Market Updates
Seattle Condo Market Update – Nov 2007
Lets start with the bad news first. The median price for Seattle condos fell for the third consecutive month; it now stands at $305,000, a 3.3% decrease compared to October. And, as we’d expect with cyclical patterns, fewer condos were sold last month, though pendings transactions remained unchanged. The good news? Overall, Seattle’s condo market…
Seattle Condo Market Trends
Where is the Seattle condo market heading? There’s lots of speculation but no one knows for sure. Though, we can look at what the market has done this past year. Before we get into that, I just wanted to comment on reports we’re hearing from the media. Most articles that reference Seattle, namely national reports,…
Seattle Condo Sales Performance – October
The good news about Seattle’s condominium market is that market values continue to reflect a strong increase over 2006. City-wide, the median sold price in October was $318,500, an 11.4% increase over October 2006. Queen Anne and Capitol Hill also reflected double-digit median price increases over the prior year as well. As has been the…
3rd Quarter Market Results
City-wide, the condo market remains stable and is outperforming 2006 levels. Compared to 3rd Quarter ’06, condo sales are up 4.9% while the median price increased a respectable 7.7% to $323,000. A few neighborhoods showed decreases in unit sales while others like Ballard & Greenwood reflected significant growth due to sales at new construction &…
July Condo Market Update
The Queen Anne and Downtown/Belltown condo market exhibited healthy gains amidst a transitioning market place which helped buoy city-wide results. The median Seattle condo price increased 6.1% over July ’06 and 4.3% over June even with fewer closed sales. Condos also sold faster in July with average days on market of 41 days, the second…
2nd Quarter 2007 Condo Update
With the exception of Northeast Seattle, the 2nd quarter 2007 figures exhibit an active condo market and healthy growth rate, compared to the same period last year. City-wide, the median price increased 8.4% with a 23.2% increase in units sold. However, not reflected in the figures below was a 46% increase in city-wide new listings…
June Seattle Condo Market Update
Seattle’s condo market continued to show growth through June. Compared to a year ago, city-wide median prices for condos increased 9.9% to $301,950 along with a 6.5% increase in closed unit sales. Queen Anne, Capitol Hill, North Seattle and West Seattle realized a double-digit increase in median price over the prior year. While the year-over-year…
May Seattle Condo Market Update
May continued to exhibit an active condo market with double digit increases in units sold city-wide. Interestingly, NE Seattle and West Seattle showed the greatest increase in unit sales, mostly attributable to a robust resale market. City-wide, condos appreciated approximately 6% based on average sales price. However, across the board, median prices took a tumble…
Entry-Level Inventory Shrinkage
The Seattle Times recently had an interesting graph on the availability of entry-level condos over the past 15 years. The last few years have seen a drastic decrease in sub $200,000 properties. The majority of buyers that my team and I work with are first-time homebuyers and we definitely feel the squeeze. In fact, under…
April Condo Market Update
Month to month results from March to April, were less than stellar. Citywide, condo sales increased 7.8% with downtown seeing a 82% increase in sold units compared to March. However, sold prices remained flat overall. In a few core neighborhoods, prices reflect a downturn from the previous month. Compared to a year ago, the Seattle…
