Polaris Pacific Expands Executive Team In Pacific Northwest As Seattle Market Continues Upward Trajectory

SEATTLE, Aug. 28, 2018 /PRNewswire/ -- West Coast condominium sales and marketing company Polaris Pacific has announced its strategic expansion in the Pacific Northwest on the heels of being retained to lead sales and marketing for several notable condominium developments across the region. Considered one of the strongest housing markets in the country, Seattle has seen unprecedented gains with the condominium median sale price increasing 16.3 percent year-over-year to $610,500. High-rise prices have reached $1,010 per square foot, up 23.8 percent since this time last year, according to Polaris Pacific's July 2018 Seattle condo data report. Polaris Pacific will bolster its operations in Seattle by growing its local executive team to support the market's growth. 

"As Polaris Pacific continues to expand across the Western United States, the company is focusing its attention on the ever-growing Seattle market. Seattle's diversified employment base and rapid population growth make the region a prime location for new construction condominium development," said Managing Partner Garrett Frakes. "We are thrilled to partner with our developer clients on some of the most highly anticipated regional projects and look forward to continuing our expansion in a market that is well positioned for long-term growth."

Polaris Pacific has been enlisted to launch sales and marketing for The Emerald, a 265-residence luxury condominium tower in downtown Seattle set to open its interactive sales gallery early 2019, as well as for Shoresmith, a 113-residence building located in South Lake Union by developer Plus Capital Partners. Caydon USA, the developer behind a 226-residence condominium building located at 8^th & Cherry Street in Seattle's First Hill neighborhood, has engaged Polaris Pacific for sales and marketing efforts ahead of its sales launch in 2019. Additionally, Polaris Pacific will lead sales for Mira Flats, a 162-residence development located in Bellevue owned by Intracorp, opening in September 2018.

Project Director Christina Milovancev and Senior Marketing Manager Dana Van Galder have joined Polaris Pacific's Vice President, Regional Manager Josh Nasvik to assist in managing sales and marketing initiatives for Polaris Pacific's Pacific Northwest region.

"Given the growth potential we are seeing in the Seattle condo market, welcoming Christina and Dana to our Seattle team is instrumental in continuing to provide exemplary service to our clients," said Vice President, Regional Manager Josh Nasvik. "As Seattle leads the Pacific Northwest in job creation and population growth, demand for new construction housing will excel at a similar pace."

According to Polaris Pacific's July 2018 Seattle condominium market report, Seattle has just 1.4 months of available inventory, far less than what is considered a balanced market of six months of supply. With an average of 12 days on market, demand for condominiums is significantly outpacing supply. At the same time, sales of resale condominiums were up 17.8 percent from the prior year, with 1,446 sales recorded in the three-month period ending June 30.

About Polaris Pacific
Polaris Pacific is the leading real estate sales and marketing group for today's high-density residential communities. Drawing on a 30-year legacy of success in the Western United States, Polaris Pacific specializes in new development, leveraging the latest tools and technology to create a clear path forward. Long-term client relationships with industry leaders provide the company's platform for innovation, establishing Polaris Pacific as the irrefutable expert in major urban markets. For more information, please visit www.polarispacific.com.

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SOURCE Polaris Pacific

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