October 2017 Seattle Condo Update
Historically, Seattle experiences a bump in real estate sales during October (between the end of summer and start of fall) and this year was no different.
The number of closed condo sales increased with the citywide median sales price rising 13.73% over last October to $472,000, which very nearly matched the all-time high of $475,000.
All Seattle neighborhoods realized year-over-year increases in median sale prices by double digits (see table at bottom of article).
Seattle condo inventory trended downwards by 20.6% to 189 units compared to last year, while the inventory supply rate reduced slightly to 0.7-months of supply.
Seasonally, we’ll continue to see fewer active condo listings as we round out the year.
The number of pending sales transactions reduced slightly to 284 units, a 2.4% dip from a year ago, but essentially unchanged from last month.
Closed Seattle condo sales rose to 287 units reflecting a one-month and year-over-year improvement of 14.3% and 2.1%, respectively.
Source: NWMLS. Some figures were independently compiled by SeattleCondosAndLofts.com and were not published by the Northwest Multiple Listing Service.
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