thepolaris pacific report€¦ · 02 seattle research report / september 2018 market overview...

SEPTEMBER 2018

SEATTLE

THEPOLARIS PACIFIC REPORT

MARKET OVERVIEW / 01CURRENTLY SELLING / 08SOLD OUT / 16ABOUT POLARIS PACIFIC / 62

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

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

02



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

03



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

04



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

05



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


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


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


06



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

07



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

08



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


TOTAL PROJECTS 5 5 5

TOTAL RESIDENCES 874 874 1,126

TOTAL UNSOLD RESIDENCES 305 305 236

09



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

10



PROJECT INFORMATION Developer: Da-Li International

Submarket: International District


HOA Fees: $300 - $860

CURRENT STATUSDate on Market: September 2018


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



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

11



PROJECT INFORMATION Developer: Intracorp

Submarket: Bellevue


HOA Fees: -



In Contract: 0 (79 reservations)

Closed: 0


AMENITIES • Private courtyard

• Club room

• Rooftop deck

• Fire pit

• Dog run



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

12


OVERVIEW PRICING COMPS BELLEVUE PIPELINE TRENDS APPENDIX ABOUT POLARIS PACIFIC

PROJECT INFORMATION Developer: BOSA

Submarket: Bellevue


HOA Fees: $600 - $2,450



In Contract: 124

Closed: 0


AMENITIES • Indoor pool

• Fitness center

• Yoga studio

• Steam room

• Sauna

• Golf simulator

• Resident lounge

• Children’s playroom

• Pet retreat

• E/V charging stations


• Outdoor terraces

DESCRIPTION One88 is located at the intersection of Bellevue Way and Second Street in Downtown Bellevue.

ONE88DISTRICT 10 / 10429 NE 2ND ST


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

13




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


HOA Fees: -

CURRENT STATUSDate on Market: November 2015

First Close of Escrow: -

In Contract: 22

Closed: 54


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

14



PROJECT INFORMATION Developer: SolTerra

Submarket: Capitol Hill

Number of Homes: 45

HOA Fees: -



In Contract: 0 (24 reservations)

Closed: 0



• Outdoor lounge

• BBQ area

• Dog run

• Green roof

• Six-story art wall

FINISHES • Bosch appliances

• Hardwood floors


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

15




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



• 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

16



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

17




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


HOA Fees: $420 - $765


Sold Out Date: March 2017

In Contract: 0

Closed: 698


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

18




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


HOA Fees: $350 - $1,000

CURRENT STATUSDate on Market: July 2015

Sold Out Date: November 2016

In Contract: 0

Closed: 168


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

19



VIK BALLARDDISTRICT 7 / 1760 NW 56TH STREET

PROJECT INFORMATION Developer: Continental Properties

Submarket: Ballard


HOA Fees: $275 - $415

CURRENT STATUSDate on Market: April 2014

Sold Out Date: June 2016

In Contract: 0

Closed: 117


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.


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 -

20



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


AMENITIES • 24/7 concierge

• Fitness center

• Infinity-edge pool

• Secure storage

FINISHES • Miele appliances

• Sub-Zero refrigerator and wine Cooler

• Kohler bathroom

• Stone countertrops


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.

21



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


22



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

23



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


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


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


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

24



GALLERYDISTRICT 1 / 2911 2ND AVE


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


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


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


- - - - - -

- - - - - -

- - - - - -

Developer: IntracorpSubmarket: DowntownNumber of Homes: 232HOA Fees: $585 - $780

Sales start Date: Mar ‘00Sales End Date: Jun ‘03Avg. Absorption: 5.9 Units/Month

25



THE ELLINGTONDISTRICT 1 / 2801 1ST AVE


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


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


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


Sales start Date: May ‘02Sales End Date: Jun ‘10Avg. Absorption: 1.8 Units/Month

CRISTALLADISTRICT 1 / 2033 1ST AVE


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

26



MOSLER LOFTSDISTRICT 1 / 2730 3RD AVE


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


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


- - - - - -

- - - - - -

- - - - - -

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


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

27



SITE 17DISTRICT 1 / 2440 WESTERN AVE


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


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


Sales start Date: Aug ‘04Sales End Date: July ‘09Avg. Absorption: 2.0 Units/Month

