Managing Broker | President
206.947.5053 | Lloyd@anomalyco.com
Broker | Account Executive
206.773.6655 | Rebecca@anomalyco.com
SUMMARY OF QUEEN ANNE MARKET
After a heavy supply wave that in the beginning of the cycle, Queen Anne has recovered well and vacancies are lower than the metro average. Developers are taking notice and more high-end supply is slated to deliver over the next few years, mostly in Lower Queen Anne, a neighborhood that has been dubbed "Uptown" by some.
Despite relatively high rents, the submarket still offers a discount to surrounding areas like Downtown Seattle and Lake Union. There has been a sizeable supply boom in the submarket and it has kept rent growth among the lowest in the metro this cycle. Price appreciation is evident, and sales volume in 2017 was a banner year mostly made up of smaller properties. Transactions are off to a great start in 2018, with first quarter volume exceeding $70 million thanks to two large institutional deals and several other high-end properties trading in subsequent quarters.
372 Aloha St, Seattle, WA 98019