For some condo buyers, square footage and views are absolute musts, but for others, the real deal breaker is whether or not the place has parking. However, nowadays, parking is becoming somewhat of a luxury not everyone can afford.
Windermere’s very own Edward Krigsman was interviewed by King 5 News, saying that, “In Seattle … there were six or seven sales of deeded parking spaces in the last 12 months, and they’ve sold anywhere from $20,000 to $50,000 depending on the location.” He also said that higher-end condominiums downtown in the urban core can fetch $50,000 for a parking spot. In Queen Anne or Capitol Hill, that can be in the $30,000 range. These numbers range depending on if the spot is in a garage, is covered, or is unsecured.
It looks like people are more than willing to pay for the convenience; knowing every time they leave home they have a parking spot to come back to. For those that don’t heavily rely on a car and don’t like to fret over parking, car-sharing and ride-sharing services like Uber, Lyft, and Car2Go are solid replacements.
Watch the entire King5 News story here.