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October 2017 Seattle Condo Update

Seattle Condo Market Update October 2017

Historically, Seattle experiences a bump in real estate sales during October (between the end of summer and start of fall) and this year was no different.

The number of closed Condo sales increased with the citywide median sales price rising 13.73% over last October to $472,000, which very nearly matched the all-time high of $475,000.

All Seattle neighborhoods realized year-over-year increases in median sale prices by double digits (see table at bottom of article).

Seattle Condo Median Price Change October 2017

Seattle Condo Median Sales Price October 2017

Seattle condo inventory trended downwards by 20.6% to 189 units compared to last year, while the inventory supply rate reduced slightly to 0.7-months of supply.

Seasonally, we’ll continue to see fewer active condo listings as we round out the year.

Seattle Condo Market Activity October 2017

Seattle Condo Inventory Supply October 2017

The number of pending sales transactions reduced slightly to 284 units, a 2.4% dip from a year ago, but essentially unchanged from last month.

Seattle Condo Pending Sales October 2017

Closed Seattle condo sales rose to 287 units reflecting a one-month and year-over-year improvement of 14.3% and 2.1%, respectively.

Seattle Condo Closed Sales October 2017

Seattle Condo Market Statistics October 2017
Source: NWMLS. Some figures were independently compiled by SeattleCondosAndLofts.com and were not published by the Northwest Multiple Listing Service.
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This post first appeared on Seattle Condos And Lofts | The Seattle Condo, please read the originial post: here

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October 2017 Seattle Condo Update

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