This morning KPLU had a story about  high end condo real estate in Seattle and on the Eastside.  Richard Hagar, the appraiser interviewed for the story, called condos priced above $5 million dollars as the high end, and, he says, these condos are in demand. 

 I was curious to know how may condos were for sale on Seattle’s Eastside in this price range and if any had sold.  I checked the MLS and right now there are two condos priced above $5 million, both new construction in downtown Bellevue.

The most expensive condominium home is the penthouse at Bellevue Towers.  It’s priced at $9.2 million with 6397 square feet, 4 bedrooms, and 4.5 baths.

The runner-up is priced at $5.2 million and is located in The Bravern, just a few blocks away.  This condominium home is 3923 square feet and has 3 bedrooms and 3. 5 baths.

How many condominiums on the Eastside are priced between $4-5 million?  2

between $3-4 million?  4

between $2-3 million?  11

between $1-2 million?  75    

How many condominiums have sold in the last 6 months for more than $5 million? none

between $4-5 million? none

between $3-4 million? 3 pending

between $2-3 million?  none

between $1-2 million? 29

Is the high end really above $2 million on the Eastside, not $5 million?  The number of condominiums available above $2 million drops dramatically from the condos available between $1-2 million.  Seventeen condos are priced above $2 million.  There are 75 condos between $1-2 million and 29 are pending or closed sales.  Above the $5 million range, there haven’t been any sales and only 3 condos have sold between $2-5 million in the last six months.

We all know most people cannot afford the million dollar range of homes or condos, but it looks as if there is a high end real estate market between $1-2 million and an “ultra high end” when we talk about the Seattle/Eastside condo market.