Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

July Condo Market Update

By on August 11, 2007 in Market Updates, Real Estate with 1 Comment

The Queen Anne and Downtown/Belltown condo market exhibited healthy gains amidst a transitioning market place which helped buoy city-wide results. The median Seattle condo price increased 6.1% over July ’06 and 4.3% over June even with fewer closed sales. Condos also sold faster in July with average days on market of 41 days, the second fewest over the past 9 months.

Looming on the horizon is a softening market with the continuing inventory build-up, increasing nearly 86% compared to July 2006. The absorption rate has also been trending upward. However, the July absorption rate of 3.5% is within normal market parameters and the end of summer cyclical market upturn is just around the corner which should result in relative stability over the upcoming months.

Seattle condo market update July 2007

Seattle condo market update July 2007

Source: Compiled from NWMLS data as of 8/11/07; information deemed reliable but not guaranteed.

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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. .

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  1. Brandon says:

    Good looking blog and good information for consumers. Keep up the good work…I wish I knew about blogging sites and tools back when I was in the business. It really makes keeping up a bit easier…good luck with the blog and your business. Cheers.

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