Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

June 2014 Seattle Condo Market Update

By on July 11, 2014 in Feature, Market Updates, Real Estate with 0 Comments

The June Seattle condo market numbers reflected the seasonal summer plateau in the market place. Overall, the figures show across the board improvement including an increase of the citywide median condo sales price to $309,000, a 3.33% year-over-year and a 1.0% one-month rise.

Seattle Condo Median Price Change June 2014
Seattle Condo Median Price June 2014

Excluding February’s $322,500 citywide median sales price, which was more of an anomaly, last month’s Seattle condo median sales price was the highest since February 2011.
Seattle Condo Median Sales Price

The number of available Seattle condo units for sale remained flat compared to last June, though it did increase from May by 1.9% to 483 units. The condo inventory supply rate inched up slightly to 1.6-months of supply based on pending transactions. Still very much a seller’s market.

The figures above does not include the under construction presale units at Vik and Insignia, where there are approximately another 300 units between those two.

Seattle Condo Activity Stats June 2014

Seattle Condo Inventory Supply June 2014

Compared to the same period last year, the number of pending transaction (accepted offers) rose by 3.7% to 310 units, though that was 5.2% fewer from the month before. This is to be expected as the market typically plateaus during the Summer season.

Seattle Condo Pending Sales June 2014

The number of closed condo sales increased to 242 units, a 3.9% and 1.7% bump from the prior year and month, respectively. The number of closings will taper off as the pending sales volume declines.

Seattle Condo Closed Sales June 2014


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Source: NWMLS. Some figures were independently compiled by and were not published by the Northwest Multiple Listing Service.

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