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SEPTEMBER 2018
SEATTLE
THEPOLARIS PACIFIC REPORT
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MARKET OVERVIEW / 01CURRENTLY SELLING / 08SOLD OUT / 16ABOUT POLARIS PACIFIC / 62
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MARKET SNAPSHOT SEATTLE / SEPTEMBER 2018
SOURCE: NWMLS, POLARIS PACIFIC. DATA FROM SOURCES MAY BE SUBJECT TO ERRORS, OMISSIONS AND REVISIONS.
PSF FIGURES ARE FOR BUILDINGS BUILT AFTER 2004. THE FIGURES COVER THE SIX-MONTH PERIODS ENDING 8/31/2017 AND 8/31/2018.
$683 $884 $1,018 P/SQ . F T.P/SQ . F T.P/SQ . F T.ANNUAL CHANGE ANNUAL CHANGE ANNUAL CHANGE
MACRO TRENDS
$595K MEDIAN RESALE PRICE
0 NEW CONDOS
1,423 RESALES
7,8122017
MULTI-FAMILYCOMPLETIONS
236 NEW CONDOS
7,576 NEW APTS
2.5MONTHS OF
RESALEINVENTORY
409 NEW CONDOS
1,382 RESALES
+11.7% +14.6% +21.1%
LOW-RISE BUILDING4 STORIES OR LESS
MID-RISE BUILDING5-12 STORIES
HIGH-RISE BUILDING13 STORIES OR MORE
CONDO INVENTORY BY TYPE
CONDO SALES & MEDIAN PRICE BY TYPE
MULTI-FAMILY COMPLETIONS BY BUILDING TYPE
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01
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
The maps below (Figures 1 & 2) show annual percentage changes in median PSF and total sales by district. Almost all districts in Seattle experienced an increase in median PSF and total number of sales. The most notable year-over-year median PSF increase occurred in District 4 (26.8%) and the most notable sales increase occurred in District 8 (+32.3%).
FIG 2. ANNUAL SALES CHANGE MAP
ANNUAL PSF AND SALES CHANGES BY DISTRICT
FIG 1. ANNUAL PSF CHANGE MAP
FIG 3. SALES BY DISTRICT
Figure 3 shows a box-and-whisker plot of sales prices by district during the three-month period ending August 31. As shown below, District 10 (Bellevue) had the highest median price ($725,000), while District 11 (Kirkland) had the lowest ($445,000). District 1 (Downtown) and District 11 (Kirkland) experienced the most sales during this period (137 and 176 sales, respectively).
CURRENT PRICES AND SALES BY DISTRICT
9NE Seattle
+13.6%
8 NW Seattle+14.3%7 Fremont/
Ballard+20.7%
6Queen Anne
+10.1%4
CentralSeattle+26.8%
11Kirkland+25.3%
10Bellevue
+7.0%
2West Seattle
+18.3%
1Downtown
+18.0%
3Capitol Hill
+13.2%
5Lake Union
+9.1%
12Redmond
+10.5%
ANNUAL PSF CHANGE MAPYear-over-year change in median PSF in each district of the city, for May 2018 - Jul 2018:(Source: RealQuest)
-30% No Change-15% +15% +30%
9NE Seattle
+15.4%
8 NW Seattle+32.3%7 Fremont/
Ballard+1.6%
6Queen Anne
-3.8%4
CentralSeattle+5.1%
11Kirkland+5.9%
10Bellevue
+1.3%
2West Seattle
+29.0%
1Downtown
+30.2%
3Capitol Hill
+9.2%
5Lake Union
+32.1%
12Redmond
+11.2%
TOTAL RESALES CHANGE MAPYear-over-year change in total resales in each districtof the city, for May 2018 - Jul 2018:(Source: RealQuest)
-30% No Change-15% +15% +30%
SE District 1 SE District 2 SE District 3 SE District 4 SE District 5 SE District 6 SE District 7 SE District 8 SE District 9 SE District 10 SE District 11 SE District 12$0
$500,000
$1,000,000
$1,500,000
$2,000,000
Sale
Pric
e
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02
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
During the three-month period ending August 31, the median price increased 6.3 percent from the prior year to $595,000 At the same time, the total volume of resales decreased 13.7 percent. The median price has rebounded from 2012 (see Figure 4) and is expected to appreciate further.
HISTORICAL PRICES AND SALES
FIG 4. MEDIAN PRICE AND RESALES
FIG 5. PERCENT OF CASH AND INVESTOR BUYERS
Figure 5 provides a historical trend of all-cash and investor buyers in Seattle since 2008. For the three months ending August 31, all-cash transactions represented 25.9 percent of sales, an increase from 23.0 percent the same time last year; investor buyers represented 17.9 percent of buyers, an increase from 16.4 percent last year.
CASH AND INVESTOR BUYERS
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
0
100
200
300
400
500
600
# o
f Sal
es
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Med
ian
Price
$595,000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
0%
20%
40%
60%
80%
100% Cash Buyer
Investor Buyer
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03
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
The average days on market (DOM) figure is calculated as the amount of time between the date a home is listed for sale and the date it goes into escrow. The 60-day benchmark signifies a balanced market (the dotted line in Figure 6). As shown in Figure 6, the average DOM figure was 13 days in the three-month period ending August 31; it has been below 60 days since 2013.
HISTORICAL AVERAGE MARKET TIME (MONTHLY TREND)
FIG 6. AVERAGE SOLD MARKET TIME (MONTHLY)
FIG 7. AVERAGE SOLD MARKET TIME (ANNUAL)
Figure 7 shows the average DOM figure at the end of each year going back to 2008 (the 2018 figure is year-to-date). Since 2011, the average DOM figure has declined and in 2013 it fell below the 60-day benchmark.
HISTORICAL AVERAGE MARKET TIME (ANNUAL TREND)
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
0
20
40
60
80
Num
ber o
f Day
s
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
0
10
20
30
40
50
60
70
80
Num
ber o
f Day
s
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04
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
The months of remaining inventory figure, or MRI figure, indicates how many months it would take to absorb current supply. Six months is considered a balanced market, while nine months or more is considered an oversupplied market. Figure 8 shows a three-month moving average of the figure going back to July 2014. As shown, the MRI figure has remained below the six-month benchmark since 2012. The most recent figure was 2.5 months.
MONTHS OF REMAINING INVENTORY (MONTHLY TREND)
FIG 8. MONTHS OF REMAINING INVENTORY
FIG 9. AVERAGE MONTHS OF REMAINING INVENTORY
Figure 9 shows the MRI figure at the end of each year. As shown, the MRI figure has decreased since 2014 and has been indicative of a seller’s market.
MONTHS OF REMAINING INVENTORY (ANNUAL TREND)
July 2014 November 2014 March 2015 July 2015 November 2015 March 2016 July 2016 November 2016 March 2017 July 2017 November 2017 March 2018 July 2018
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
Num
ber o
f Mon
ths
2014 2015 2016 2017 2018
0
1
2
3
4
5
6
7
Num
ber o
f Mon
ths
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05
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
Figures 10 and 11 show the number of new condominiums and apartments currently under construction by district. There are 1,149 new condominiums currently under construction in Seattle. An additional 863 condominiums are entitled and could begin construction in the near future.
FUTURE CONDOMINIUM SUPPLY BY DISTRICT
Figures 12 and 13 show future supply of apartments by district. There are 6,123 apartment units under construction and 9,824 apartment units approved.
FUTURE APARTMENT SUPPLY BY DISTRICT
FIG 13. CONDOMINIUMS APPROVEDFIG 12. CONDOMINIUMS UNDER CONSTRUCTION
FIG 15. APARTMENTS APPROVEDFIG 14. APARTMENTS UNDER CONSTRUCTION
9NE Seattle
244
8 NW Seattle0
7 Fremont/Ballard
0
6Queen Anne
574
CentralSeattle
0
11Kirkland
0
10Bellevue
143
2West Seattle
0
1Downtown
654
3Capitol Hill
51
5Lake Union
0
12Redmond
0
CURRENT PERFORMANCE LAST MONTH LAST YEAR
TOTAL PROJECTS
TOTAL RESIDENCES
TOTAL UNSOLD RESIDENCES
CURRENT PERFORMANCE LAST MONTH LAST YEAR
TOTAL PROJECTS
TOTAL RESIDENCES
TOTAL UNSOLD RESIDENCES
No Change 500 1,000
MAP OF THE MARKETNumber of Units: 1,149(Source: Polaris Pacific)
9NE Seattle
271
8 NW Seattle07 Fremont/
Ballard0
6Queen Anne
804
CentralSeattle
433
11Kirkland
0
10Bellevue
453
2West Seattle
45
1Downtown
1,109
3Capitol Hill
647
5Lake Union
1,718
12Redmond
1,367
No Change 500 1,000
MAP OF THE MARKETNumber of Units: 6,123(Source: Polaris Pacific)
9NE Seattle
0
8 NW Seattle21
7 Fremont/Ballard
0
6Queen Anne
04
CentralSeattle
0
11Kirkland
0
10Bellevue
0
2West
Seattle0
1Downtown
203
3Capitol
Hill287
5Lake Union
352
12Redmond
0
No Change 500 1,000
MAP OF THE MARKETNumber of Units: 863(Source: Polaris Pacific)
9NE Seattle
220
8 NW Seattle07 Fremont/
Ballard195
6Queen Anne
04
CentralSeattle
727
11Kirkland
435
10Bellevue
423
2West Seattle
76
1Downtown
4,605
3Capitol Hill
1,071
5Lake Union
1,410
12Redmond
662
No Change 500 1,000
MAP OF THE MARKETNumber of Units: 9,824(Source: Polaris Pacific)
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06
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
Figure 14 shows total annual multi-family completions of both apartments and condominiums in Seattle. The peak year for condominium completions was 2007, when 1,674 new units were delivered to the market. In stark contrast, there were only 236 condominium completions in 2017.
