Here are some interesting condo statistics gleaned from the NWMLS’ 2009 Statistical Review and Highlights report. The NWMLS region covers 21 counties, mostly in western Washington.
- More than 52,000 closed residential sales in 2009 accounting for more than $17 billions in total sales volume, of which 6,800 were condos valued at $1.9 billion in sales.
- King County realized just over 20,200 residential sales valued at $8.6 billion, of which 4,191 were condos (down 18.8% from 2008) with a value of $1.3 billion.
- Only 43% of King County condo sales were located in Seattle.
- There were 1,793 condo sales in Seattle (down 15.5% from 2008) valued at $645 million. Condos accounted for 25% of all residential sales in Seattle.
- There were 802 sales of single family homes and 66 sales of condos priced $1 million or greater in 2009. Bellevue had the highest number of $1+ million sales overall, though Seattle accounted for 67% of all $1+ million condo sales (44 units).
- In Seattle, 56% of condo sales were priced under $300,000, 11% were priced above $500,000 and only 2.5% were $1 million or greater. For comparison, in 2008 46% of condo sales were priced under $300,000, 15% were priced above $500,000 and 3.2% were $1 million or greater.
- The median condo price in King County was $255,000; Seattle’s median condo price was $279,000.
Note: The NWMLS database and statistics do not include many new construction pre-sale units, private sales or auction sales.
Source: Data was obtained from the NWMLS press release and 2009 Statistical Review and Highlights report, with the exception of the Seattle statistics, which were compiled independently. Some figures were rounded.