Brix and Gallery Condo Auction Results

This past Sunday a number of our agents attended the Brix and Gallery auction at the Grand Hyatt. We wanted to share the results with all of you because if you’re in the market for a condo, especially in the neighborhoods close to downtown, you should definitely take a look at the results from the auction and consider these prices when thinking about current market values.

Brix had all 36 condos sell that they auctioned off

  • Spreadsheet of the results [xlsx]*
  • 68 minutes
  • ~200 bidders
  • $344 to $500/sq. ft. Average $409
  • 63% to 81% of “previous list”. Average 70%
  • $235k to $471k
  • Redfin stats for Capitol Hill:
    • Aug median list: $405k
    • Aug median list $/sq. ft.: $418
    • Jun sold: 46
    • Jun median sold: $336k
    • Jun median sold $/sq. ft.: $390

Gallery had all 44 condos sell that they auctioned off

  • Spreadsheet of the results [xlsx]*
  • 90 minutes
  • ~250 bidders
  • $309 to $565/sq. ft. Average $439
  • 58% to 81% of “previous list”. Average 68%
  • $243k to $735k
  • Redfin stats for Belltown:
    • Aug median list: $397k
    • Aug median list $/sq. ft.: $491
    • Jun sold: 24
    • Jun median sold: $358k
    • Jun median sold $/sq. ft.: $450

Overall everyone we talked to thought the units sold for a lot more than they expected. Though looking at the results some folks did get a good deal. I suspect Schnizter will be very happy with how things turned out.

*Big thanks to Corey, Chelsea, Earnest and Dave at Redfin Seattle who were a big help in assembling the spreadsheet.

More auction coverage at: