No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.
Seattle, Washington, has experienced a luxury condo boom in recent years, with a number of new projects coming onto the market. This trend is reshaping the downtown Seattle real estate market in a number of ways.
This guide provides an overview of the Seattle luxury condo market and the surrounding area, as of 2024. It covers popular condominiums, current trends related to features and amenities, and other factors relevant to home buyers.
Sleek towers of glass and steel are redefining the Seattle skyline. Luxury condos are springing up in neighborhoods across the city, offering panoramic views, lavish amenities, and price tags to match.
But the ongoing surge in luxury condo development isn’t merely a construction trend. It’s being driven by a mix of economic, demographic, and lifestyle factors.
The Seattle area’s tech industry, anchored by companies like Amazon and Microsoft, has attracted a wave of well-paid workers seeking an urban lifestyle. And for some of them, a luxury condo within walking distance of their workplace becomes the ideal choice.
But it’s not just tech workers driving the demand for luxury condos in the Seattle area. As you’ll soon see, there’s a mix of condo home buyers purchasing these units.
People are quick to name “tech workers” as a driving force behind the luxury condo boom in downtown Seattle. That’s true to an extent, but it doesn’t tell the full story.
Empty nesters, downsizers, and professionals of all stripes seek the energy of city life with the minimal upkeep of a luxury condo. Common perks like rooftop pools, concierge services, dog parks, and state-of-the-art fitness centers sweeten the deal, creating a resort-like feel within the urban core.
Affluent Tech Professionals: High-earning individuals working at major tech companies like Amazon, Microsoft, or other top employers. They prioritize walkability to workplaces and downtown amenities, along with a low-maintenance lifestyle and tech integration.
Empty Nesters & Downsizers: Older buyers seeking to downsize from larger homes while retaining a prime city location and cultural access. Their lifestyle often prioritizes travel and experiences, rather than time-consuming property upkeep.
Investors: Both domestic and international investors recognize Seattle’s strong economy and growth potential. They view luxury condos as stable investments and rental income generators with potential for value appreciation.
Second Home Buyers: Wealthy individuals who want a comfortable and stylish base in Seattle while maintaining a primary residence elsewhere. They enjoy the local culture and natural beauty, but on a temporary basis.
This list isn’t exhaustive. Even within these groups, motivations for buying a Seattle luxury condo can vary widely. But this list provides a good starting point for understanding the general appeal of luxury condos in downtown Seattle.
Here’s a quick overview of some prominent luxury condo buildings in downtown Seattle, along with their key features.
Note: This isn’t an exhaustive list. Some other noteworthy buildings include Luma, Kiara, and the Four Seasons Private Residences. Condo features and amenities can change over time.
The Seattle luxury condo market has evolved over the years to reflect consumer demand and interests. Today, developers offer a wide range of sought-after amenities to attract buyers to their buildings, like the following features:
Thinking about buying a Seattle condo in 2024? Here are some due diligence checkpoints to perform before making a selection.
The downtown Seattle luxury condo market is currently seeing a boom, with many flocking to the city’s core to take advantage of what urban condo living has to offer. But there’s a lot to consider before you buy a luxury condo in Seattle. To better prepare yourself, be sure to partner with a team of real estate and mortgage professionals, and get pre-approved for a luxury condo to ensure you’ve budgeting accordingly.
Need financing? Located in the Seattle metro area, Sammamish Mortgage offers a broad range of mortgage financing options for condo buyers. Please contact our staff with your questions or to apply for a loan.
Whether you’re buying a home or ready to refinance, our professionals can help.
{hours_open} - {hours_closed} Pacific
No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.