ANNUAL MULTI-FAMILY COMPLETIONS
FIG 14. TOTAL ANNUAL MULTI-FAMILY COMPLETIONS
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Year
Uni
ts
ApartmentsCondos
0500
1,0001,5002,0002,5003,0003,5004,0004,5005,0005,5006,0006,5007,0007,5008,000
Source: Polaris Pacific
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07
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
SEATTLE SUBDISTRICTS
REDMOND
KIRKLAND
BELLEVUECENTRALSEATTLE
DOWNTOWN
CAPITOL HILL
WESTSEATTLE
LAKE UNION
NORTHEAST SEATTLE
NORTHWEST SEATTLE
FREMONT BALLARD
QUEEN ANNE
DISTRICT 1 Belltown, Downtown, International District, Pioneer Square
DISTRICT 2 Admiral, Alki, Arbor Heights, Fauntleroy, Highpoint, Industrial District, North Delridge, Roxhill, South Delridge, West Seattle
DISTRICT 3 Capitol Hill, First Hill, Portage Bay
DISTRICT 4 Atlantic, Broadmoor, Central District, Denny-Blaine, Leschi, Madison Park, Madison Valley, Madrona, Montlake
DISTRICT 5 Eastlake, Westlake, South Lake Union
DISTRICT 6 Interbay, Lower Queen Anne, Magnolia, QueenAnne
DISTRICT 7 Ballard, Fremont, Loyal Heights, Sunset Hill, Whittier Heights
DISTRICT 8 Crown Hill, Greenlake, Greenwood, North Beach, North College Park, Olympic Manor, Phinney Ridge, Wallingford
DISTRICT 9 Bryant, Hawthorne, Laurelhurst, Maple LeafMatthews Beach, Meadowbrook, Ravenna Roosevelt, Sand Point, University District, View Ridge, Wedgewood, Windermere
DISTRICT 10 Clyde Hill, Downtown Bellevue, Enatai, Valley, Hunts Point, Medina, Meydenbauer, Bellevue, arrow Point Bridle Trails, Everest, Highlands, Houghton, Juanita, Lakeview, Market-Downtown, Moss Bay, Norkirk, North Rose Hill, South Rose Hill, Totem Lake
DISTRICT 11 Bridle Trails, Everest, Highlands, Houghton, Juanita, Lakeview, Market-Downtown, Moss Bay, Norkirk, North Rose Hill, South Rose Hill, Totem Lake
DISTRICT 12 Redmond
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08
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
CURRENTLY SELLING DEVELOPMENTS
NEW CONDOMINIUMS NOW SELLING
One88
MIRA Flats
Solis
Hendon Condos
Gridiron Condos
KODA
NEXUS
0 100 200 300 400Total Units
Number of Units AvailableUnits AvailableUnits ClosedUnits in Contract
CURRENT PERFORMANCE LAST MONTH LAST YEAR
TOTAL PROJECTS 5 5 5
TOTAL RESIDENCES 874 874 1,126
TOTAL UNSOLD RESIDENCES 305 305 236
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09
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
PROJECT INFORMATION Developer: Burrard Group
Submarket: Denny Triangle
Number of Homes: 389
HOA Fees: $325 - $1,500
CURRENT STATUSDate on Market: October 2016
First Close of Escrow: N/A
In Contract: 360
Closed: 0
Avg. Monthly Absorption: 13.2 Units
AMENITIES • Co-Working Space
• Fitness Center
• Sky Club
• Sky Bar
• Exhibition kitchen
• Recreation room
• Roof terrace with open-air kitchen
• Guest suites
• Business Center
FINISHES • Hardwood floors
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO - 395 - 436 $300,000- $688-
1-BED - 480 - 1,080 $350,000- $581-
1.5-BED - 669 - 1,400 $400,000- $571-
2-BED - 1,099 - 1,898 $800,000 - $683-
2.5-BED - 1,525 - 2,394 $1,500,000- $754-
3-BED - 1,618 - 1,672 $1,900,000 - $1,146-
3.5-BED - 2,177 - 2,194 N/A - N/A-
DESCRIPTION NEXUS is located in Downtown Seattle in the Denny Triangle neighborhood and consists of 389 units in a 40-story building.
NEXUSDISTRICT 1 / 1200 HOWELL ST
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10
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
PROJECT INFORMATION Developer: Da-Li International
Submarket: International District
Number of Homes: 203
HOA Fees: $300 - $860
CURRENT STATUSDate on Market: September 2018
First Close of Escrow: N/A
In Contract: 0 (193 Reservations)
Closed: 0
Avg. Monthly Absorption: - Units
AMENITIES • Co-Working Space
• Fitness Center
• Yoga studio
• Outdoor Zen garden
• LIbrary
• Business center
• Conference room
• Entertainment room
FINISHES • Hardwood floors
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 16 350 - 488 $400,000 - $500,000 $1,024 - $1,142
1-BED 101 559 - 780 $400,000 - $850,000 $715 - $1,090
2-BED 85 852 - 1148 $750,000 - $1,400,000 $880 - $1,220
LIVE/WORK 1 - - -
DESCRIPTION KODA is located in the International District of Seattle.
KODADISTRICT 1 / 450 S MAIN ST
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11
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
PROJECT INFORMATION Developer: Intracorp
Submarket: Bellevue
Number of Homes: 162
HOA Fees: -
CURRENT STATUSDate on Market: September 2018
First Close of Escrow: N/A
In Contract: 0 (79 reservations)
Closed: 0
Avg. Monthly Absorption: - Units
AMENITIES • Private courtyard
• Club room
• Rooftop deck
• Fire pit
• Dog run
FINISHES • Hardwood floors
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 19 406 - 528 $425,000- $975-
OPEN 1-BED 47 550 - 629 $485,000- $882-
1-BED 57 541 - 753 $525,000 - $928-
1.5-BED 5 752 - 752 $615,000 - $818-
2-BED 16 936 - 1,064 $795,000 - $849-
3-BED 6 1,189 - 1,191 $1,100,000- $925-
DESCRIPTION MIRA Flats are move-in ready condos centrally located in Downtown Bellevue. The six-story building will contain 162 residences.
MIRA FLATSDISTRICT 10 / 1085 103RD AVE NE
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12
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
OVERVIEW PRICING COMPS BELLEVUE PIPELINE TRENDS APPENDIX ABOUT POLARIS PACIFIC
PROJECT INFORMATION Developer: BOSA
Submarket: Bellevue
Number of Homes: 143
HOA Fees: $600 - $2,450
CURRENT STATUSDate on Market: September 2018
First Close of Escrow: N/A
In Contract: 124
Closed: 0
Avg. Monthly Absorption: 15.6 Units
AMENITIES • Indoor pool
• Fitness center
• Yoga studio
• Steam room
• Sauna
• Golf simulator
• Resident lounge
• Children’s playroom
• Pet retreat
• E/V charging stations
FINISHES • Hardwood floors
• Outdoor terraces
DESCRIPTION One88 is located at the intersection of Bellevue Way and Second Street in Downtown Bellevue.
ONE88DISTRICT 10 / 10429 NE 2ND ST
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
1-BED - 752 - 1,025 $825,000 - $1,250,000 $1,097 - $1,263
1.5-BED - 956 - 1,025 $875,000 - $1,175,000 $915 - $1,146
2-BED - 1,095 - 1,353 $1,175,000 - $1,575,000 $979 - $1,347
2.5-BED - 1,259 - 1,404 $1,325,000 - $2,150,000 $979 - $1,531
3-BED - 1,949 - 2,170 $2,225,000 - $3,375,000 $1,142 - $1,732
3.5-BED - 1,688 - 1,688 $2,350,000 - $3,050,000 $1,392 - $1,807
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13
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 12 458 - 538 $383,250- $833-
JUNIOR 1-BED 39 505 - 818 $459,790 - $695,000 $771- $861
1-BED 38 570 - 881 $482,000- $482,000 $821- $821
2-BED 16 915 - 1,430 $943,380- $1,206,610 $844- $977
LOFT 2 1,343 - 1,726 $901,870 - $901,870 $672- $672
PROJECT INFORMATION Developer: Daniels Real Estate
Submarket: Pioneer Square
Number of Homes: 107
HOA Fees: -
CURRENT STATUSDate on Market: November 2015
First Close of Escrow: -
In Contract: 22
Closed: 54
Avg. Monthly Absorption: 2.2 Units
AMENITIES • Rooftop deck
• Fitness center
• Bicycle storage
• Personal storage units
• Parcel storage
FINISHES • 16’ Ceilings
• Hard surface floors throughout
• White quartz countertops
DESCRIPTION Gridiron is in the heart of Pioneer Square, offering a central location in one of the most connected transit hubs in the city.
GRIDIRONDISTRICT 1 / 589 OCCIDENTAL
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14
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
PROJECT INFORMATION Developer: SolTerra
Submarket: Capitol Hill
Number of Homes: 45
HOA Fees: -
CURRENT STATUSDate on Market: September 2018
First Close of Escrow: N/A
In Contract: 0 (24 reservations)
Closed: 0
Avg. Monthly Absorption: - Units
AMENITIES • Rooftop deck
• Outdoor lounge
• BBQ area
• Dog run
• Green roof
• Six-story art wall
FINISHES • Bosch appliances
• Hardwood floors
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO - 445 - $450,000 - $1,011-
1-BED - 544 - $550,000- $1,011-
2-BED - 878 - $850,000-$985,000 $968-
DESCRIPTION Solis is located in centrally located in Capitol Hill. The community incorporates many energy-efficient designs and is targeting Passive House Certification.
