The start of the New Year heightened the frenzied pace of Seattle’s condo market with rising values as demand continues to outpace supply.
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The Seattle condo market experienced another phenomenal year of growth in unit sales and condo values in 2016.
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.
Effective January 27, 2017 FHA is reducing its mortgage insurance premium rate saving buyers hundreds of dollars annually. Though, it’ll provide a negligible benefit for Seattle condo buyers.
Seattle Condos and Lofts