Sellers had a 13.6% chance of selling a condo on Seattle’s Eastside in June of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)

June, 2008            1427 condos for sale, 194 condos sold,  13.6% chance of selling.

May, 2008             1472 condos for sale, 211 condos sold,  14% chance of selling.

June, 2007             840 condos for sale,  382 condos sold,   45.5% chance of selling.

The absorption rate, the chance of getting your home sold, did not vary much from May to June of this year.  Inventory is actually down slightly, but the chances of selling were almost the same during the past two months.

Condo values on the Eastside continue to go up, but last month the increase was negligible at only .5% from June of last year.  The actual number of sales is down considerably, by almost 50%. This means the cream of the crop of condos are getting the offers and other condos are just sitting on the market.  Pick your condo/town home purchase wisely.