SOLISDISTRICT 3 / 1300 E PIKE
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15
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 4 556 - 562 $375,000 - $674-
1-BED 9 702 - 850 $525,000 - $664-
1.5-BED 9 810 - 895 - -
2-BED 10 940 - 1,050 - -
PROJECT INFORMATION Developer: Isola Homes
Submarket: Phinney Ridge
Number of Homes: 32
HOA Fees: -
CURRENT STATUSDate on Market: February 2016
First Close of Escrow: -
In Contract: 9
Closed: 0
Avg. Monthly Absorption: 0.3 Units
AMENITIES • Rooftop deck
• Secure entry
• Underground parking
FINISHES • 12’ Ceilings
• Slab quartz countertops
• European cabinetry
• Stainless steel appliances
DESCRIPTION The Hendon Condos are centrally located in Phinney Ridge.
HENDON CONDOSDISTRICT 8 / 300 N 68TH ST
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16
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
SEATTLEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
INSIGNIA 2301 6TH AVE BOSA DEVELOPMENT 698
LUMA 1321 SENECA ST LOWE ENTERPRISES 168
VIK BALLARD 1760 NW 56TH ST CONTINENTAL PROPERTIES 117
FOUR SEASONS 99 UNION ST SEATTLE HOTEL GROUP 36
TOTAL 1,019
PAST RESALEDEVELOPMENTS
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17
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
1-BED 203 737 - 1,092 $415,000 -$660,000 $512 -$856
2-BED 502 1,003 - 2,311 $590,000-$2,670,000 $528 -$1,205
3-BED 2 2,192 - $2,580,000- $1,177 -
DESCRIPTION Insignia is the newest luxury condominium in Seattle. It offers 360° views of the skyline, Puget Sound and Olympic Mountains. It is located at the intersection of South Lake Union, Downtown and Belltown.
INSIGNIA DISTRICT 1 / 2301 6TH AVE
PROJECT INFORMATION Developer: BOSA
Submarket: Downtown
Number of Homes: 698
HOA Fees: $420 - $765
CURRENT STATUSDate on Market: September 2013
Sold Out Date: March 2017
In Contract: 0
Closed: 698
Avg. Monthly Absorption: 16.6 Units
AMENITIES • Spa and fitness center
• Sky terrace
• Screening room
• Outdoor pet area
• Secure parking
• Bike storage
FINISHES • Designed by Mitchell
Freedland
• Open space design
• Hardwood floors
• Whirlpool washer/dryer
• Private balconies
• Quartz countertops
• Bosch kitchen appliances
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18
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 3 602 - 620 $379,950- $384,950 $631- $639
1-BED 112 648 - 1,012 $459,950- $684,950 $549- $829
1.5-BED 3 847 - 858 $494,950- $504,950 $584- $596
2-BED 40 1,181 - 1,356 $649,950- $969,950 $527- $819
2.5-BED 6 1,322 - 1,529 $849,950 - $1,379,950 $643- $903
PH 4 1,586 - 1,721 $1,400,000- $813-
PROJECT INFORMATION Developer: Lowe Enterprises
Submarket: First Hill
Number of Homes: 168
HOA Fees: $350 - $1,000
CURRENT STATUSDate on Market: July 2015
Sold Out Date: November 2016
In Contract: 0
Closed: 168
Avg. Monthly Absorption: 10.4 Units
AMENITIES • Spa and fitness center
• Sky terrace
• Outdoor pet area with pet wash
• Secure parking
• Bike storage
• Private dining room
• Library
• Fireplace lounge
FINISHES • 16’ Open space design
• Hardwood floors
• Whirlpool or LG washer/dryer
• Private balconies
• Quartz, granite, or marble countertops
• Bosch and Samsung kitchen appliances
DESCRIPTION Luma is centrally located between the dynamic neighborhoods of First Hill and Capitol Hill.
LUMADISTRICT 1 / 1321 SENECA ST
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19
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
VIK BALLARDDISTRICT 7 / 1760 NW 56TH STREET
PROJECT INFORMATION Developer: Continental Properties
Submarket: Ballard
Number of Homes: 117
HOA Fees: $275 - $415
CURRENT STATUSDate on Market: April 2014
Sold Out Date: June 2016
In Contract: 0
Closed: 117
Avg. Monthly Absorption: 4.5 Units
AMENITIES • Concierge
• Fitness Center
• Rooftop dog run
• Bike storage
• Delivery Storage
FINISHES • Laminate wood-grain
flooring
• Stainless steel appliances
• Quartz-stone countertops
• Electronic wall safes
• High Speed WiFi and USB charging ports
DESCRIPTION Vik Ballard is located in the dynamic Ballard neighborhood in Seattle. The development features 117 residences housed in a six-story building.
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
STUDIO 12 520 - 575 $254,900 - $490 -
1-BED 44 661 - 763 $349,900 - $529 -
1.5-BED 52 733 - 812 $349,900 - $477 -
2-BED 5 1,096 - 1,112 $569,000 - $519 -
2.5-BED 4 1,127 - 1,202 $599,900 - $532 -
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SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
FOUR SEASONSDISTRICT 1 / 99 UNION STREET
PROJECT INFORMATION Developer: Seattle Hotel Group
Submarket: Downtown
Number of Homes: 36
HOA Fees: $1,220 - $2,800
CURRENT STATUSDate on Market: May 2008
Sold Out Date: September 2016
In Contract: 0
Closed: 36
Avg. Monthly Absorption: 1.0 Units
AMENITIES • 24/7 concierge
• Fitness center
• Infinity-edge pool
• Secure storage
FINISHES • Miele appliances
• Sub-Zero refrigerator and wine Cooler
• Kohler bathroom
• Stone countertrops
UNIT MIX & LIST PRICE SUMMARYTYPE #RESIDENCES SIZE SF PRICE RANGES PRICE P.S.F.
1-BED 13 1,025 - 4,865 $1,265,000 - $6,820,000 $1,055 - $3,440
2-BED 19 1,850 - 5,280 $2,700,000 - $9,160,000 $865 - $2,380
3-BED 3 3,190 - 7,380 $4,570,000 - $11,385,000 $1,430 - $1,575
6-BED 1 7,715 - $11,295,000 - $1,465 -
DESCRIPTION The Four Seasons offers unrivaled exclusivity in a premier waterfront location. Residents have full access to hotel amenities in addition to a full resident-only staff.
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21
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 1 - DOWNTOWNPROJECT NAME ADDRESS DEVELOPER RESIDENCES
ESCALA 1920 4TH AVE THE LEXAS COMPANIES 271
2200 WESTLAKE 2200 WESTLAKE AVE MILLIKEN / VULCAN 260
THE COSMOPOLITAN 819 VIRGINIA ST CONTINENTAL PROPERTIES 253
SEATTLE HEIGHTS 2600 2ND AVE COSMOS DEVELOPMENT 239
GALLERY 2911 2ND AVE SCHNITZER WEST 233
WATERFRONT LANDINGS 1950 ALASKAN WY INTRACORP 232
OLIVE 8 737 OLIVE WY R.C. HEDREEN COMPANY 229
CONCORD 2929 1ST AVE HAL REAL ESTATE INVESTMENTS 206
THE ELLINGTON 2801 1ST AVE INTRACORP 204
CRISTALLA 2033 1ST AVE MURRAY FRANKLYN 191
THE PARC 76 CEDAR ST INTRACORP 185
THE VINE 2607 WESTERN AVE INTRACORP 176
MOSLER LOFTS 2730 3RD AVE THE SCHUSTER GROUP 148
1521 2ND AVENUE 1521 2ND AVE THE OPUS GROUP 143
KLEE 2701 WESTERN AVE VAL THOMAS INCORPORATED 140
ENSO 820 BLANCHARD ST VULCAN REAL ESTATE 135
SITE 17 2440 WESTERN AVE HAL REAL ESTATE INVESTMENTS 129
5TH AND MADISON 909 5TH AVE BEACON CAPITAL PARTNERS 127
AVENUE ONE 2721 1ST AVE INTRACORP 120
THE FLORENTINE 526 1ST AVE ALEXANDER AND VENTURA 116
TRIO 3104 WESTERN AVE TRIAD DEVELOPMENT 116
VEER LOFTS 401 9TH AVE VULCAN REAL ESTATE 99
BELLORA 2716 ELLIOT AVE MURRAY FRANKLYN 93
TOBIRA 108 5TH AVE SOUTH WYSON GROUP 88
ONE PACIFIC TOWER 2000 1ST AVE VYZIS DEVELOPMENT GROUP 80
THE MATAE 159 DENNY WY OVATION PARTNERS 78
ASIA 668 S. LANE ST MASTRO PROPERTIES 75
BELLTOWN LOFTS 66 BELL ST THE URBAN FUND 62
CARBON 56 2015 TERRY AVE KAURI INVESTMENTS 56
POMEROY 2319 1ST AVE MURRAY FRANKLYN 54
MADISON TOWER 1000 1ST AVE WILLIAM JUSTEN 47
TOTAL 4,584
PAST RESALEDEVELOPMENTS
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22
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
PAST RESALEDEVELOPMENTSDISTRICT 1 - DOWNTOWN
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
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23
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
ESCALADISTRICT 1 / 1920 4TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: The Lexas CompaniesSubmarket: DowntownNumber of Homes: 271HOA Fees: $510 - $1,460
Sales start Date: Oct ‘09Sales End Date: Jan ‘10Avg. Absorption: 3.8 Units/Month
THE COSMOPOLITANDISTRICT 1 / 819 VIRGINIA ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 419 $322,500 $770 7
1-BED AVGS 6 899 $588,333 $665 13
2-BED AVGS 6 1,289 $746,667 $580 12
Developer: Continental PropertiesSubmarket: DowntownNumber of Homes: 253HOA Fees: $470 - $625
Sales start Date: Jan ‘06Sales End Date: Aug ‘09Avg. Absorption: 5.8 Units/Month
