Was The Seattle-Eastside Condo Market Still Strong in August?

 

Sixty percent of the available condos on Seattle's Eastside sold in August.   It's terrific to think that 2/3 of the August inventory sold.  The number of sales was none too shabby, but the market has slowed.  Earlier this year, 8 out of 10 condos sold in a given month.  But selling 6 out of 10 condos is still nothing to sneeze at.  It's still a very strong condo sales market. 

Median pricing stayed the same as July, $272,000. Median pricing seems to have stabilized as pricing for the last four months ranged from $269,000-$279,000.

Condos were on the market for 45 days.  If no other condos had come up for sale, it would have taken less than two months to sell all of the inventory available in August.

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on September 19, 2013 at 6:13 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Homeowners, For Sellers, Real Estate, Seattle real estate | Tagged , , , , ,

Seattle Eastside Condo Sales Sailed Through July

 

More condos were for sale in July than any month so far this year, but condo sales were still strong.

Median pricing dropped a bit from June to $272,000.  This does not reflect a drop in prices, but only that the median price of the condos sold in July was less than what sold in June.

We expect prices to continue to increase.  As an example of what's still happening in the market, we just sold a condo in Redmond in less than 2 days for 10% above the asking price! Not all condos or homes, for that matter, are selling over full price because of the increase in inventory.  Our listing was staged beautifully, professionally photographed, and priced realistically.  It immediately caught the buyer's attention and the seller received a fabulous offer.

Condos were on the market for less than 45 days.  It would have taken less than two months to sell all of the inventory available in July.

Since there still are a number of condo owners "under water" who are waiting for prices to increase even more, expect the market to remain strong, even if inventory increases.  We still have a shortage of condos for sale when compared to the demand.

If you'd like more information about the condo market or your condo in particular, please feel free to contact us. We're here to help!

Posted on August 16, 2013 at 6:48 pm
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate, Redmond | Tagged , , , , ,

June Condo Sales on Seattle’s Eastside Were Still Smoking!

 

 

Seattle Eastside Condo Real Estate is still terrific!  Since so many of the available condos sold in June, like most months this year,  it seems like it's impossible to get a condo.  If you're are looking for a condo to buy, more are coming on the market each month, so there's a fresh supply available.  You've just got to be quick as they sell so quickly.  Condos are selling in just over a month!  In June of 2012, it took 3 months to sell a condo.  This is still a very fast paced market. 

Median pricing jumped up to $280,000 in June and I hope we can cross the threshold to $300,000 for a median price in the near future.  The good news is as the prices go up, more condos will come on the market as more sellers will be able to afford to sell.  Higher prices are great for sellers, but not all bad for buyers, since it means more condos should come on the market.

If you'd like to know more about the condo real estate market, please free to contact us.  We're here to help!

Posted on July 12, 2013 at 5:46 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , ,

Seattle Eastside Condo Sales Were Booming in May

Looking for a condo in Seattle's Eastside cities of Bellevue, Redmond, Kirkland, etc?  There are a few more choices, but they are going fast.  If no other condos were to come up on the eastside, it would only take 1.4 months to sell all the available condos.  Supply increased in May, but sales were also up.  Condos on Seattle's Eastside are still hot!    May condo sales were as as hot as April.  In both April and May, 86% of all the available condos sold.  

As I mentioned last month, condo owners suffered the most during the downturn, so we're pleased to see the market improve for them.  We've had several sellers who have been waiting for a few years for values to increase to the point that they no longer are under water.  Some of these sellers are now thinking about making a move! 

Median pricing jumped up to $272,000 in May, which is exactly where we thought median pricing would be based on the huge amount of  activity.

If you'd like to know more about the condo real estate market, please free to contact us.  We're here to help!

 

Posted on June 13, 2013 at 9:50 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , ,

Seattle Eastside Condo Sales Keep Popping!

 

Condos on Seattle's Eastside are still hot!  There's been a negligible increase in supply, while the number of sales have increased.  In April, 86% of the available condos sold, so the fantastic market continues for condo sellers.  Since condo owners suffered the most during the downturn, it's great to see the market improve for them.  

We're starting to push up to the higher $200+ price median price, so prices are creeping higher.  We expect that to continue. 

If you'd like to know more about the condo real estate market, please free to contact us.  We're here to help!

 

Posted on May 15, 2013 at 7:49 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , ,

The Seattle-Eastside Condo Market is Back!

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!

Posted on April 11, 2013 at 11:22 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Homeowners, For Sellers, Real Estate | Tagged , , , , ,

The Seattle-Eastside Condo Market is Steady and Strong!

 

 

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!

Posted on March 20, 2013 at 5:15 pm
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , ,

Do You Want to Sell Your Seattle-Eastside Condo? The Buyers Will Come!

 

Yes, Veronica, there are some condos for sale on Seattle's eastside, but there are slim pickings.  The number of condos for sale over all of the eastside stood at less that 300 for the second month in a row.

It's clearly a seller's market as 80% of the condos for sale in January sold!   The number of sales jumped up by almost 60% in just one month.  December had 145 sales and in January, there were 229!  Sales also increased almost 40% from January, 2012.  None of this is surprising though, given the lack of supply. 

Median priciing increased from $168,000 in January, 2012 to $225,000 this past January.  Before you get too excited, no one will tell you that prices have gone up by 26% just in one month.  Remember the median pricing must be viewed over several months to see the true pattern in gains or losses in value.  The good news for Eastside condo owners is the median price has been above $200,000 since March of last year, fluctuating between a low of $200,000 and a high of $239,000.

Given the fact there are so few condos for sale, if you plan to make a move this year, now would be the time.  With the competition at an almost all time low, the chance of selling your condo increases dramatically. There are a lot of buyers out there right now!

If you'd like to know more about the condo real estate market, please free to contact us.  We're here to help!

Posted on February 14, 2013 at 12:20 am
The Beaupain Team | Category: Eastside Real Estate, For Buyers, For Sellers, Market Statistics, Real Estate | Tagged , , , , ,