SEATTLE CONDOMINIUM

HOUSING UPDATECondominiums in Seattle continue to be popular among buyers, as the average days on market in Q4-2017 was 16 days, up 1 day from the previous quarter but a staggering 50% lower compared to last year. Inventory wanes at just 0.4 months, a decrease of over 30% from 2016-Q4.

On average, condos are selling in 16 days, down 50% compared to last year.

Despite increases, mortgage rates remain historically low.

MEDIAN SALES PRICE: Q4-2016 VS. Q4-2017

$503KAVERAGE SALES PRICE

NUMBER OF CONDOS SOLD

There were 510 condos sold in the fourth quarter of 2016 and 567 condos sold in Q4-2017.

2016 2017

Each office is Independently owned and operated. All reports presented are based on data supplied by the NorthWest MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Condominiums, Q4-2017

The average price per square foot for Seattle condominiums increased by 11%, from $496.14 in 2016 to $550.60 in the fourth quarter of 2017.

The city's same-quarter condo sales and average sales price were both up by just over 10% from 2016, as 567 homes sold at an average of $503,000.

16AVG DOM

0.85%

18.0%

13.19%

The Seattle numbers were calculated using the following designated NWMLS regions: 380 (Southeast Seattle), 385 (SODO/Beacon Hill), 390 (Central Seattle), 700 (Queen Anne/Magnolia), 705 (Ballard/Greenlake), and 710 (North Seattle).

October November December 2017

4.25% CONV. LOAN