SEATTLE HEIGHTSDISTRICT 1 / 2600 2ND AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 3 665 $412,150 $624 20
2-BED AVGS 10 1,081 $693,276 $631 12
3-BED AVGS 2 3,143 $2,825,000 $902 13
Developer: Cosmos Development Submarket: BelltownNumber of Homes: 239HOA Fees: $475 - $830
Sales start Date: Aug ‘93Sales End Date: May ‘10Avg. Absorption: 1.2 Units/Month
2200 WESTLAKE DISTRICT 1 / 2200 WESTLAKE AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 3 1,384 $832,933 $601 24
- - - - - -
- - - - - -
Developer: Milliken / VulcanSubmarket: DowntownNumber of Homes: 260HOA Fees: $500 - $700
Sales start Date: July ‘05Sales End Date: Jun ‘10Avg. Absorption: 4.3 Units/Month
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24
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
GALLERYDISTRICT 1 / 2911 2ND AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 1,001 $405,000 $405 188
2-BED AVGS 2 1,400 $640,000 $459 61
- - - - - -
Developer: Schnitzer WestSubmarket: BelltownNumber of Homes: 233HOA Fees: $305 - $325
Sales start Date: Mar ‘08Sales End Date: Nov ‘11Avg. Absorption: 5.2 Units/Month
OLIVE 8DISTRICT 1 / 737 OLIVE WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 8 812 $629,500 $789 13
2-BED AVGS 4 1,468 $1,185,250 $801 64
- - - - - -
Developer: R.C. Hedreen Company Submarket: DowntownNumber of Homes: 229HOA Fees: $350 - $445
Sales start Date: May ‘07Sales End Date: Jan ‘10Avg. Absorption: 7.0 Units/Month
CONCORDDISTRICT 1 / 2929 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 7 712 $484,743 $689 20
2-BED AVGS 3 1,138 $755,333 $661 6
3-BED AVGS 1 3,070 $3,150,000 $1,026 15
Developer: HAL Real Estate InvestmentsSubmarket: BelltownNumber of Homes: 206HOA Fees: $320 - $620
Sales start Date: Sep ‘99Sales End Date: Apr ‘09Avg. Absorption: 1.8 Units/Month
WATERFRONT LANDINGS DISTRICT 1 / 1950 ALASKAN WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: IntracorpSubmarket: DowntownNumber of Homes: 232HOA Fees: $585 - $780
Sales start Date: Mar ‘00Sales End Date: Jun ‘03Avg. Absorption: 5.9 Units/Month
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25
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
THE ELLINGTONDISTRICT 1 / 2801 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 447 $301,500 $674 6
1-BED AVGS 7 686 $440,857 $643 9
2-BED AVGS 1 1,467 $1,060,000 $723 7
Developer: IntracorpSubmarket: BelltownNumber of Homes: 204HOA Fees: $295 - $380
Sales start Date: Feb ‘00Sales End Date: Nov ‘07Avg. Absorption: 2.2 Units/Month
THE PARCDISTRICT 1 / 76 CEDAR ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 423 $280,000 $662 5
1-BED AVGS 28 734 $418,774 $582 16
2-BED AVGS 12 1,132 $730,091 $642 23
Developer: Intracorp Submarket: BelltownNumber of Homes: 185HOA Fees: $345 - $705
Sales start Date: Jan ‘07Sales End Date: Mar ‘10Avg. Absorption: 4.8 Units/Month
THE VINEDISTRICT 1 / 2607 WESTERN AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 431 $320,000 $742 2
1-BED AVGS 14 821 $428,643 $527 9
2-BED AVGS 16 1,160 $690,313 $598 11
Developer: IntracorpSubmarket: BelltownNumber of Homes: 176HOA Fees: $315 - $660
Sales start Date: May ‘02Sales End Date: Jun ‘10Avg. Absorption: 1.8 Units/Month
CRISTALLADISTRICT 1 / 2033 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 422 $360,000 $853 8
1-BED AVGS 9 759 $598,176 $788 10
2-BED AVGS 1 1,572 $974,000 $620 75
Developer: Murray FranklynSubmarket: DowntownNumber of Homes: 191HOA Fees: $570 - $725
Sales start Date: May ‘05Sales End Date: Nov ‘10Avg. Absorption: 2.9 Units/Month
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26
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
MOSLER LOFTSDISTRICT 1 / 2730 3RD AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 4 563 $338,250 $602 7
1-BED AVGS 10 907 $577,650 $638 22
2-BED AVGS 1 1,529 $1,200,000 $785 7
Developer: The Schuster GroupSubmarket: DowntownNumber of Homes: 148HOA Fees: $330 - $750
Sales start Date: Nov ‘07Sales End Date: Jan ‘10Avg. Absorption: 5.6 Units/Month
KLEEDISTRICT 1 / 2701 WESTERN AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 494 $240,000 $486 115
1-BED AVGS 4 898 $491,750 $553 62
2-BED AVGS 3 1,250 $804,167 $634 28
Developer: Val Thomas Incorporated Submarket: BelltownNumber of Homes: 140HOA Fees: $295 - $310
Sales start Date: May ‘05Sales End Date: Dec ‘07Avg. Absorption: 4.4 Units/Month
ENSODISTRICT 1 / 820 BLANCHARD ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Vulcan Real Estate Submarket: DowntownNumber of Homes: 135HOA Fees: $460 - $695
Sales start Date: Aug ‘09Sales End Date: Dec ‘11Avg. Absorption: 4.9 Units/Month
1521 2ND AVENUEDISTRICT 1 / 1521 2ND AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 11 1,851 $2,201,727 $1,174 53
- - - - - -
- - - - - -
Developer: The Opus GroupSubmarket: DowntownNumber of Homes: 143HOA Fees: $1,200 - $1,385
Sales start Date: Nov ‘08Sales End Date: Apr ‘11Avg. Absorption: 4.9 Units/Month
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SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
SITE 17DISTRICT 1 / 2440 WESTERN AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 5 593 $346,240 $585 27
2-BED AVGS 2 1,026 $552,500 $539 26
- - - - - -
Developer: HAL Real Estate InvestmentsSubmarket: BelltownNumber of Homes: 129HOA Fees: $285 - $550
Sales start Date: Mar ‘05Sales End Date: Aug ‘08Avg. Absorption: 3.1 Units/Month
AVENUE ONE DISTRICT 1 / 2721 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 423 $280,000 $662 5
1-BED AVGS 28 734 $418,774 $582 16
2-BED AVGS 12 1,132 $730,091 $642 23
Developer: IntracorpSubmarket: BelltownNumber of Homes: 120HOA Fees: $240 - $610
Sales start Date: Aug ‘04Sales End Date: July ‘09Avg. Absorption: 2.0 Units/Month
THE FLORENTINEDISTRICT 1 / 526 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 4 1,369 $532,000 $388 16
2-BED AVGS 2 1,252 $485,000 $387 14
- - - - - -
Developer: Alexander and Ventura Submarket: Pioneer SquareNumber of Homes: 116HOA Fees: $515 - $625
Sales start Date: July ‘91Sales End Date: May ‘07Avg. Absorption: 0.6 Units/Month
5TH AND MADISONDISTRICT 1 / 909 5TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Beacon Capital PartnersSubmarket: DowntownNumber of Homes: 127HOA Fees: $575 - $855
Sales start Date: Jun ‘06Sales End Date: Oct ‘10Avg. Absorption: 2.4 Units/Month
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28
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
TRIODISTRICT 1 / 3104 WESTERN AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 511 $340,000 $665 5
1-BED AVGS 9 645 $396,444 $629 10
2-BED AVGS 1 1,200 $578,000 $482 25
Developer: Triad Development Submarket: BelltownNumber of Homes: 116HOA Fees: $200 - $295
Sales start Date: Mar ‘06Sales End Date: Nov ‘09Avg. Absorption: 2.3 Units/Month
BELLORA DISTRICT 1 / 2716 ELLIIOT AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 494 $240,000 $486 115
1-BED AVGS 4 898 $491,750 $553 62
2-BED AVGS 3 1,250 $804,167 $634 28
Developer: Murray Franklyn Submarket: BelltownNumber of Homes: 93HOA Fees: $265 - $560
Sales start Date: July ‘02Sales End Date: Sep ‘06Avg. Absorption: 1.8 Unnits/Month
TOBIRADISTRICT 1 / 108 5TH AVE SOUTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 3 470 $220,417 $470 65
1-BED AVGS 3 601 $323,300 $534 27
2-BED AVGS 2 968 $432,444 $447 9
Developer: Wyson Group Submarket: International DistrictNumber of Homes: 88HOA Fees: $240 - $300
Sales start Date: Jan ‘07Sales End Date: Sep ‘08Avg. Absorption: 4.3 Units/Month
VEER LOFTSDISTRICT 1 / 401 9TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Vulcan Real EstateSubmarket: DowntownNumber of Homes: 99HOA Fees: $370 - $510
Sales start Date: Jun ‘06Sales End Date: Nov ‘10Avg. Absorption: 1.8 Units/Month
![Page 32: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/32.jpg)
29
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
ONE PACIFIC TOWERDISTRICT 1 / 2000 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 436 $324,500 $746 141
2-BED AVGS 3 1,941 $1,871,000 $935 51
- - - - - -
Developer: Vyzis Development GroupSubmarket: DowntownNumber of Homes: 80HOA Fees: $1,300 - $1,515
