Downtown Condo Sales

Is it true that the downtown condo market is as fast and furious as the Seattle Times reported today?

Recently I have spent a lot of time touring condos with clients, some of them in the million dollar range, and I can say for sure that the prices are a steal compared to several years back and yes, they are selling.

It will be interesting to see what happens to the prices after the current inventory is sold. We will have a shortage of new development in downtown for some time. Will the law of supply and demand come into play and will the prices shoot up?