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Everyone's gossiping about Downtown Tacoma Condos These Days

Everywhere I go these days, people are asking about the Downtown Tacoma real estate market. “It seems like it’s picking up! Is it picking up?”  The answer is, it depends on the price range and it depends on where we’re talking about.  Over the next couple days I’m going to talk Tacoma (as usual) starting with Downtown Tacoma Condos in 98402.

Right now there are 11 pending condos, half of those are at 505 Broadway, which has been rewarded for its aggressive price reductions with lots of closed sales. It would be great to see The Roberson and The Esplanade (once it’s done being forclosed on and relists as bank owned foreclosures or whatever they decide to do) follow 505 Broadway’s lead and start pricing to sell.

So far this year there are 21 closed condo sales. The median sale price of a condo in downtown Tacoma is $308,415 for 1,214 square feet with a low price of $131,000 for a studio at Cliff Street Lofts and a high of $742,650 for 1,919 square foot palace at 505 Broadway.  Here’s the breakdown:

Sky Terrace 1 Sale

1 bedroom               1 bath          675 sq ft          $150,000

Overlook on Broadway 2 Sales

1 bedroom + Loft    1.25 bath     991 sq ft          $195,000 (Short Sale)

1 bedroom + Loft    1.25 bath     991 sq ft          $230,000

Cliff Street Lofts 2 Sales

Studio                      1 bath          567 sq ft          $131,000 (Foreclosed)

Studio                      1 bath          982 sq ft          $157,000 (Foreclosed)

Marcato 3 Sales

1 bedroom                1 bath          790 sq ft          $215,000

1 bedroom                1 bath         1,053sq ft         $254,000

2 bedroom                2 bath         1,045 sq ft        $309,500

505 Broadway 10 Sales

1 bedroom                1.5 bath       1,354 sq ft       $299,000

1 bedroom                1.5 bath       1,354 sq ft       $299,000

1 bedroom                1.5 bath       1,351 sq ft       $308,415

1 bedroom                1.5 bath       1,354 sq ft       $329,000

1 bedroom                1.5 bath       1,354 sq ft       $329,000

1 bedroom                1.5 bath       1,356 sq ft       $331,000

2 bedroom                2    bath       1,506 sq ft       $579,697

2 bedroom                2    bath       1,506 sq ft       $605,421

2 bedroom                2    bath       1,514 sq ft       $624,684

2 bedroom                2    bath       1,564 sq ft       $640,000

2 bedroom                2.5 bath       1,919 sq ft       $743,650

Galleria                     1 Sale

1 bedroom                1.5 bath       1,059 sq ft       $200,000  (Foreclosed)

Esplanade 2 Sales

1 bedroom                1    bath       1,027 sq ft       $400,000

2 bedroom                1.75 bath     1,684 sq ft       $525,000

If you are looking to buy a loft or a condo in Downtown Tacoma, or are thinking it might be time for you to sell and you have some questions, feel free to contact me.