Seattle: Luxury Condos Dropping Prices

The Seattle Times headline: Prices cut at Seattle’s luxury condo towers as housing market cools
July 24, 2022 at 6:30 am Updated July 24, 2022 at 6:45 am…

Not even panoramic water views, a round-the-clock concierge and on-demand Tesla rentals can dodge a slowing real estate market.

The Emerald, a 40-story luxury condo tower two blocks from Pike Place Market, recently trimmed prices on some of its condos by 10% to attract buyers hit by rising interest rates and economic malaise.

Nearby, at the Spire in Belltown, buyers drawn in by the rooftop fitness room or the fully automated parking system can get a discount, too. The building is offering a year’s worth of homeowners association fees and credits of up to $15,000 toward closing costs or buying a cheaper interest rate from their lender.