Sellers had a 12.7% chance of selling a condo on Seattle’s Eastside in July of 2008. ( click on 2008 year to date statistics in the link above for a chart showing the condo report)

July, 2008              1476 condos for  sale, 187 condos sold, 12.7% chance of selling.

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.

July, 2007                 918 condos for sale,  332 condos sold,   37% chance of selling.

The chances of selling a condo have been pretty consistent for the last three months, varying only by a percent.  The number of available condos shrunk a little in June, but is now slightly over the number of condos available to buy in May.

Are condo prices still going up?  Yes.  However, this past month and in May,  the increase in value was less than one percent.  Increases in value have slowed down considerably, while the inventory and the chance of selling has stayed fairly constant.  Cream puffs are selling, other condos are taking a very long time to sell. If you are buying, consider the best condo with the least amount of issues. 

Is the condo located near employment, transportation, schools, shopping? 

Is the condo in good condition?

Is the condo in a quiet location?

Does the condo have a strong amount in reserves?

Are the condo dues low?

Do the dues cover exterior maintanence, water, sewer, and garbage?

Anything else you should look for?  Do let me know.