Belltown Zip Code: 98121
Belltown Area Code: 206
Belltown Seattle General Info
If you’re looking for a Belltown Seattle condo, there can be a lot to know. Why would anyone want to consider living in Belltown? Convenience! Living in a Belltown condo affords you many amenities. There are numerous restaurants, nightclubs, bars, and bistros within a five minutes walk. Pike Street Public market is only a few minutes away.
Belltown Seattle real estate is hot right now. There are many new condo developments going up. A well placed Belltown Seattle condo offers an excellent view of Downtown, Elliott Bay, and the Olympic Mountains.
Belltown Condo – Market Snapshot
Because of the convenience and views, a Belltown Seattle condo is in very high demand. However, Belltown hasn’t always been a hot spot. The neighborhood went through a major transformation process during the mid 90’s due to the dot com boom. Most people involved in this boom worked, lived, and played in Belltown. Many new condos were built ranging from tiny studios to giant penthouses. As of April of 2007, the average days on market for Belltown condo was 77. The median is 48 days.
Belltown Condo – General Info
As of 3.14.07 there are 630 condo units available in Belltown Seattle. The average year built for these condos is 1981. The average Belltown condo is 873 square feet in size. All 630 of these condos in Belltown are in buildings that are over three stories tall.
Belltown Condo Ownership
The average length of ownership for a Belltown Seattle condo is 7.1 years. This lengthy ownership is what helps keep condo prices in Belltown high. Of the 630 condos, 273 of them have been owned for five years or less. For condos that have been owned between five and ten years, the count is 144. There are 157 condos in Belltown that have been owned for more than ten years.
Other ownership statistics for a Belltown Seattle condo are that 376 of these condos are “owner occupied”. The remaining 254 Belltown condos are not.
So far in 2007, there have been ten condos sold. This represents less than 10% of the condos available. The average price so far this year for a Belltown Seattle condo is $539,940. The lowest price this year was $235,000 and the high price was 2.2 Million. The average price per square foot for 2007 is $619.
In 2006 there were 42 condos sold in Belltown Seattle. This represented a 7% turnover rate for the neighborhood. The average price for a Belltown condo was $449,637. The low price was a meager $172,000 and the high price was 1.8 Million. The average cost per square foot was $467.
In 2005 there was a six-year high of 59 condos sold in Belltown. These 59 condos represented a 9% turnover rate for the neighborhood. The average price for Belltown Seattle condo during this year was $396,541. The lowest price was $119,000 and the highest price being $925,000. The average price per square foot was $433.
Belltown Condo Assessed Values
Currently there are 529 condos with assessed values under $502,000. This represents 84% of the condos available in Belltown. During the past 12 months 43 of the condos sold in Belltown had an average selling price of $366,012. This average selling price for a Belltown Seattle condo was “on average” 1,294% greater than the assessed value.
There are 84 condos ranging in the assessed values of $502,000 to $1,002,000. There were five of these sold during the past 12 months. The average selling price for a Belltown condo was $977,250. This average selling price was 140% greater than the assessed value.
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