New Construction Projects Report Increase in Activity
Gallery recently sold the last of their penthouses. They also told us that there has been a significant increase of interest over the last couple of weeks from people coming into their sales center. The sales representative at Trio also had an excited tone over the phone when telling me they’ve averaged more than a sale a week since April with an expected offer today. Olive 8 sold 2 of their larger units in the last week, and the Parc has sold 10 units in the last 16 days. The sales manager for the Discovery Center (ENSO, Veer Lofts, and Rollin Street) and Four Seasons was unavailable for comment.
The last few weeks of sales ratios also show in increase in sales activity for resale condos. We’re excited to see some of those buyers who were sitting on the fence to finally start making some movement. Recent data showing the future of Seattle’s urban housing shortage due to rising construction costs and developers credit crunch may be the motivator.