This past Saturday, March 18th, there was a line that stretched around the block for the public sales debut of the highly-anticipated NEXUS condominium project. By closing on the following Sunday, around 75 percent of the 382 condo units available in the 41-story tower had been pre-sold; totaling more than $200 million in sales. This set the new benchmark for sales volume of condominium pre-sales in Seattle; “NEXUS has set a new record for value and velocity,” said Dean Jones, President and CEO of Realogics Sotheby’s International Realty, exclusive marketing and sales representative of NEXUS. “We’ve reached that tipping point where condos have made a comeback given that the prospects for capital appreciation are high and consumers want to lock in their future housing costs.”
According to a recent article by the Puget Sound Business Journal, downtown condo sales have been accelerated in recent months with buyers competing for a limited number of units. In February 2016, there were a total of 86 condos for sale in downtown Seattle, while the number available this month peaked at 43 units. A lack of current and proposed condominium supply has led to high demand for proposed projects such as NEXUS.
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To learn more and see the coverage of the NEXUS public sales event, please visit: The Puget Sound Business Journal | Seattle's condo market came back in a big way this weekend