If ever there was a doubt about the condo market in Seattle, the numbers from 2015 will squash it. Seattle’s condo market ended on a high note in December, showing great promise into the New Year ahead. The volume of condo sales in Seattle neighborhoods were pretty much similar to the numbers from the previous December, with the median sale price of condos across the city increasing by 17.7 percent year-over-year. That’s the 10th month in a row of such impressive growth.
Where Are the Numbers Boosting?
The value of condos increased overall in neighborhoods including the downtown core, Capitol Hill, been Anne, Belltown, and Ballard.
Image: Andrew E. Larsen
Is Seattle in a Sellers’ Market for Condos?
The number of condo listings dropped quite a bit in December, with 36 percent less units available for sale compared to the same time last year. With fewer inventories comes a greater opportunity for sellers to get as close to asking as possible — if not more. In fact, 99 percent of sellers are getting exactly that, making this a great time to get in touch with Seattle real estate agents and sell your luxury Seattle condo and reap the most rewards for your real estate.
Now Might Be the Perfect Time to Sell Your Seattle Condo!
Usually, inventory tends to increase somewhat as a new year starts to progress. However, it’s forecasted that this number won’t necessarily increase by a huge amount this year, and listings will likely be limited to resales. The demand is quite high for Seattle condos right now, which means sellers will be in the driver’s seat for quite some time.
There were 203 closed condo sales in December, which equates to a 6.3 percent one-month increase from the previous month. It’ll be interesting to see what happens as 2016 starts to pick up speed!