Keller Williams Greater Seattle

First Quarter 2012 Seattle Condo Report

Seattle’s condo market reflected robust activity through the first quarter of 2012 (January – March). Compared to first quarter 2011, closed condo sales increased 9.2% to 404 units, though the number of closed sales dipped slightly from the fourth quarter 2011 (October – December).

The citywide median sales price for the first quarter 2012 slid 23.5% to $215,000 compared to the same period last year and 8.5% from the prior quarter.

– South and Northeast Seattle reflected highest increase in closed sales, doubling the number of units sold.

– Queen Anne / Magnolia and the downtown area realized fewer sales in the quarter compared to last year.

– South Seattle was the only area in the city that exhibited improvement in the median sales price, while Queen Anne / Magnolia had the largest decline.

However, the market has changed rather significantly over the past 6-8 weeks and the initial numbers for April are showing a considerable improvement over the first quarter figures shown here.

Source: NWMLS. All figures were independently compiled by SeattleCondosAndLofts.com and were not published by the Northwest Multiple Listing Service.

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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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There Are 2 Brilliant Comments

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  1. Jason says:

    Thanks for the data. Sales in our markets are up over 2011 too, and it’s great to hear that our markets aren’t unique. Many of the other blogs I read are reporting similar data. It seems like many of the most popular markets around the nation had a good first quarter. I hope quarter 2 is as good, or better.

  2. Ashu says:

    The data is encouraging at least for 2012 because we are facing a slowdown in this economy.

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