Seattle downtown, South Lake Union area view from Virginia Street.
We’ve already seen that the top three single-family homes — selling from over $20 million to over $30 million — were all either on the water or looking out over an unobstructed view thereof. Now we see the love affair continuing in the top three condo sales for this year.
Before we look at these homes, it’s important to note that condos overall enjoyed a resurgence in popularity. As the pandemic raged in 2020, condos (especially those in Seattle’s downtown) fell out of favor as people sought homes outside of the city that allowed them more space to work, play, and live during lockdown.
As of December 2021, “The Seattle condo market continues to remain healthy with an increase of 20.6% in transactions, which has already surpassed 2020, with a steady median sale price,” said Data Analyst Parker Hemingway of Compass Realty. “As offices continue to reopen, amenities are becoming readily accessible again, and new inventory is continually coming to market. Individuals are continuing to see value in being close to the city, driving a rebound in 2021 from the early phases of the pandemic.”
But though condos in general are back in fashion, the desire for a sense of open space hasn’t entirely gone away — and looking out over an endless expanse of water can certainly help achieve that desire.
Each of the top three condo sales this year are waterfront properties with gorgeous views off their multiple decks. Interestingly, the top two sales are in the same building, a downtown Seattle luxury tower on 4th Avenue. The third highest sale juxtaposes nicely with these two, located as it is on the Kirkland waterfront in a much less ostentatious building.
What do we learn overall from these condo sales? That 2021 is the year of the waterfront property in Seattle.
It’s not only fancy downtown towers that lured luxury waterfront condo buyers in 2021. The third highest condo sale this year was in Kirkland, at 925 Lake Street South, Unit 302. This condo sold for $6.5M.
On the Kirkland waterfront, 925 Lake Street South, Unit 302, is 4,419 square feet.
925 Lake Street South, Unit 302, offers 3 beds and 3 baths and plenty of deck and window access to the endless views.
In second place is 1920 4th Avenue, Unit 3002, which sold for $6.625M.
1920 4th Avenue, Unit 3002, offers many decks for taking in the multi-million dollar view.
Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.