18 May 2012

Seattle Real Estate Market Update ~ The Fast Pace Continues

Inventory remains very low and the pace of sale for both distressed (bank owned and short sale listings) and non-distressed homes remains in the 1.5-2.0 month range.  Predictably (and thankfully!), now the condo market is improving.  Last year in April we had 1,153 condo listings in Seattle; this April that number was cut nearly in half down to 653.  The result?  Months of condo inventory based on pending sales dropped from 6.2 in April '11 down to 2.8 in April '12.  Condo values are still lower in a year-over-year comparison, but if this pace continues, we may in time see prices stabilize and rise in this market as well.

Below you will find detailed statistics.  As always, let me know if I can be of help in anyway! 

These charts represent all single-family homes (not condos but including town homes) in all Seattle areas.