Jason Foss Properties

The July numbers for West Bellevue condos are in and they are pretty much just a rinse and repeat of June, driven to a large degree by the continuing new construction presale closings at Avenue Bellevue. The average price sold price last month was $1,760,000 (up 14% vs last year) and average sold price per square foot was $1,401 (up 4% vs last year). There were 36 homes sold (up 24% vs last year) and 1.9 months of inventory (down 9% vs last year). I expect these sales numbers will settle back down at some point, but with Avenue presales continuing to close and Mari presale closings starting next month, it may be a few months before we see the sales statistics less impacted by the new construction presale numbers.

Speaking of the Olympics… congratulations to the Lakeside team who went to the AAA Legion tournament in Port Angeles on the Olympic Peninsula and won State (helped along a little by a 5 out save in the championship game by a certain Joe Foss). Off to Billings, MT and regionals. Good luck boys!

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The June numbers for West Bellevue condos are in and the numbers are a bit eye-popping for the middle of summer. With an average price sold price of $1,976,000 (up 92% vs last year), average sold price per square foot of $1,334 (up 59% vs last year), 27 sold homes (up 42% vs last year), and 2.3 months of inventory (down 15% vs last year), you could be forgiven for thinking the June condo market is hotter than the weather outside right now. But you would be incorrect. If you pull out new construction closings, you will see that the resale condo market in June turned in a solid if unremarkable performance, with most sales and pricing metrics roughly flat versus 2023. But the closed sales at Avenue Bellevue (with sales in the Estate tower starting to close) are boosting the metrics for June and will likely continue to do so here into early fall.

So nice we’re doing it twice. We have two great new homes just listed at Bellevue Towers and we will be showcasing both of them tomorrow, Saturday July 13th from 1-3pm.

Home 2503:
2BD + Study I 2.25 BA I 1,765SF I $1,850,000

Home 1211:
1BD + Study I 1.25 BA I 1,348SF I $1,129,000

Come out tomorrow and double your open house pleasure at Bellevue Towers!

 

They don’t make them like this anymore.... And that’s too bad because we could have sold this one several more times. Listed for $1,075,000. Sold for $1,352,000.

My youngest said an RBI and the dub were my Father’s Day gift.

The May numbers for West Bellevue condos are in and the market is showing continued solid activity. Month over month numbers held up well compared with April with sales volumes up (by 10%) and pricing down just a little (off 3% in terms of average price and 6% on a price per square foot basis). Year on year numbers saw double the sales at this time last year, months of inventory down by nearly 50% and pricing up substantially (24% in terms of average price and 18% on a price per square foot basis). 

The only intersection this home sits on is the one where cottage meets cabin. Tucked into a secluded corner of Suncadia, this home designed by renowned architects Thomas Bosworth & Steve Hoedemaker, offers a combination of cozy vibes and sweeping ridgeline views. Congratulations to both buyers and sellers on the off-market sale of this special property! 

It’s a beautiful Memorial Day weekend. Well, at least the forecast is dry and 70 degrees inside the new model home at Ashwood Lane. Come visit us today between 1pm-3pm to check it out!
 

The April numbers for West Bellevue condos are in. Although month over month numbers are a little soft thanks to the closings at Avenue Bellevue slowing down, year over year numbers are still solid with the number of sales level to last year, and both sales prices and sales prices per square foot up compared with a year ago April. Active listings and inventory are both up substantially, however. And keep in mind those numbers are understated due to the fact new construction projects don’t list the majority of the available units. So the market will be reasonably competitive for buyers looking for affordable condos, but buyers interested in more expensive new condos will have lots of choices for the rest of the year. 

We now have move-in ready homes! Come check out our newest listing, Home 11205, along with two others which just got price improvements. And because we have seen rates popping back up recently, we are offering a $50K buyer bonus on our next two sales! 

The March numbers for West Bellevue condos are in and year over year performance is positive, although we are not seeing the kind of multiple offer madness as with the single family market at certain price points and locations. Listings were up 12% compared to last March, but sales were up even more; by a whopping 81% (at least in part due to presale closings at Avenue), and as a result months of inventory fell by 39%. Meanwhile, year-over-year days on market fell 59%, while average price and price per square foot were up 32% and 16% respectively (again partly due to Avenue sales closing). 

