Zooming In: 2 Bedroom Condos on Capitol Hill

Y’all know I love data and statistics, especially when it comes to real estate.  Right now I have a buyer that is interested in a very specific area, and in doing some research for him, it seemed only fair to share.

Let me tell you the story of Client A (name changed to protect his privacy).  He currently rents an apartment in Capitol Hill.  He loves it there.  Most of his friends live there.  It’s an easy commute to work and there is nowhere else in Seattle he would rather live.  He’s smart, has a great job, and is ready to buy his first place.  Client A is what I like to call a Unicorn Buyer.  The Unicorn Buyer knows EXACTLY what they want.  They have a very specific set of criteria, and are well aware that what they want doesn’t come around often, and they have no problem waiting for the rare home that meets their wish list to come on the market.  I love Unicorn Buyers!  They know what they want and are willing to wait until the right place is available.  The Unicorn Buyer is as rare as the property they are looking for and they are a lot of fun to work with.

Okay, I will quit gushing about my love of Unicorns and get to the data.

What this Unicorn Wants:
  • a condo on Capitol Hill.  From Melrose to Broadway, between Pike and Mercer.
  • 2 bedrooms and 2 bathrooms
  • at least 1,000 square feet.
What the data shows:
  • 12 condos have sold this year that match that criteria
  • The average sold price is $476,853
  • The average size is 1,073 square feet
  • The average price per square foot is $444.41
  • These condos are on the market for an average of 9 days
  • These condos sell for an average of 103.57% of list price
Zooming out “just a little’:

In looking at ALL 2 bedroom condos sold this year in that area

  • 16 total sales this year
  • Average sales price of $464,527
  • Average size is 1,025 square feet
  • Average price per square foot is $453.20
  • Average time on market is 11 days
  • These condos sell for an average of 102.6% of list price

Curious what these condos looked like?  All the details and photos here.

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