Sales start Date: Aug ‘95Sales End Date: May ‘10Avg. Absorption: 0.5 Units/Month
ASIA DISTRICT 1 / 668 S. LANE ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Mastro PropertiesSubmarket: International DistrictNumber of Homes: 75HOA Fees: $300
Sales start Date: Jun ‘06Sales End Date: Jun ‘06Avg. Absorption: 25 Units/Month
BELLTOWN LOFTSDISTRICT 1 / 66 BELL ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 8 668 $335,063 $500 8
- - - - - -
- - - - - -
Developer: The Urban FundSubmarket: BelltownNumber of Homes: 62HOA Fees: $375 - $425
Sales start Date: Sep ‘00Sales End Date: July ‘09Avg. Absorption: 0.6 Units/Month
THE MATAEDISTRICT 1 / 159 DENNY WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 561 $325,000 $579 94
1-BED AVGS 8 799 $458,500 $574 22
2-BED AVGS 1 1,011 $560,000 $554 8
Developer: Ovation PartnersSubmarket: BelltownNumber of Homes: 78HOA Fees: $180 - $365
Sales start Date: Aug ‘04Sales End Date: Aug ‘06Avg. Absorption: 1.6 Units/Month
![Page 33: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/33.jpg)
30
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
CARBON 56DISTRICT 1 / 2015 TERRY AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 1,142 $570,000 $499 71
- - - - - -
- - - - - -
Developer: Kauri Investments Submarket: DowntownNumber of Homes: 56HOA Fees: $225 - $270
Sales start Date: Feb ‘07Sales End Date: Mar ‘08Avg. Absorption: 4.3 Units/Month
MADISON TOWER DISTRICT 1 / 1000 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 5 836 $541,000 $647 19
2-BED AVGS 2 1,444 $955,000 $661 82
- - - - - -
Developer: William Justen Submarket: DowntownNumber of Homes: 47HOA Fees: $420 - $1,085
Sales start Date: Mar ‘05Sales End Date: May ‘09Avg. Absorption: 0.9 Units/Month
POMEROYDISTRICT 1 / 2319 1ST AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,264 $698,000 $552 341
- - - - - -
- - - - - -
Developer: Murray Franklyn Submarket: BelltownNumber of Homes: 54HOA Fees: $330 - $430
Sales start Date: Feb ‘00Sales End Date: May ‘06Avg. Absorption: 0.7 Units/Month
![Page 34: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/34.jpg)
31
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 2 - WEST SEATTLEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
HIGHPOINT 2800 SW RAYMOND ST CORNERSTONE DEVELOPMENT 96
ADELAIDE 5001 CALIFORNIA AVE WEST SEATTLE PROPERTY 72
THE ADMIRAL 2331 42ND AVE SW. GARTIN PROPERTIES 65
HARBOR PLACE 3318 30TH AVE SW. HARBOR COURT, LLC 57
VERGE 3213 HABOR AVE SW. SKYLINE CONDOMINIUM 52
SAUSALITO 3015 SW AVALON WY KAURI INVESTMENTS 51
TOTAL 393
PAST RESALEDEVELOPMENTS
2WEST
SEATTLE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 35: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/35.jpg)
32
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
HIGHPOINTDISTRICT 2 / 2800 SW RAYMOND ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,304 $380,000 $291 9
- - - - - -
- - - - - -
Developer: Cornerstone DevelopmentSubmarket: HighpointNumber of Homes: 96HOA Fees: $210 - $320
Sales start Date: Nov ‘06Sales End Date: Aug ‘07Avg. Absorption: 10.6 Units/Month
THE ADMIRALDISTRICT 2 / 2331 42ND AVE SOUTHWEST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 410 $194,000 $473 65
1-BED AVGS 3 643 $268,300 $417 4
- - - - - -
Developer: Gartin PropertiesSubmarket: AdmiralNumber of Homes: 65HOA Fees: $195 - $270
Sales start Date: Apr ‘03Sales End Date: Jun ‘05Avg. Absorption: 2.5 Units/Month
HARBOR PLACEDISTRICT 2 / 3318 30TH AVE SOUTHWEST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 572 $228,500 $400 5
2-BED AVGS 2 856 $322,500 $377 7
- - - - - -
Developer: Harbor Court, LLC Submarket: AdmiralNumber of Homes: 57HOA Fees: $325 - $375
Sales start Date: Apr ‘00Sales End Date: Jun ‘04Avg. Absorption: 1.1 Units/Month
ADELAIDEDISTRICT 2 / 5001 CALIFORNIA AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 5 790 $334,000 $422 10
2-BED AVGS 2 1,096 $414,000 $382 15
- - - - - -
Developer: West Seattle PropertySubmarket: West SeattleNumber of Homes: 72HOA Fees: $255 - $390
Sales start Date: Sep ‘03Sales End Date: Jun ‘05Avg. Absorption: 3.4 Units/Month
![Page 36: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/36.jpg)
33
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
THE VERGEDISTRICT 2 / 3213 HARBOR AVE SOUTHWEST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Skyline Condominium Submarket: AdmiralNumber of Homes: 52HOA Fees: $230 - $290
Sales start Date: Sep ‘06Sales End Date: Mar ‘11Avg. Absorption: 1.0 Units/Month
SAUSALITODISTRICT 2 / 3015 SW. AVALON WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 3 565 $217,500 $387 8
2-BED AVGS 2 1,020 $376,150 $365 5
- - - - - -
Developer: Kauri InvestmentsSubmarket: North DelridgeNumber of Homes: 51HOA Fees: $270 - $340
Sales start Date: Jan ‘02Sales End Date: Apr ‘04Avg. Absorption: 2.1 Units/Month
![Page 37: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/37.jpg)
34
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 3 - CAPITOL HILLPROJECT NAME ADDRESS DEVELOPER RESIDENCES
THE MERIDIAN 1420 TERRY AVE TALISEN CORPORATION 161
BRIX 530 BROADWAY EAST SCHNITZER WEST 148
DECATUR 1105 SPRING ST WYSONG GROUP 145
THE PRESS 1610 BELMONT AVE TED SCROTH 141
BOLERO 1323 BOREN AVE THE PAULS CORPORATION 75
PIKE LOFTS 303 E. PIKE ST MILLIKEN DEVELOPMENT 61
MERITAGE 124 BELLEVUE AVE EAST MILLIKEN DEVELOPMENT 51
HARVARD AND HIGHLAND 1178 HIGHLAND AVE ADMIRALTY GROUP 38
MODE 752 BELLEVUE AVE URBAN SEATTLE 36
TOTAL 856
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 38: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/38.jpg)
35
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
THE MERIDIANDISTRICT 3 / 1420 TERRY AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 4 437 $247,000 $566 9
1-BED AVGS 26 619 $377,927 $605 9
2-BED AVGS 6 743 $355,838 $485 37
Developer: Taliesen CorporationSubmarket: First HillNumber of Homes: 161HOA Fees: $650 - $1,440
Sales start Date: Dec ‘02 Sales End Date: Oct ‘09Avg. Absorption: 1.9 Units/Month
DECATURDISTRICT 3 / 1105 SPRING ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 4 1,259 $654,250 $525 51
3-BED AVGS 1 1,274 $587,000 $461 56
- - - - - -
Developer: Wysong GroupSubmarket: First HillNumber of Homes: 145HOA Fees: $290 - $390
Sales start Date: Jan ‘07Sales End Date: Apr ‘11Avg. Absorption: 2.8 Units/Month
THE PRESSDISTRICT 3 / 1610 BELMONT AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 490 $320,000 $655 8
1-BED AVGS 6 628 $434,333 $693 7
2-BED AVGS 2 890 $588,000 $662 7
Developer: Ted Scroth Submarket: Capitol HillNumber of Homes: 141HOA Fees: $220 - $300
Sales start Date: Sep ‘06Sales End Date: May ‘09Avg. Absorption: 4.3 Units/Month
BRIXDISTRICT 3 / 530 BROADWAY EAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 14 716 $467,950 $663 7
2-BED AVGS 2 1,075 $550,000 $514 9
- - - - - -
Developer: Schnitzer West Submarket: Capitol HillNumber of Homes: 148HOA Fees: $345 - $560
Sales start Date: Oct ‘06Sales End Date: Sep ‘10Avg. Absorption: 3.1 Units/Month
![Page 39: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/39.jpg)
36
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
BOLERODISTRICT 3 / 1323 BOREN AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 3 429 $263,833 $615 9
1-BED AVGS 4 530 $350,175 $662 9
2-BED AVGS 1 795 $370,000 $465 1
Developer: The Pauls Corporation Submarket: First HillNumber of Homes: 75HOA Fees: $215 - $300
Sales start Date: Apr ‘06Sales End Date: Aug ‘09Avg. Absorption: 1.8 Units/Month
MERITAGEDISTRICT 3 / 124 BELLEVUE AVE EAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 449 $271,000 $605 7
2-BED AVGS 1 1,054 $566,000 $537 10
- - - - - -
Developer: Milliken Development Submarket: Capitol HillNumber of Homes: 51HOA Fees: $160 - $280
Sales start Date: Mar ‘06Sales End Date: Sep ‘11Avg. Absorption: 0.8 Units/Month
HARVARD AND HIGHLANDDISTRICT 3 / 1178 HAVARD AVE EAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,888 $1,600,000 $847 9
- - - - - -
- - - - - -
Developer: Admiralty GroupSubmarket: Capitol HillNumber of Homes: 38HOA Fees: $680 - $920
