A few more condos for sale and a few more sales in February than in January! We crossed the threshold and are now back at over 300 condos for sale, the first month since last November. There were 311 condos for sale with 237 or 76% of them selling. The January pace of condos sales held steady into February.
Median pricing increased from $181,000 in February, 2012 to $247,000. Seattle-Eastside condo owners can be assured that median pricing for condos is firmly established in the mid $200,000's, since this has been the median price point since last May. How much higher prices will go depends on the supply and demand. If our supply remains low, as it has been for many months, and the demand remains high, expect the median price to increase.
The majority of condos that sold in February were priced under $350,000.
Buyers continue to look for good condos to buy. With the competition at an almost all time low, the chance of selling your condo increases dramatically. If you're thinking of making a move, now is a great time to do so.
If you'd like to know more about the condo real estate market, please free to contact us. We're here to help!