(The absorption rate, the percentage of condos selling,  is the number of condos for sale in any given month divided by the actual number of condos sold that month.  So if the absorption rate or chance of selling is 10% that means out of 100 condos for sale, 10 received offers and sold.)

October, 2009               1363 condos for sale      239 condos sold           17% odds of selling

September, 2009          1407 condos for sale     (now 210) 236 condos sold     (now 15%) 17% odds of selling.

October, 2008               1351 condos for sale          116 condos sold             9% odds of selling.

*Adjusted from previous month’s original numbers to reflect the actual number of condos sold and closed.  Some of the sales originally reported last month failed and did not close.

More Seattle Eastside condos are selling than earlier this year, although the absorption rate is still under 20%.

Important news for all condo buyers:

With the extension and extension of the home buyer tax credit to include not only first time buyers, but many move up buyers, I’m hoping the number of condo sales on Seattle’s eastside will increase in the near term.