Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Downtown Market Update

July saw an increase in condo inventory in the Downtown, Belltown & Pioneer Square areas from 89 to 131 active listings. Pending sales also increased 8.9% from 35 to 39. Interestingly, with the increased inventory, buyers had more choices and it resonated with them as the average days on market fell from 78 to 52 days. Additionally, 76% of newly listed units were sold within 20 days upon coming on the market (however, new construction presales listed in the MLS may have accounted for this).

The average sale price reduced slightly ($466,500 to $463,700) with the average sale price approximately 2% less than the list price. On the other hand, the median price increased 4% to $416,000. The total dollar volume of all closed sales dropped from $18,195,600 in June to $12,056,400 in July.

Source – NWMLS. Information deemed accurate but not guaranteed.

Tags: , ,

About the Author

About the Author: Ben Kakimoto is a Seattle condo and urban real estate marketing & listing specialist. Contact Ben to learn more about the Seattle condo and loft real estate market or about buying or selling a Seattle area condo. Find Ben on Google+, Twitter and Facebook. .

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

There is 1 Brilliant Comment

Trackback URL | Comments RSS Feed

Sites That Link to this Post

  1. Seattle Housing Buzz » Blog Archive » Downtown Condo Update | August 1, 2006

Post a Comment

Your email address will not be published. Required fields are marked *

Top