Sellers had a 15.9% chance of selling a condo on Seattle’s Eastside in April of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)

April, 2008            1392 condos for sale, 222 condos sold, 15.9% chance of selling.

March, 2008          1277 condos for sale, 208 condos sold, 16% chance of selling.

April, 2007              621 condos for sale, 377 condos sold, 60% chance of selling.

Condo values on the Eastside continue to go up. Last month prices increased over 7% from last year and this month prices are up 12.6%.  This is not to say it’s easy to sell a condo. Clearly, the actual number of sales is down considerably, by 41%.

Pricing a condo for sale should be based on the amount of competition and the most recent sales.  Sales from even a few months ago are out of date.  Understanding the competition when you go on the market is the key to a successful sale.  Pricing must be competitive so a condo stands out from the pack.