This is… not Spinal Tap. It’s Bellevue Towers. But you can still put it up to eleven at Home 1911. A former model home, this plan offers a large, open layout, custom built-ins, kitchen with Viking and Subzero appliances, primary bath with double vanity and oversized shower, plus views of Mt Rainier. Don’t miss this chance to buy an 11. It's one better than a 10!!!

Lake Como or Lake Washington? Enjoy an Italian summer vibe without ever leaving home. Offered at $16,888,000. Live la dolce vita!

 

In post No. 732 of my occasional series called Sometimes It’s Not Always About Real Estate, I would like to complain about articles like this which undermine the faith of Americans in the news media. Cabbage is most certainly not the next bacon. Or the last bacon. Or to be mentioned in the same breath as bacon. It is patently false statements like this in a national paper of record which call into question people’s belief in objective facts about the integrity of our elections, the importance of supporting Ukraine and my weight as stated on my driver’s license. Don’t let bacon be cancelled, or the next thing you know you’ll be eating some leafy vegetable in place of your preferred pork product and then where will all be?

The February numbers for West Bellevue condos are in and there is a lot to love in last month's results. Available listings were up compared to last month and last year, but closed sales were up by even more, keeping months of inventory stable at a relatively low 1.7 months. Meanwhile both average price and price per square foot saw strong increases (49% and 38%, respectively) compared to last year at the same time. 

These boots are made for touring. And that’s just what they’ll do!

Please join us for our dusty boot tour of the FINAL homesite remaining at Grace by Thomas James Homes.

With the pending sale of Home 201, GIS Plaza is just a sale away from hitting the 50% pending and closed sale mark. And with great new pricing on selected homes, we are making it easy to help us get to 100% of halfway sold.
#401: Was $860,000. Now $800,000.
#402: Was $880,000. Now $830,000
#603: Was $650,000. Now $600,000
If you are interested in learning more about GIS Plaza, come visit us this Saturday, March 2nd, between 1pm to 3pm for our open house.

In honor of the start of spring training, I am excited to share that I turned a rare triple play at Bellevue Towers this month with a closed sale, a pending listing and a pending off market sale. If you’re thinking about buying or selling at Bellevue Towers this spring, contact me to ensure your experience will be a home run!

The January numbers for West Bellevue condos are in and the year got off to a strong start. Although active listings are up by over 60% year on year, sales are up 200%  resulting in available months of inventory dropping 45% compared to last year at this time. Pricing on a per square foot basis is also up strongly compared to last year, although as noted previously that is due in part to the closings at Avenue Bellevue. Pending sales were also up which bodes well for closings in February. 

It turns out this was the One! One88 Home 1401 to be exact. It took a couple of tries, but it was worth it in the end, and my clients are excited to start their new life in downtown Bellevue!

 

See more at 11! Home 611 at Bellevue Towers to be exact. This one-of-a-kind expansive two-bedroom condo features a large private terrace on the garden level, extensive built-ins throughout, newer paint, carpet and countertops, plus 2 parking and a large storage unit in the garage. And with newly remodeled amenity spaces, Bellevue Towers offers even more of what you are looking for in your new urban home.

 

The December numbers for West Bellevue condos are in and the market finished the year in a festive mood. Lower interest rates gave a little boost to activity plus closings and pricing per square foot were both way up thanks in part to ongoing closings at Avenue Bellevue. New pending sales were also double the year ago number, which likely means we should see a good month for closed sales again in January.

New Year, new sale, new listing, new pricing, new rate buydown.

Same old fantastic things about living in a thoughtfully designed, boutique, new construction condominium community in downtown Bellevue.

Your new home awaits at Residences at GIS Plaza. 

I got trolled on New Year’s.

Ringing out the old with another home sold… and another pending before the year’s ending. Here’s to many more in 2024!

And, yes, for those of you wondering, in addition to being a poet, I also happen to be a real estate agent.

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Somebody’s getting a condo for Christmas!