The condo market has come roaring back! Seattle-Eastside Condo sales are skyocketing! About 89% of the condos for sale in March sold! Harder hit than single family resales, it's fabulous news for those condo home owners who were so battered by the real estate downturn.
Prices are still not at the peak prices of 2007, but price increases have been pretty typical. As I mentioned in last month's post, the mid $200's price range has been the median price range for months now. Median pricing jumped from $200,000 in March, 2012 to $238,000 in March of this year. The hottest price range for condo sales continues to be under $350,000.
Since almost every condo for sale this past month sold, now is a great time to sell. Buyers continue to look for good condos to buy. With the competition at an almost all time low, the chance of selling your condo has increased dramatically. Last year at this time, there were about twice as many condos for sale. A third of those condos sold, but today, almost all the condos for sale are sold. It's a huge difference from last year.
If you'd like to know more about the condo real estate market, please free to contact us. We're here to help!