market report: Seattle Condo Market Trends
- 11/18/07 10:55 AM
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. In comparison to the prior year, the condo market has been the shining star of Seattle's real estate market this year.
There was a decrease in the city-wide condo median price from September to October…does that mean the sky is falling and bargains are to be had? Well, not exactly. The 2007 median price has outperformed 2006 levels all year long. Buying activity increased in October and the median price surpassed … (1 comments)
market report: July Seattle Condo Market Update
- 08/24/07 02:27 PM
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 fewest over the past 9 months. Looming on the horizon is a softening market with the continuing inventory build-up, increasing nearly 86% compared to July 2006. The absorption rate has also been trending upward. However, the July absorption rate of 3.5% is within normal market parameters … (0 comments)
market report: Downtown Seattle Condo Update - June 2007
- 07/11/07 11:40 AM
The downtown Seattle condo market (downtown, Belltown & Denny Triangle districts) remained stable in June. Compared to June 2006, unit sales increased 10.5% and the median price rose 9.2% to $439,500, dipping into single-digit territory. However, downtown, like the region as a whole, is starting to show signs of a softening condo market. Compared to the prior month, median price only rose 2.8% and closed sales decreased 8.7%. With the explosion of new condominium development and increased conversions & iflipper re-sales, the downtown market will become more attractive as it transitions to a buyer's market. … (1 comments)
market report: Queen Anne Condo Update - June 2007
- 07/11/07 11:27 AM
June proved to be a turning point for the condo market in Seattle's Queen Anne neighborhood. For most of the year, the Queen Anne condo market has been stagnant, both in terms of units sold and median prices. Last month the market rebounded with a 13.5% increase in median price to $339,950 compared to the prior year. Additionally, the month-over-month results show respectable median price increase of 6.7% compared to May 2007. Closed unit sales also reflected a modest increase. Of all of Seattle's neighborhoods, Queen Anne has been showing signs of softening throughout the year, so June's results, even if it … (0 comments)
market report: Seattle Condo 2nd Quarter Update
- 07/11/07 11:11 AM
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 for the 2nd quarter 2007 (1,923) compared to the 2nd quarter 2006 (1,317). The increase can be attributed to new construction listings in the MLS, a plethora of conversions hitting the market, investor flips and resales. While I did not include 1st quarter 2007 figures in … (0 comments)
market report: May Seattle Condo Update
- 06/07/07 07:22 PM
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 from the prior month. Inventory has increased helping to create a buyers market, particularly with high-end properties, though I believe interest rates play a role as well. As rates continue to creep upwards, buying power decreases which move buyers to a lower price point. And, though … (2 comments)
market report: March 2007 NWMLS Report - Press Release
- 04/07/07 11:14 AM
Last Month’ s Pending Sales Surpassed February by 16 Percent KIRKLAND, Wash. (April 5, 2007) - With warmer temperatures, the residential real estate market seems to be heating up around Western Washington, according to the latest report from Northwest Multiple Listing Service. Figures released today show its members reported 9,340 pending sales of single family homes and condominiums during March, the highest volume since August 2006, when brokers notched 10,022 pending sales. Inventory continues to rise - and so are prices. Continuing reading the full article at Seattle Housing Buzz. … (0 comments)
market report: March 2007 - Seattle Condo Market Update
- 04/07/07 10:59 AM
The one month figures from February to March 2007 showed a different picture from the First Quarter figures. As expected with seasonal market fluctuation, the number of sales increased in March. However, the core neighborhood values took a hit in March from the prior month. The the decreased property values may raise some concern. Though the one month change, in and of itself, is not as meaningful as trending which reflects upward motion. Price per square foot:
Prepared by Ben Kakimoto, Seattle Condos and Lofts. Source: NWMLS & Trendgraphix. Information deemed reliable but not guaranteed. … (0 comments)
market report: Seattle Condo Market Update - First Quarter 2007
- 04/07/07 10:55 AM
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. Overall, the number of unit sales as well as valuation reflect positive movement in the market. Prepared by Ben Kakimoto, Seattle Condos and Lofts. Source: NWMLS - Information deemed reliable but not guaranteed. … (0 comments)
market report: July Market Update
- 08/07/06 06:50 PM
The Seattle area, despite our record hot temperatures, seems to be cooling on the housing front. Within Seattle, inventory continues to go up resulting in a 20% increase over the previous year. Additionally, Seattle saw a 12.11% decrease in pendings and a 15.55% decrease in closed sales compared to July 2005. Though on a postive note prices continue to rise with a 14.6% increase in median sale price from a year ago. While that appreciation make be great for current homeowners, it continues to place homeownership further out of reach for those who currently rent. Within King County only 7% of … (0 comments)
market report: Capitol Hill Condo Update
- 08/02/06 04:26 PM
July was a great month for condo sales on Capitol Hill with both pendings sales and solds increasing. The number of pending sales increased from 15 to 34 from June to July while solds increased 36 to 50 during the same time period. The number of active condo listings remained the same at 112. The average number of days on market stayed steady at 39 days. However, the number of listings sold within the first 30 days increased from 66.7% to 74%. The average sale price took a slight hit decreasing 3.1% from $351,000 in June to $340,300 in July. However, … (0 comments)
market report: Queen Anne Condo Update
- 08/02/06 04:24 PM
In July, the number of active condo listings (97) and sold listings (53) remained the same as in June, while the number of pending sales increased significantly from 8 to 27 (number of sales that went to pending status during the month). Additionally, the average number of days on market decreased slightly from 36 to 33 days. Both are positive signs that the condo market is still strong on Queen Anne. On the other hand, both average and median prices declined from June to July. The average condo price in June was $320,370 which decreased to $310,542 in July while the … (0 comments)
market report: Downtown Seattle Condo Update
- 08/01/06 07:19 AM
July saw an increase in condo inventory in the Downtown, Belltown & Pioneer Square areas from 89 to 131 active listings. Pending sales also increased 8.9% from 35 to 39. Interestingly, with the increased inventory, buyers had more choices and it resonated with them as the average days on market fell from 78 to 52 days. Additionally, 76% of newly listed units were sold within 20 days upon coming on the market (however, new construction presales listed in the MLS may have accounted for this). The average sale price reduced slightly ($466,500 to $463,700) with the average sale price approximately 2% … (0 comments)
market report: Western Washington - 2nd Quarter market report
- 07/18/06 09:23 AM
April saw the beginning of an uptick in inventory for houses outside the urban working areas. In the seventeen counties covered by the Northwest Multiple Listing Service, most saw double digit gains in the number of listings; some jumped as much as 25%. And home prices continue to appreciate as well. The median price for a single family home in Western Washington was $359,950, which represents a 12.5% increase.In May, pending sales were up 11.5% over April due to larger inventories in outlying areas. Neighborhoods close to the job centers of cities like Seattle and Bellevue continue to be hot, resulting … (0 comments)
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. In comparison to the prior year, the condo market has been the shining star of Seattle's real estate market this year.
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