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Eastside Homes Priced Under Half a Million

ByJoe Connector

Sep 30, 2006

Today there are 38 SFR listed for sale in Bellevue for less than $500k (1 for less than $400k).

Bothell has 255, Issaquah 48, Kirkland 65, Mercer Island 0 (suprise, surprise), Newcastle 5, Redmond 42, Sammamish 15, and Woodinville 33.

I look for these numbers to increase steadily over at least the next two years.

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15 years ago

It takes more than a line in the classifieds to sell a penthouse unit in one of Seattle’s luxury condominium buildings. Yet many developers and brokers continue to use a passive “list and wait” marketing strategy.Demand for high-end units is small. There have never been more than three sales of units priced over $1 million in any one year. According to the Puget Sound Multiple Listing Association, there currently are 23 new units for sale in the region priced over $1 million. Eleven are in downtown Seattle, three are in downtown Bellevue, and the rest are in downtown Kirkland.All of the new high-end units in Seattle are in One Pacific Tower at First and Lenora and Seattle Heights at Second and Vine. Bellevue Pacific Tower contains the only penthouse units in downtown Bellevue.One Pacifc Tower is the newest of the downtown high-rises. The 25-story tower is one block from the Pike Place Market in the trendy Belltown neighborhood. Units have sweeping downtown and mountain views to the south and west. Penthouse units are offered on a semi-shell basis with the buyer responsible for buying and installing the wall and floor coverings.
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