlers whose heavily forested land became downtown Seattle. The Belltown/Downtown area is where many Seattle landmarks like Pike Place Market and Smith Tower are found. Fortune 500 companies Nordstrom and Expeditors International are headquartered here. Among the many ongoing projects downtown, work began in June 2015 to lay the foundation for Weyerhaeuser’s new headquarters in Pioneer Square, to be opened in 2016; and the Pioneer Building on First Avenue has been purchased for redevelopment as co-working space and suites for small businesses and entrepreneurs. The pioneers’ clapboard houses are long gone and virtually all recorded sales are now of mid-rise and high-rise condominiums in this vibrant, 21st century city.
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Posted in: Belltown, Downtown, Market Update, Seattle Tagged: Belltown, Downtown, Downtown Seattle, Luxury Real Estate, Market Report, Pioneer Square, Real Estate, realogics sotheby's international realty, seattle, seattlebydesign, William Nathaniel Bell

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