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.