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Condo in University District

How about condo selling situation now and past few years, as well as prediction for next, say, couple years? If I wanna sale my condo, 2bed, in 2015 or 2014.
What is the demand of condo in U-District? I mean sale, not rent this year.
  • October 29 2013 - University District
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Answers (4)

The last year has been a fantastic time to sell a condo - assuming that the building is in good shape, the HOA is solid and there aren't any pending lawsuits or special assessments.  2009-2011 hit condos hard and there were a ton of challenges selling them, financing and finding buyers were just the tip of the iceberg.  We have hit a thaw and things are rather nice right now for condo owners.

At this moment, Inventory is massively low and lenders are willing to lend money, so it is a fabulous time to sell.  Our last condo sale had 4 offers in the first 5 days and sold for significantly more than we had it listed.

The one drawback in the condo market, and this will be a problem for the foreseeable future, is that FHA is asking HOAs to basically give away their first born to be an FHA approved development.  That means that for many people with low down payments, condos may not be an option until FHA changes their stance.  This lowers the pool of first time homeowners a bit, so depending on your price point this could have an impact.

My crystal ball (fuzzy as it is) says that in the next year, as long as rates stay low and there is nothing horribly funky, we will stay in a seller's market. Fairly comparable to the market that we have now.

As soon as rates come up, a lot of buyers will be priced out of their desired markets, so things will calm down a bit.  Assuming we stay in the 5-6% range on rates, our market will stabilize and homes will stay on the market longer with appreciation slowing.

If you would like more specific information, feel free to contact me or another local Realtor and we can give you information on your actual development and unit.


  • November 01 2013
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Go to the Local Info tab at the top of this page.  Search for University District, Seattle. Once the graph loads go to the list below it and un-check the default comparison neighborhoods and check Roosevelt, Ravenna, Bryant & View ridge.  Sandpoint doesn't have individual data. all of these neighborhoods service the University student body.

Look at the general trend of those graphs. If you want to see a neighborhood that isn't affected by the University, look at Lake City.

I helped one student and one investor buy condos in this specific neighborhood this year. I've serviced this neighborhood for over 10 years and believe that it is undervalued. You have to be very careful though becasue of the age of the buildings and many of them are having siding repairs done. This neighborhood is getting to the end of the REO and short sale inventory.

This neighborhood will always service the University and will therefore generally maintain it's value relative to other neighborhoods. there will always be students wanting to buy there.

Again, be very careful of the repair work on the buildings.
  • October 30 2013
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The 1990s condo is located beside Burke Gilman trail, about half a mile north from UW. Some of the residents are students while others are white collars. Do you expect increase in price for such condo in U district next couple years?
  • October 30 2013
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It's very hard to predict where the value is going to be in 2 months, let alone 2 years.  Is the building newer or older?  Is it primarily occupied by student renters or young professionals?  Is there anything nearby that will change the value negatively or positively within the next couple of years?

Right now, inventory is low and it's a strong seller's market out there.  If interest rates rise after the first of the year, that could change dramatically.
  • October 29 2013
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