Sales start Date: Mar ‘10Sales End Date: Apr ‘11Avg. Absorption: 2.9 Units/Month
PIKE LOFTSDISTRICT 3 / 303 E. PIKE ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 768 $457,500 $596 22
- - - - - -
- - - - - -
Developer: Milliken Development Submarket: First HillNumber of Homes: 61HOA Fees: $300 - $335
Sales start Date: Feb ‘99Sales End Date: Dec ‘02 Avg. Absorption: 1.3 Units/Month
![Page 40: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/40.jpg)
37
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
MODEDISTRICT 3 / 752 BELLEVUE AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 448 $280,000 $625 39
- - - - - -
- - - - - -
Developer: Urban SeattleSubmarket: Capitol HillNumber of Homes: 36HOA Fees: $90 - $160
Sales start Date: May ‘08Sales End Date: Dec ‘09Avg. Absorption: 1.9 Units/Month
![Page 41: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/41.jpg)
38
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 4 - CENTRAL SEATTLEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
BRAEBURN 1420 E. PINE ST HAL REAL ESTATE INVESTMENTS 153
TRACE NORTH 1408 12TH AVE GTS DEVELOPMENT 142
ONYX 1125 E. OLIVE ST MILLIKEN DEVELOPMENT 62
ELEVEN ELEVEN E PIKE 1111 E. PIKE ST THE JUSTEN COMPANY 28
TOTAL 385
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 42: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/42.jpg)
39
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
BRAEBURNDISTRICT 4 / 1420 E. PINE ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 526 $315,000 $599 20
1-BED AVGS 8 635 $371,125 $584 12
2-BED AVGS 4 989 $541,250 $546 16
Developer: HAL Real Estate Submarket: Capitol HillNumber of Homes: 153HOA Fees: $210 - $310
Sales start Date: Jan ‘06Sales End Date: May ‘08Avg. Absorption: 5.4 Units/Month
ONYX DISTRICT 4 / 1125 E. OLIVE ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 508 $292,500 $576 17
1-BED AVGS 4 579 $354,250 $612 8
2-BED AVGS 4 1,003 $528,250 $527 11
Developer: Milliken Development Submarket: Capitol HillNumber of Homes: 62HOA Fees: $420 - $540
Sales start Date: Mar ‘06Sales End Date: Mar ‘08Avg. Absorption: 2.5 Units/Month
ELEVEN ELEVEN E PIKEDISTRICT 4 / 1111 E. PIKE ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 3 685 $434,000 $633 8
- - - - - -
- - - - - -
Developer: The Justen Company Submarket: Capitol HillNumber of Homes: 28HOA Fees: $320 - $370
Sales start Date: Dec ‘09Sales End Date: Apr ‘11Avg. Absorption: 1.7 Units/Month
TRUE NORTHDISTRICT 4 / 1408 12TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 486 $296,925 $611 9
1-BED AVGS 12 746 $473,396 $637 20
2-BED AVGS 4 1,066 $696,631 $652 8
Developer: GTS Development Submarket: Capitol HillNumber of Homes: 142HOA Fees: $260 - $275
Sales start Date: Apr ‘07Sales End Date: Nov ‘11Avg. Absorption: 2.5 Units/Month
![Page 43: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/43.jpg)
40
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 5 - LAKE REGIONPROJECT NAME ADDRESS DEVELOPER RESIDENCES
MARSELLE 699 JOHN ST MARSELLE PARTNERS 132
LUMEN 500 MERCER ST LANDSTAR DEVELOPMENT 92
PORTAL OVER LAKE UNION 655 CROCKETT ST UPWIND CAPITAL 76
5TH AVENUE RESIDENCES 812 5TH AVE NORTH EQUITY RESIDENTIAL 62
RUBY 2960 EASTLAKE AVE EAST BARRIENTOS 52
TOTAL 414
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 44: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/44.jpg)
41
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
MARSELLEDISTRICT 5 / 699 JOHN ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 13 817 $415,484 $519 10
2-BED AVGS 3 1,289 $718,663 $558 8
3-BED AVGS 1 1,690 $970,000 $574 62
Developer: Marselle Partners Submarket: South Lake UnionNumber of Homes: 132HOA Fees: $270 - $320
Sales start Date: Jun ‘09Sales End Date: Nov ‘12Avg. Absorption: 3.2 Units/Month
PORTAL OVER LAKE UNIONDISTRICT 5 / 655 CROCKETT ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 1 932 $419,950 $451 9
- - - - - -
- - - - - -
Developer: Upwind Capital Submarket: WestlakeNumber of Homes: 76HOA Fees: $240 - $480
Sales start Date: Apr ‘04Sales End Date: Apr ‘06Avg. Absorption: 3.1 Units/Month
5TH AVENUE RESIDENCESDISTRICT 5 / 812 5TH AVENUE NORTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 610 $299,950 $492 30
2-BED AVGS 2 923 $495,000 $535 7
- - - - - -
Developer: Equity ResidentialSubmarket: Lower Queen AnneNumber of Homes: 62HOA Fees: $160 - $340
Sales start Date: Mar ‘06Sales End Date: May ‘07Avg. Absorption: 4.3 Units/Month
LUMEN DISTRICT 5 / 500 MERCER ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Landstar Development Submarket: Lower Queen AnneNumber of Homes: 92HOA Fees: $335 - $755
Sales start Date: Jan ‘07Sales End Date: Feb ‘10Avg. Absorption: 2.4 Units/Month
![Page 45: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/45.jpg)
42
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
RUBYDISTRICT 5 / 2960 EASTLAKE AVE EAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 8 737 $396,062 $540 15
- - - - - -
- - - - - -
Developer: Barrientos Submarket: EastlakeNumber of Homes: 52HOA Fees: $330 - $335
Sales start Date: Jan ‘09Sales End Date: Mar ‘12Avg. Absorption: 1.4 Units/Month
![Page 46: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/46.jpg)
43
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 6 - QUEEN ANNEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
ATHENA 323 QUEEN ANNE AVE PRYDE CORPORATION 91
TRIBECA 17 W. MERCER ST MILLIKEN DEVELOPMENT 51
TOTAL 142
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 47: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/47.jpg)
44
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
ATHENADISTRICT 6 / 323 QUEEN ANNE AVE NORTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 4 427 $281,250 $657 48
1-BED AVGS 5 548 $317,200 $580 71
2-BED AVGS 2 926 $471,250 $510 52
Developer: Pryde Corportation Submarket: Lower Queen AnneNumber of Homes: 91HOA Fees: $270 - $360
Sales start Date: Sep ‘05Sales End Date: Mar ‘08Avg. Absorption: 3.0 Units/Month
TRIBECADISTRICT 6 / 17 W. MERCER ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 3 470 $220,417 $470 65
1-BED AVGS 3 601 $323,300 $534 27
2-BED AVGS 2 968 $432,444 $447 9
Developer: Milliken Development Submarket: Lower Queen AnneNumber of Homes: 51HOA Fees: $275 - $580
Sales start Date: Jan ‘03Sales End Date: May ‘05Avg. Absorption: 1.8 Units/Months
![Page 48: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/48.jpg)
45
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 7 - FREMONT / BALLARDPROJECT NAME ADDRESS DEVELOPER RESIDENCES
CANAL STATION 5440 LEARY AVE CLAUDIO GUINCHER 278
BALLARD PLACE 1545 NW 57TH ST PACIFIC RIM INVESTMENT 172
NOMA 5650 24TH AVE NW. TRIAD DEVELOPMENT 90
HJARTA 1530 NW MARKET ST PRYDE & JOHNSON 80
COBRIZO 4020 AURORA AVE NORTH KAURI INVESTMENTS 50
TOTAL 670
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 49: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/49.jpg)
46
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
CANAL STATIONDISTRICT 7 / 5440 LEARY AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 17 747 $388,838 $523 12
2-BED AVGS 5 1,222 $574,400 $471 8
- - - - - -
Developer: Claudio Guincher Submarket: BallardNumber of Homes: 278HOA Fees: $250 - $320
Sales start Date: Nov ‘05Sales End Date: Oct ‘10Avg. Absorption: 4.6 Units/Month
NOMADISTRICT 7 / 5650 24TH AVE NORTHWEST
Developer: Triad Development Submarket: BallardNumber of Homes: 90HOA Fees: $215 - $330
Sales start Date: Jan ‘07Sales End Date: Mar ‘09Avg. Absorption: 3.4 Units/Month
HJARTADISTRICT 7 / 1530 NW. MARKET ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 486 $240,000 $494 10
1-BED AVGS 10 702 $381,150 $544 9
2-BED AVGS 2 1,121 $565,750 $508 21
Developer: Pryde & JohnsonSubmarket: BallardNumber of Homes: 80HOA Fees: $250 - $380
Sales start Date: Mar ‘08Sales End Date: Apr ‘11Avg. Absorption: 2.1 Units/Month
BALLARD PLACEDISTRICT 7 / 1545 NW. 57TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 486 $240,000 $494 10
1-BED AVGS 10 702 $381,150 $544 9
2-BED AVGS 2 1,121 $565,750 $508 21
Developer: Pacific Rim Investment Submarket: BallardNumber of Homes: 172HOA Fees: $205 - $405
