How Was The Seattle-Eastside Condo Market in November, 2011?

 

Eastside condo sales

Seattle Eastside Condo Sales Through November, 2011


 
There were more condo sales on the eastside with 156 sales over last year’s 125!  There also were 21% fewer condos on the market than in 2010.  More sales and fewer condos for sale is a good thing!
 
There were 867 condos for sale in November, with 156 of them receiving offers.  Average market time was 118 days, one of the shortest market times of the year.  Condos sold within 91% of the original asking price.
 
The median sales price declined by 11% from $250,000 to $233,000.  Remember, though, this number includes median prices for all condos, including bank foreclosures and short sales.
 
Is this decline a true measure of the marketplace?

 
Real estate, including condos has become more affordable because of the drop in value.   This is the reality of the situation and is a boon to buyers who are hoping to make a move.
 
How are condos selling in your area?

Posted on December 15, 2011 at 8:51 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate, Seattle real estate | Tagged , , ,

One response to “How Was The Seattle-Eastside Condo Market in November, 2011?”

  1. Tacoma Homes says:

    I think we’ll continue to see growth in the condo market – especially the Seattle area. After a huge drop in value and several auctions, condos like Escala and Olive 8 will notice a rebound. Just look at the fact that Olive 8 is now 65% sold.

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