What Were The Odds of Selling Your Seattle-Eastside Condo in June, 2010?

Seattle-Eastside Condo Sales, June 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.)

June, 2010                   1487 condos for sale     154 condos sold           10 % odds of selling.

May, 2010                   1425 condos for sale      117 (was 125)  condos sold         8% (was 13%)  odds of selling.*

April, 2010                  1437 condos for sale      281 (was 316) condos sold       19.5%(was 22%)  odds of selling.*

June, 2009                  1491 condos for sale     161  condos sold,           11% 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.

In this month’s post I’ve included the condo real estate statistics for April to show the sharp contrast with May and June of this year.  Seattle-eastside condo sales dropped like a stone from the high of 281 in April to 117 in May and 154 in June. We’re seeing a lull in Seattle area condo sales, which is partly seasonal as people are out playing in the sunny weather.

But have condo buyers forgotten there are still good deals after the tax credit? Don’t forget, there’s a huge number of condos available on Seattle’s eastside as we’re at the high point in Seattle-eastside condos for sale so far this year.  There are some great choices out there. Plus, the added bonus is interest rates are at a 30 year low.

For a picture of King County sales, check out The Seattle Times.