Lofts and Condo’s in Seattle.

Request a copy of the most recent Annual Loft Report. The Annual Loft Report is designed and produced exclusively by Heather Morford and the Urban Living Seattle Associates team. The report provides all of the sales prices and market information for loft buildings in the metro Seattle area. Send us an email to request your copy.

Seattle’s Current Loft Housing Market

As of fall 2006 the available inventory of current lofts for sale is very low while the outlook for new construction loft inventory is good. With very few historic brick loft buildings in Seattle, the old world warehouse style lofts are in demand. Many new projects announcing “lofts” are not really “true lofts” but rather a hybrid of an average condominium building with flexible floorplans and/or higher ceiling heights. Overall in the Seattle market so far in 2006, lofts comprised less then 12% of the available inventory.

On average since the begining of 2006 there may only be 1-2 loft spaces available in any one price range at a time. The key to finding a loft space is being persistent, knowing what you want, being realistic on the size and price of what fits into your budget and working with an agent who specializes in lofts, like the Urban Living Seattle Associates Team. E-mail Us to find out what is on the market right now in your price range.

Lofts

What is a Loft? According to Princeton, the noun “loft” has 3 meanings
1. loft - - (floor consisting of a large un partitioned space over a factory or warehouse or other commercial space)
2. loft - - attic, garret - - (floor consisting of open space at the top of a house just below roof, often used for storage)
3. loft - - pigeon loft - - (a raised shelter in which pigeons are kept)

Not quite what most people think of when they say “loft” around Seattle. Seattle has developed a rather interesting viewpoint of “lofts” and now that there seems to be a trend towards them, everyone is jumping on the bandwagon and deeming their nice new average feature condo with high ceilings a “loft” space. While this we won’t argue that some of the new high ceilings and unique floor plans offer flexible living space and hold some interest, our description of a loft is a little more specific. A flexible living space with an open floor plan, higher than average ceilings (15′), exposed brick/wood or concrete, raw materials and a “loft” space off of the main living floor (multi-level and multi-use space).

While there are warehouse buildings and commercial spaces in Seattle that have residences above them, the spaces are traditionally smaller than most east coast warehouse”lofts” and most Seattle lofts have been updated with everyday necessities such as kitchens, bathrooms and laundry. There are new buildings coming on the scene in Seattle that are following the trend towards an “industrial style ” with an “unfinished look” including exposed beams, concrete floors and walls of windows. A perfect example of this is the Union Street Lofts in Capitol Hill. The builder went out on a limb and blended extreme style and materials for a stunning building. Each loft space has a wall of windows that is on a garage door pulley to open the living space to the elements. Loaded with industrial elements; exposed pipes, modular kitchens, concrete flooring and stone slabs, the building is a AIA award winner. These newer buildings have the benefits of flexible living space, high ceilings, huge windows and the conveniences of energy efficient design and state of the art kitchens and bathrooms. There are new projects planned around the Klee in BelltownSeattle for more “loft” style buildings and there are already people wanting to get onto the waiting lists.

Most lofts in Seattle are considered condominiums and will be “disguised” under these terms. Because many of the buildings in Seattle have restrictions about posting signs on the property it is hard to tell where the lofts are and if they are for sale. Heather Williams specializes in lofts and has the market and building knowledge that is needed when searching for a flexible living space. Whether seeking a work/live artist loft or a new industrial design with high-tech features, you’ll need an Urban Residential Specialist like the team at Urban Living Seattle Associates to help you find the perfect space. Make an appointment with us to talk about your next loft.

Loft Buildings in Seattle (this is not a comprehensive list but more to give you an idea of locations)
Average prices in 2004 for Lofts in metro neighborhoods range from $230K to 1mil+ Average square footage for a $230K (600 square feet), $400K (900 square feet), $550K-700K (1000 - 1300 square feet) **These are only estimates based on market knowledge of sales in 2004 and many change with building and design.