The Seattle Condo Blog

Seattle’s condo market posted a 6% year-over-year increase in median price last month, with sales and inventory on the rise.

The median Seattle condo price rose to an 11-month high last month as sales activity picked-up considerably.

2009 year end housing and condo sales statistics from the NWMLS. Even in a down year there was nearly $2 billion in condo sales in western Washington.

In 2009 the annualized Seattle condo median price fell 10% from the prior year. While prices declined throughout the city, several neighborhoods realized strong growth in condo values.

December sales volume reflected marked improvement over the prior year, though condo values continued to slide.

Buoyed by the first time home buyers tax credit, condo sales skyrocketed 58.2% last month while the median price dipped.

The Seattle condo market rebounded in October with increases in sales, number of closings and median price, likely fueled by the rush to qualify for the first time home buyers tax credit.

Seattle’s condo market kept churning through September even though the citywide median price fell to $259,250. The number of properties going under contract and closed increased over August, while available inventory and the condo supply rate decreased.

The median Seattle condo price inched up 3.8% to $280,274 last month. Though that’s still below last August’s median price by 9.6%, the year-over-year gap continues to narrow.

Seattle’s median condo price dropped to $270,000 in July; condo sales are showing signs of slowing.