Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Third quarter 2008 condo market update

By on October 9, 2008 in Condo News, Market Updates, Real Estate with 0 Comments

Third quarter results showed no Earth shattering revelations about the market – prices and sales are down.

Seattle’s condo median price for Q3 2008 was $305,000, down 5.3% from the same period last year. The number of closed sales fell 51.1% while total dollar sales volume dropped 53.3% to $193,339,000.

Year-to-date, the citywide median price remains unchanged at $315,000, though the number of closed sales are off 40.1% compared to the same period last year. So far, prices during the first part of the year were high enough to offset the price declines we’re now seeing. Though, by the end of year I anticipate a decrease in the annual median price figure.

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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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