Sales start Date: Jan ‘03Sales End Date: Sep ‘07Avg. Absorption: 3.0 Units/Month
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
![Page 50: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/50.jpg)
47
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
COBRIZODISTRICT 7 / 4020 AURORA AVE NORTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 567 $257,475 $453 4
- - - - - -
- - - - - -
Developer: Kauri Investments Submarket: FremontNumber of Homes: 50HOA Fees: $190 - $305
Sales start Date: Sep ‘02Sales End Date: Nov ‘03Avg. Absorption: 3.5 Units/Month
![Page 51: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/51.jpg)
48
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 8 - NORTHWEST SEATTLEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
REGATA 1700 N NORTHLAKE WY TRIAD DEVELOPMENT 101
FINI 6801 GREENWOOD AVE N PHINNEY RIDGE PARTNERS 54
SAPPHIRE 424 N 85TH ST MURRAY FRANKLYN 54
TAVONA 3333 WALLINGFORD AVE N MILLIKEN DEVELOPMENT 51
TOTAL 260
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 52: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/52.jpg)
49
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
REGATADISTRICT 8 / 1700 N. NORTHLAKE WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 1 1,081 $579,000 $536 7
- - - - - -
- - - - - -
Developer: Triad Development Submarket: WallingfordNumber of Homes: 101HOA Fees: $330 - $370
Sales start Date: Jun ‘01Sales End Date: Dec ‘04Avg. Absorption: 2.4 Units/Month
SAPPHIREDISTRICT 8 / 424 N 85TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 2 1,016 $347,500 $342 9
- - - - - -
- - - - - -
Developer: Murray FranklynSubmarket: GreenwoodNumber of Homes: 54HOA Fees: $270 - $315
Sales start Date: Jun ‘07Sales End Date: Aug ‘11Avg. Absorption: 1.1 Units/Month
TAVONADISTRICT 8 / 3333 WILLINGFORD AVE NORTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 518 $281,000 $544 44
2-BED AVGS 2 689 $367,475 $536 30
- - - - - -
Developer: Milliken DevelopmentSubmarket: WallingfordNumber of Homes: 51HOA Fees: $175 - $245
Sales start Date: Jul ‘06 Sales End Date: Nov ‘09Avg. Absorption: 1.3 Units/Month
FINIDISTRICT 8 / 6801 GREENWOOD AVE NORTH
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Phinney Ridge Partners Submarket: Phinney RidgeNumber of Homes: 54HOA Fees: $395 - $695
Sales start Date: May ‘07Sales End Date: May ‘09Avg. Absorption: 2.2 Units/Month
![Page 53: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/53.jpg)
50
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 9 - NORTHEAST SEATTLEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
BLAKELEY COMMONS 2901 NW. BLAKELEY ST BABCOCK & BERGLUND 110
THE GREENLAKE 410 NW. 70TH ST JOHANSEN PROPERTIES 106
DWELL ROOSEVELT 1026 NW. 65TH ST TRIAD DEVELOPMENT 78
DUNCAN PLACE 4547 8TH AVE NE BASE CAPITAL 63
FLORERA GREENLAKE 413 NE. 70TH ST PRYDE & JOHNSON 59
TOTAL 416
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 54: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/54.jpg)
51
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
BLAKELEY COMMONSDISTRICT 9 / 2901 NE. BLAKELEY ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 5 732 $430,200 $589 25
2-BED AVGS 1 1,026 $630,000 $614 1
- - - - - -
Developer: Babcock & Berglund Submarket: University DistrictNumber of Homes: 110HOA Fees: $270 - $415
Sales start Date: Jun ‘01Sales End Date: Apr ‘05Avg. Absorption: 2.4 Units/Month
DWELL ROOSEVELTDISTRICT 9 / 1026 NE. 65TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 1 617 $367,900 $596 7
2-BED AVGS 1 854 $440,000 $515 6
- - - - - -
Developer: Triad Development Submarket: RooseveltNumber of Homes: 78HOA Fees: $370 - $385
Sales start Date: Dec ‘05Sales End Date: Aug ‘08Avg. Absorption: 2.4 Units/Month
DUNCAN PLACEDISTRICT 9 / 4547 8TH AVE NORTHEAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 2 621 $364,000 $588 8
2-BED AVGS 1 1,120 $490,000 $438 32
4-BED AVGS 1 1,742 $628,000 $361 4
Developer: Base Capital Submarket: University DistrictNumber of Homes: 63HOA Fees: $250 - $345
Sales start Date: May ‘10Sales End Date: Feb ‘13Avg. Absorption: 1.9 Units/Month
THE GREENLAKEDISTRICT 9 / 410 NE. 70TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 462 $285,000 $614 2
1-BED AVGS 5 687 $451,000 $656 13
2-BED AVGS 1 1,297 $761,000 $587 7
Developer: Johansen Properties Submarket: GreenlakeNumber of Homes: 106HOA Fees: $200- $300
Sales start Date: Feb ‘03Sales End Date: Feb ‘05Avg. Absorption: 2.9 Units/Month
![Page 55: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/55.jpg)
52
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
FLORERA GREENLAKEDISTRICT 9 / 413 NE. 70TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 2 462 $285,000 $614 2
1-BED AVGS 5 687 $451,000 $656 13
2-BED AVGS 1 1,297 $761,000 $587 7
Developer: Pryde & Johnson Submarket: GreenlakeNumber of Homes: 59HOA Fees: $250 - $335
Sales start Date: Jan ‘08Sales End Date: May ‘10Avg. Absorption: 2.1 Units/Month
![Page 56: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/56.jpg)
53
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 10 - BELLEVUEPROJECT NAME ADDRESS DEVELOPER RESIDENCES
BELLEVUE TOWERS 500 106TH AVE BELLEVUE TOWERS, LLC 539
WASHINGTON SQUARE 10610 NE. 9TH PL WASATCH GROUP 377
BELLE ARTS 111 108TH AVE NE EQUITY RESIDENTIAL 128
ONE MAIN STREET 10000 MAIN ST TURNING POINT 57
TOTAL 1,101
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 57: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/57.jpg)
54
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
WASHINGTON SQUAREDISTRICT 10 / 10610 NE. 9TH PL
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 20 901 $583,075 $651 314
2-BED AVGS 24 1,562 $1,017,010 $650 253
- - - - - -
Developer: Wasatch GroupSubmarket: Downtown BellevueNumber of Homes: 377HOA Fees: $390 - $620
Sales start Date: Jun ‘06Sales End Date: Jul ‘13Avg. Absorption: 4.4 Units/Month
ONE MAIN STREETDISTRICT 10 / 10000 MAIN ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
1-BED AVGS 6 773 $526,060 $676 13
2-BED AVGS 3 1,541 $1,247,333 $810 15
3-BED AVGS 1 1,688 $860,000 $509 2
Developer: Turning PointSubmarket: Downtown BellevueNumber of Homes: 57HOA Fees: $650 - $835
Sales start Date: Jun ‘10Sales End Date: Jun ‘12Avg. Absorption: 2.3 Units/Month
BELLE ARTSDISTRICT 10 / 111 108TH AVE NORTHEAST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
STUDIO AVGS 4 526 $287,730 $548 38
1-BED AVGS 4 701 $372,516 $533 7
2-BED AVGS 2 1,022 $503,500 $497 6
Developer: Equity Residential Submarket: Downtown BellevueNumber of Homes: 128HOA Fees: $215 - $440
Sales start Date: Dec ‘06Sales End Date: Jan ‘13Avg. Absorption: 1.7 Units/Month
![Page 58: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/58.jpg)
55
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 11 - KIRKLANDPROJECT NAME ADDRESS DEVELOPER RESIDENCES
KIRKLAND CENTRAL 211 KIRKLAND AVE CONTINENTAL PROPERTIES 110
LOCHSHIRE 9229 122ND CT LOCHSHIRE CONDOMINIUM 100
WATERSTONE 10822 SLATER ST INTRACORP 60
SOHO 521 7TH AVE SEVENTH AVENUE 58
VILLA SONOMA 8244 126TH AVE NORTHSTAR DEVELOPMENT 55
TOTAL 383
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
![Page 59: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/59.jpg)
56
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
KIRKLAND CENTRALDISTRICT 11 / 211 KIRKLAND AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Continental PropertiesSubmarket: Moss BayNumber of Homes: 110HOA Fees: $175 - $300
Sales start Date: Apr ‘06Sales End Date: Feb ‘09Avg. Absorption: 3.2 Units/Month
WATERSTONEDISTRICT 11 / 10822 SLATER ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: IntracorpSubmarket: HighlandsNumber of Homes: 60HOA Fees: $225 - $365
Sales start Date: Nov ‘04Sales End Date: Jun ‘06Avg. Absorption: 3.1 Units/Month
SOHODISTRICT 11 / 521 7TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Seventh AvenueSubmarket: NorkirkNumber of Homes: 58HOA Fees: $90 - $330
Sales start Date: Jun ‘00Sales End Date: Nov ‘01Avg. Absorption: 3.4 Units/Month
LOCHSHIREDISTRICT 11 / 9229 122ND CT
