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. 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 the prior year by over 10%. On the other hand, there are properties that have been sitting on the market so we might expect a better buyer negotiating position.

Continue reading (more graphs, sales transctions, inventory supply info, etc).