Seattle’s condo market tightened further in February with near record high values and limited inventory supply.
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The start of the New Year heightened the frenzied pace of Seattle’s condo market with rising values as demand continues to outpace supply.
The Seattle condo market ended on a high note to close out the year with a bump in the median sales price to $426,000 even as unit sales activity slowed for the holiday season.
The Seattle citywide condo median sales price increased 11.53% last month amid slowing sales and declining inventory.
The Seattle condominium market continued to perform well with October exhibiting strong sales volume and a 12.77% increase in the median sales price, year-over-year.
The completion of LUMA Condominium on First Hill helped push the median Seattle condo sales price to a new record high even as sales begin to taper off.
Sales activity slowed in August, though a high number of new construction closings contributed to an increase in condo values, particularly in downtown Seattle.
Seattle’s condo prices keep rising even in the midst of the summer slowdown.
June was another banner month for Seattle’s condo market with condo values matching the all-time record high as well as a new record high number of closings.
The Seattle condo market exhibited buoyancy in May with sale activity volume and values.
The cost to sell a home or condo can vary. In the greater Seattle area seller costs typically range between 9% to 10% of the sales price.
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