How Did January, 2011 Seattle-Eastside Condo Sales Compare to January, 2010?

This is the fewest number of condos for sale in years, and I mean years.  I checked all the way back to the beginning of 2008.  There were only two months in 2008 when less than 1100  condos were for sale on Seattle’s eastside.
 

This is a better time than most of the past three years (tax credit time is the exception) to sell a condo.  Buyers are getting “off the fence” to buy, hence the higher absorption rate. The best of the best are selling quickly, while the rest just stay on the market.

Seattle Eastside Condo Sales

January 2011 Condo Sales on Seattle's Eastside

(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.)

January, 2011             1028 condos for sale      174 condos sold               17% odds of selling.

December, 2010         1084 condos for sale      120 (was 135)  condos sold      11% (was 12%) odds of selling.

January, 2010             1217 condos for sale       117 condos sold          10%  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.

If you plan to sell your condo in the near future, feel free to contact me if you have questions about what you need to do to get ready to sell.  Every seller has to do a few things before putting a home on the market.   If your home is positioned properly, it can be one of the lucky few to get an offer.


Posted on February 17, 2011 at 6:43 am
The Beaupain Team | Category: Bellevue Real Estate, For Buyers, For Sellers, Issaquah Real Estate, King County Real Estate, Kirkland, Market Statistics, Real Estate, Sammamish, WA Real Estate, Seattle real estate, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,

How Many Condos Sold on Seattle's Eastside in Dec 2010 Compared to 2009?

 

Seattle Eastside Condo Sales Results

Seattle Eastside Condo Sales from 2009 through 2010

December, 2010 beat out December, 2009 by 35 sales.  Over 30% more Seattle-eastside condos sold in 2010 than in December, 2009.

(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.)

December, 2010         1084 condos for sale      135  condos sold                   12.5% odds of selling.

November, 2010         1191 condos for sale       138 (was 150) condos sold          11.5%  (was 12.5%)  odds of selling

December, 2009         1174  condos for sale     100 condos  sold                   8.5% 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.

Other than the spring when the tax credit was in place, December was one of the best months to sell a condo last year.  Partly because there were fewer condos for sale, 31% fewer than the peak of 1552 in July.  Competition fell off so much by the end of the year, the odds of selling increased.  It will still be a challenge this year, but condos will sell.

If you plan to sell your condo in the next year or so, feel free to contact me if you have questions about what you need to do to get ready to sell.  Most every seller has to do a few things before putting a home on the market for the world to see.  If your home is in the best possible condition before going on the market, there’s a better chance your home will be one of those 9-12% of homes that gets the offer.  The number seems a little scary because it still is low, but if your home is positioned properly, it can be one of the lucky few to get an offer.


Posted on January 13, 2011 at 4:13 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,

How Was The Seattle Eastside Condo Real Estate Market in November, 2010?

Seattle Eastside Real Estate Sales

Seattle Eastside Condo Sales Nov 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.)

November, 2010         1191 condos for sale       150 condos sold                    12.5% odds of selling

October, 2010             1375 condos for sale       136 (was 147) condos sold      9% (was 11%)  odds of selling.*

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

November, 2009            1289  condos for sale     121 condos  sold                   9% 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.

Wow, November showed the biggest drop in the number of Seattle-eastside condos for sale so far this year! There are 184 less condos for sale.  We’re almost at the lowest point of inventory, that is the available condos, for the year.  The peak of condos for sale was back in July, when over 1500 condos were for sale on the eastside.

Everyone is so focused on how much homes and condos are losing in value.  Yes, there’s no one selling in today’s market that hasn’t lost money in the value of his/her home or condo in the last few years.  But remember, if you’re selling because you’d like to buy another condo or home, that one will also cost a lot less than it would have been a few years ago.

If you plan to selling your condo in the next year or so, feel free to contact me if you have questions about what you need to do to get ready to sell.  Most every seller has to do a few things before putting a home on the market for the world to see.  If your home is in the best possible condition before going on the market, there’s a better chance your home will be one of those 9-12% of homes that gets the offer.

Happy Holidays and have a great 2011!

Posted on December 16, 2010 at 1:02 pm
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,

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 , , , , , , , , , ,

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

 

Condo Sales on Seattle's Eastside, September, 2010

Seattle Eastside Condo Sales September 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.)

September, 2010        1448 condos for sale      155 condos sold                    11% odds of selling.

August, 2010               1499 condos for sale      140 (was 152) condos sold     9%  (was 10%)  odds of selling.*

September, 2010        1407  condos for sale     206 condos  sold                   12% 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 condo sales in September is very close to last year.  In fact, if you look at most of the months on the above chart, March and April stand out.  All the other months, except one, have fairly similar condo sales numbers.  March and April totals, which were so much higher than the other months, were because of tax credit.  Buyers rushed to beat the deadline of the tax credit during those months.  Ironically, that impacted May’s sales record.  It was the really low month of this year because so many of the buyers bought before May.

It’s too bad so many people rushed to buy then, because there is less competition among buyers and better interest rates.

As I mentioned last month, expect to see the number of condos for sale to keep dropping, which is a good thing for both buyers and sellers.  It will help to bring a little bit more balance to the market, although it will be a long time before there is a balanced market between buyers and sellers.

If you’re selling your condo, 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 October 14, 2010 at 7:34 am
The Beaupain Team | Category: Bellevue Real Estate, Bellevue, WA, For Buyers, For Sellers, Issaquah Real Estate, Issaquah, WA, King County Real Estate, King County, WA, Kirkland, Market Statistics, Real Estate, Redmond, Sammamish, WA Real Estate, Seattle real estate, WA real estate, Windermere Real Estate, Woodinville, WA, Woodinville, WA Real Estate | Tagged , , , , , , , , , ,