Market Updates
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…
Seattle Condo Market Update
First Quarter Condo Market Performance Seattle’s first quarter 2007 condo sales figures exhibited a healthy market performance compared to the same period last year. The chart below shows Sold information for city-wide condo sales as well as selected downtown core neighborhoods. March 2007 Condo Market Performance The one month figures from February to March…
More Market Info – NWMLS March Update
The NWMLS March update press release is out and it does confirm a strong start for the year, especially for the condo market. Figures for February show system-wide gains in both pending sales (offers made and accepted, but not yet closed) and sales prices compared to a year ago. Results were mixed among the 19…
February Condo Market Update
February rebounded from a slow January start with condos in Seattle’s core neighborhoods realizing healthy increases, based on median sold prices. Though, average sold prices did take a tumble. While I didn’t include it in the chart, the number of closed sales increased in February compared to January. Source: NWMLS, Information deemed accurate but not…
Seattle Core Neighborhood Condo Market Trends
Here’s some information readers may find useful. I’ve highlighted market trend activity for three core neighborhoods – Downtown, Capitol Hill and Queen Anne – as this is were the bulk of condos and lofts are located. Click on link below. There are three graphs for each neighborhood: Condos for Sale, Sold & Pending Average Price…
2006 Condo Appreciation – Seattle
2006 Condo Appreciation rates for selected Seattle neighborhoods as compared to 2005. Overall, 2006 was quite healthy for Seattle condos and many people who sold their units did well. Though, Queen Anne, surprisingly didn’t fare as well. Notes: Data compiled upon NWMLS sold listings. Data does not include for-sale-by-owner or closed pre-sale activity that were…
2007 State of Downtown
The Downtown Seattle Association (DSA) held its 2007 State of Downtown Economic Forum on Feb. 9th providing an overview of current and future downtown livability issues, planning and development. The forum focused on four areas of commerce – the commercial market, residential market, transportation and tourism and was highlighted by featured speakers, Chris Ludeman, CEO…
January Condo update from the NWMLS
Per the January 2007 NWMLS market release: That condominiums are becoming an attractive option for more buyers is underscored by some of the statistics: In King County, condos accounted for more than 29 percent of last month’s pending sales. The median price for January’s closed sales of condos in King County was $274,900, up $45,000…
King County Growth Report
The NWReporter, a publication of the Northwest MLS, reported on findings from the 2006 King County Growth Report. Among the information pertaining to the economy and real estate market include: Strained housing affordability and traffic congestion seem to be the inevitable consequences of the desirability of King County as a place to live and do…
