How Was The Seattle-Eastside Condo Market in October, 2010?

Condo Sales on Seattle's Eastside

Seattle Eastside Condo Sales Through October 2010

(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, 2010             1375 condos for sale       147 condos sold                    11% odds of selling.

September, 2010        1448 condos for sale      130 (was 155) condos sold         9% (was 11%) odds of selling.*

October, 2009            1363  condos for sale     200 condos  sold                   15% 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.   Some of the reasons sales fail are the buyer and seller don’t agree on the building inspection, the condo does not appraise for the sales price or the buyer’s financing does not come through.

The number of Seattle-eastside condos for sale dropped considerably as there are about 75 less condos for sale.  The numbers are back down to March’s numbers.  It’s pretty typical, no matter the kind of real estate market there is out there, for there to be more condos for sale in the summer than at any other time during the year.  The decline in the number of condos for sale should continue until the end of the year. So if you plan to sell next year, start early in the year.  Don’t wait until summer.

If you’re selling your condo now, can you be one of the 11/100 who gets the offer?  Yes, if price and condition beat all of your competition.

What do you see happening with condo sales in your area?

Posted on November 16, 2010 at 2:58 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Homeowners, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, WA real estate | Tagged , , , , , , , , , ,

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