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What Were The Odds of Selling Your Seattle-Eastside Condo in December, 2009?

Seattle-Eastside Condo Real Estate Sales, Dec 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. 2009           1174 condos for sale,    125 condos sold,          11% odds of selling.

November, 2009          1289 condos for sale     140 (now 126)condos sold,         11% (now 10%) odds of selling.

December, 2008           1150 condos for sale       70 condos sold            6% 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. Thirteen percent of condo sales originally reported in October failed to close.

The number of condos for sale also dropped by 115 units, which is 9% decrease in the number of condos available for sale on Seattle’s eastside.   The eastside condo sales remained about the same as November.  The year finished out with sales happening, but not as many as September and October.  Those months were affected by the 2009 first time home buyer’s tax credit.

With the extension and expansion of the home buyer tax credit into 2010, there’s the added benefit of a tax credit, but only if you buy before the end of April, 2010.