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Downtown Seattle Condo Update - March 2008

March 2008 exhibited a marked improvement for downtown Seattle condo values with the median price rising to $525,000, a 13.3% increase over the same period last year and a 39.6% jump over February.

The good news in property values is tempered by a significant rise in the number of active listings to 343, a 51% increase compared to March 2007. Although pending sales are down, the downtown area has the second lowest decline in pendings at -11%, while closed sales increased 25%. The absorption rate now stands at 6 months.

downtown seattle condo update

Posted by Ben Kakimoto - Seattle Condo Specialist on 04/19/2008 04:44 PM

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