Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Seattle Condo November 2013 Market Report

By on December 8, 2013 in Feature, Market Updates with 1 Comment

November’s real estate activity exhibited another stellar month for Seattle’s condo market resulting in improved sale prices and unit sales volume.

The citywide median sale price reflected a double digit increase of 17.18% over last November to $286,500. The Queen Anne, Magnolia and North Seattle neighborhoods realized year-over-year increases in their median sale prices as well, with the downtown core, central and West Seattle seeing the opposite.

Seattle Condo Median Price Change Nov 2013
Seattle Condo Median Price Nov 2013

The citywide median sale price dipped from the prior month by 4.5%, though that is too be expected with the cyclical market slowdown during the last quarter of the year due to the holidays and weather factors. Historically, sales activity and prices drop in November and December.

With that said, the velocity of condo unit sales slowed in November resulting in a 22.9% dip in the number of pending sales transactions to 215 unit. However, that still outperformed last November by 2.9%.

Seattle Condo Pendings Nov 2013

The number of closed condo sales also reflected a solid year-over-year improvement of 6.2% to 172 units. Compared to the prior month, closings slowed by 24.2%, however.

Seattle Condo Closed Sales Nov 2013

The number of available of Seattle condo properties for sale constricted to 405 units, a reduction of 6.5% from last November and 17.7% from the prior month.

Seattle Condo Market Activity Nov 2013

Seattle’s condo inventory supply rate remained unchanged given the limited inventory and relatively strong sales activity. At a 1.9-month supply rate, it’s still a strong seller’s market in Seattle.

The market should reflect similar results in December as well – fewer sales and overall lower median sale prices. However, the market should continue to outpace last year’s velocity.

Seattle Condo Inventory Supply Rate Nov 2013

Seattle Condo Market Update YOY Nov 2013

Source: NWMLS. Some figures were independently compiled by 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 Twitter and Facebook. .


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  1. Alex says:

    This is an awesome blog on the Seattle market. I love the niche you have with condos and metro properties.

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