THE FLORENTINEDISTRICT 1 / 526 1ST AVE


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


- - - - - -

- - - - - -

- - - - - -

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

28



TRIODISTRICT 1 / 3104 WESTERN AVE


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


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


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


- - - - - -

- - - - - -

- - - - - -

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

29



ONE PACIFIC TOWERDISTRICT 1 / 2000 1ST AVE


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


- - - - - -

- - - - - -

- - - - - -

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


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


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

30



CARBON 56DISTRICT 1 / 2015 TERRY AVE


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


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


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

31



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


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

32



HIGHPOINTDISTRICT 2 / 2800 SW RAYMOND ST


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


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


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


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

33



THE VERGEDISTRICT 2 / 3213 HARBOR AVE SOUTHWEST


- - - - - -

- - - - - -

- - - - - -

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


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

34



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


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

35



THE MERIDIANDISTRICT 3 / 1420 TERRY AVE


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


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


THE PRESSDISTRICT 3 / 1610 BELMONT AVE


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


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

36



BOLERODISTRICT 3 / 1323 BOREN AVE


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


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


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


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

37



MODEDISTRICT 3 / 752 BELLEVUE AVE


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

38



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


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

39



BRAEBURNDISTRICT 4 / 1420 E. PINE ST


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


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


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


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

40



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


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

41



MARSELLEDISTRICT 5 / 699 JOHN ST


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


PORTAL OVER LAKE UNIONDISTRICT 5 / 655 CROCKETT ST


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


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


- - - - - -

- - - - - -

- - - - - -

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

42



RUBYDISTRICT 5 / 2960 EASTLAKE AVE EAST


1-BED AVGS 8 737 $396,062 $540 15

- - - - - -

- - - - - -

Developer: Barrientos Submarket: EastlakeNumber of Homes: 52HOA Fees: $330 - $335


43



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


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

44



ATHENADISTRICT 6 / 323 QUEEN ANNE AVE NORTH


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


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

45



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


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

46



CANAL STATIONDISTRICT 7 / 5440 LEARY AVE


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


HJARTADISTRICT 7 / 1530 NW. MARKET ST


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


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


- - - - - -

- - - - - -

- - - - - -

47



COBRIZODISTRICT 7 / 4020 AURORA AVE NORTH


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

48



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


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

49



REGATADISTRICT 8 / 1700 N. NORTHLAKE WY


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


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


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


- - - - - -

- - - - - -

- - - - - -

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

50



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


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

51



BLAKELEY COMMONSDISTRICT 9 / 2901 NE. BLAKELEY ST


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


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


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


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

52



FLORERA GREENLAKEDISTRICT 9 / 413 NE. 70TH ST


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

53



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


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

54



WASHINGTON SQUAREDISTRICT 10 / 10610 NE. 9TH PL


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


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


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

55



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


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

56



KIRKLAND CENTRALDISTRICT 11 / 211 KIRKLAND AVE


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

Developer: Seventh AvenueSubmarket: NorkirkNumber of Homes: 58HOA Fees: $90 - $330


LOCHSHIREDISTRICT 11 / 9229 122ND CT


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

57



VILLA SONOMADISTRICT 11 / 8244 126TH AVE


- - - - - -

- - - - - -

- - - - - -

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

58



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


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

59



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


- - - - - -

- - - - - -

- - - - - -


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

Developer: Mosaic HomesSubmarket: RedmondNumber of Homes: 85HOA Fees: $255 - $295

Sales start Date: Jan ‘02Sales End Date: Dec ‘08Avg. Absorption:

60



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


- - - - - -

- - - - - -

- - - - - -


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

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


- - - - - -

- - - - - -

- - - - - -

Developer: Mosaic HomesSubmarket: RedmondNumber of Homes: 60HOA Fees: $275 - $310


61


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.

62


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

•

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

thepolaris pacific report€¦ · 02 seattle research report / september 2018 market overview...

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