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
2-BED AVGS 5 1,178 $431,000 $366 4
- - - - - -
- - - - - -
Developer: Lochshire Condominium Submarket: North Rose HillNumber of Homes: 100HOA Fees: $155 - $205
Sales start Date: Mar ‘01Sales End Date: Sep ‘05Avg. Absorption: 1.9 Units/Month
![Page 60: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/60.jpg)
57
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
VILLA SONOMADISTRICT 11 / 8244 126TH AVE
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Northstar DevelopmentSubmarket: South Rose HillNumber of Homes: 55HOA Fees: $325
Sales start Date: Jan ‘06Sales End Date: Oct ‘11Avg. Absorption: 0.8 Units/Month
![Page 61: THEPOLARIS PACIFIC REPORT€¦ · 02 SEATTLE RESEARCH REPORT / SEPTEMBER 2018 MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC During the three-month period ending](https://reader034.vdocuments.site/reader034/viewer/2022042118/5e9747d44465ab275b6066aa/html5/thumbnails/61.jpg)
58
SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISTRICT 12 - REDMONDPROJECT NAME ADDRESS DEVELOPER RESIDENCES
ELEMENT 15110 81ST WY INTRACORP 94
TALUSWOOD 9609 182ND PL MOSAIC HOMES 85
THE CLEVELAND 16141 CLEVELAND ST INTRACORP 84
COMPASS POINTE 22621 ALDER CREST DR CARINO HOMES 72
CEDAR PARK 10523 221ST AVE CARINO HOMES 70
NATURE’S WALK 22549 ALDER CREST MOSAIC HOMES 60
FRAZER COURT 16275 85TH ST FRAZER INVESTMENTS 59
THE VILLAS AT MONDAVIO 15640 102ND WY POLYGON NORTHWEST 33
TOTAL 557
PAST RESALEDEVELOPMENTS
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
1DOWNTOWN
3 CAPITOL HILL
2WEST
SEATTLE
5 LAKE UNION
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
12REDMOND
11KIRKLAND
10BELLEVUE
4CENTRALSEATTLE
2WEST
SEATTLE
9NORTHEAST
SEATTLE
8 NORTHWEST SEATTLE
7FREMONT BALLARD
6QUEEN ANNE
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SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
ELEMENTDISTRICT 12 / 15110 81ST WY
Developer: IntracorpSubmarket: RedmondNumber of Homes: 94HOA Fees: $205 - $225
Sales start Date: Sep ‘09Sales End Date: Oct ‘11Avg. Absorption: 3.7 Units/Month
THE CLEVELANDDISTRICT 12 / 16141 CLEVELAND ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: IntracorpSubmarket: RedmondNumber of Homes: 84HOA Fees: $260 - $350
Sales start Date: Nov ‘05Sales End Date: Apr ‘08Avg. Absorption: 2.9 Units/Month
COMPASS POINTEDISTRICT 12 / 22621 ALDER CREST DR
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Carino HomesSubmarket: RedmondNumber of Homes: 72HOA Fees: $215 - $240
Sales start Date: Mar ‘00Sales End Date: Jun ‘04Avg. Absorption: 1.4 Units/Month
TALUSWOODDISTRICT 12 / 9609 182ND PL
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Mosaic HomesSubmarket: RedmondNumber of Homes: 85HOA Fees: $255 - $295
Sales start Date: Jan ‘02Sales End Date: Dec ‘08Avg. Absorption:
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SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
CEDAR PARKDISTRICT 12 / 10523 221ST AVE
Developer: Carino HomesSubmarket: RedmondNumber of Homes: 70HOA Fees: $155 - $205
Sales start Date: Feb ‘00Sales End Date: Aug ‘01Avg. Absorption: 3.8 Units/Month
FRAZER COURTDISTRICT 12 / 16275 85TH ST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Frazer InvestmentsSubmarket: RedmondNumber of Homes: 59HOA Fees: $250 - $300
Sales start Date: Jan ‘06Sales End Date: Jun ‘08Avg. Absorption: 2.0 Units/Month
THE VILLAS AT MONDAVIODISTRICT 12 / 15640 102ND WY
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Polygon NorthwestSubmarket: RedmondNumber of Homes: 33HOA Fees: $315
Sales start Date: Oct ‘12Sales End Date: Feb ‘14Avg. Absorption: 1.2 Units/Month
NATURE’S WALKDISTRICT 12 / 22549 ALDER CREST
MLS MARKET ACTIVITY (PAST 12 MONTHS)TYPE #LISTINGS SIZE SF SOLD PRICE SOLD PSF DOM
- - - - - -
- - - - - -
- - - - - -
Developer: Mosaic HomesSubmarket: RedmondNumber of Homes: 60HOA Fees: $275 - $310
Sales start Date: Jan ‘00Sales End Date: Apr ‘04Avg. Absorption: 1.2 Units/Month
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61MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC
DISCLAIMER
PROFESSIONAL OPINION.WITH REGARD TO THE CONSULTING SERVICES, REPORTS, PROJECTIONS AND RECOMMENDATIONS PROVIDED BY POLARIS PACIFIC, WHETHER DELIVERED ORALLY OR IN WRITING, THE PARTIES ACKNOWLEDGE THAT THE MATTERS ON WHICH POLARIS PACIFIC IS CONSULTED ARE NOT THE SUBJECT OF A PREDICTIVE SCIENCE AND ARE INSTEAD SUBJECT TO UNFORESEEN MARKET VARIABLES AND CONDITIONS. CLIENT THEREFORE UNDERSTANDS AND ACKNOWLEDGES THAT POLARIS PACIFIC’S PROJECTIONS AND RECOMMENDATIONS ARE SOLELY THE RESULT OF POLARIS PACIFIC’S CONSIDERED OPINION BASED ON POLARIS PACIFIC’S ASSUMPTIONS AND JUDGMENTS PREDICATED ON PAST EXPERIENCE IN LIGHT OF THE RELEVANT DATA STUDIED WITH RESPECT TO THE MARKET CONDITIONS AND THE PROPOSED PROJECT.
USE OF PRODUCT.ALL INFORMATION, DATA, PROJECTIONS AND RECOMMENDATIONS RECEIVED BY CLIENT FROM POLARIS PACIFIC, WHETHER PRESENTED ORALLY OR IN WRITING, SHALL BE SOLELY FOR USE BY CLIENT AND IS/ARE NOT TO BE USED OR RELIED UPON BY ANY THIRD PARTY(IES) WITHOUT THE PRIOR WRITTEN APPROVAL OF
A LEGACY OF LOOKING TO THE FUTURE.A 30-year legacy in real estate sales and marketing is something to be proud of. But at Polaris Pacific, it’s the future that motivates us. It’s why we’re constantly innovating, investing in our people. Always looking up, we specialize in high-density new development leveraging new tools and new technology. Our long-term client relationships with industry leaders helped make us who we are. But by being forward-thinking, we take our relationships to the next level. And by working together, we discover just what, and where, the next level will be. So as we look into the future and continue our leadership in major urban markets, we’re building a Polaris Pacific legacy for the next 30 years.
Clients include Tishman Speyer, Canyon Capital Realty Advisors, Lennar Urban, Emerald Fund, The Pauls Corporation, Oyster Development and Trumark Urban. Geographies include major urban markets such as Northern and Southern California, Arizona, Colorado, Hawaii, Oregon and Washington. For more information on Polaris Pacific, visit polarispacific.com.
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SEATTLE RESEARCH REPORT / SEPTEMBER 2018
MARKET OVERVIEW CURRENTLY SELLING SOLD OUT ABOUT POLARIS PACIFIC 1ABOUT POLARIS PACIFIC
CURRENT PORTFOLIO1001 VAN NESS SAN FRANCISCO, CA 256 RESIDENCES
10131 CONSTELLATION BLVD LOS ANGELES, CA 500 RESIDENCES
1101 WEST MOUNTAIN VIEW, CA 52 RESIDENCES
1111 SUNSET BLVD. LOS ANGELES, CA 576 RESIDENCES
1133 SOUTH HOPE LOS ANGELES, CA 208 RESIDENCES
1150 WILSHIRE LOS ANGELES, CA 100 RESIDENCES
1188 VALENCIA SAN FRANCISCO, CA 49 RESIDENCES
2177 THIRD STREET SAN FRANCISCO, CA 121 RESIDENCES
BLOOM BERKELEY BERKELEY, CA 41 RESIDENCES
75 HOWARD SAN FRANCISCO, CA 118 RESIDENCES
8TH & CHERRY SEATTLE, WA 204 RESIDENCES
950 TENNESSEE SAN FRANCISCO, CA 129 RESIDENCES
ARTESIA SCOTTSDALE, AZ 308 RESIDENCES
CONTOUR ON CAMPBELL PHOENIX, AZ 111 RESIDENCES
ELEV8 BELLEVUE, WA 395 RESIDENCES
LATITUDE POINT RICHMOND, CA 316 RESIDENCES
LUMINA SAN FRANCISCO, CA 656 RESIDENCES
MAKALI’I AT WAILEA MAUI, HI 68 RESIDENCES
MARINA BAY RICHMOND, CA 87 RESIDENCES
OPTIMA KIERLAND SCOTTSDALE, AZ 220 RESIDENCES
SILVERY SQUARE SAN JOSE, CA 643 RESIDENCES
TEN50 LOS ANGELES, CA 151 RESIDENCES
THE ALEXANDRIA SAN FRANCISCO, CA 43 RESIDENCES
THE ASHTON BELMONT, CA 73 RESIDENCES
THE BUNGALOWS SAN LORENZO, CA 53 RESIDENCES
THE EMERALD SEATTLE, WA 265 RESIDENCES
THE PACIFIC SAN FRANCISCO, CA 76 RESIDENCES
THE QUARRY RICHMOND, CA 186 RESIDENCES
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•
Miles Garber VP Research
T 415.361.4805 [email protected]
Northern CaliforniaHeadquartersSan Francisco850 7th StreetSan Francisco, CA 94107T: 415.361.4800
polarispacific.com
Southern CaliforniaLos Angeles777 S. Figueroa StreetSuite 2520Los Angeles, CA 90017T: 213.410.2880
Pacific NorthwestSeattle800 Fifth AvenueSuite 4100Seattle, WA 98104T: 206.485.2200
SouthwestArizona2390 E. Camelback RoadSuite 130Phoenix, AZ 85016T: 602.753.9595