November Condo Report: Sales Flat, Prices Up!?

Yesterday Redfin released data on what happened with the Seattle Area market in November showing that for the city of Seattle the median condo price increased 6.1% to $303,320, sales were flat at 138 sales and inventory declined 10% to 1,102 homes on the market at the end of the month.

Median Price Up 6.1%

The median price for condos in Seattle was $303,320 in November. Surprisingly, this is up 6.1% from October. Year-over-year median price is up 8.3%. At this time last year it was $280,000. As a condo owner, I’m pleased to see this!

November - Median Condo Price

November - Median Dollars Per Square Foot

Sales Flat

I’m surprised to see that sales in November, 138, are basically equal with October which had 137 sales. In fact, since there are typically a handful of late reported sales we’ll likely see November numbers settle above October. However, this is down 53.3% from last year when there was 282 condo sales in November, but that was likely buoyed by the first-time buyer tax credit.

November - Monthly Condo Sales Volume

Inventory Continuing To Decline

As for how many condos are for sale, what we refer to as inventory, it decreased 5.2% to 1,331 and is flat year-over-year. Last year at this time there was 1,335 condos on the market.

November - Inventory

Data by Neighborhood

Depending on how much work I have this week I’ll post a breakdown by neighborhood.

What Does the Future Hold?

Since everyone likely took two days off at Thanksgiving I expect that sales will decline in December. As for prices, it is anyone’s guess. I was expecting that prices would fall into the winter but surprisingly that hasn’t happened. As for inventory, fewer people will list their condos for sale in December than November.

November - Months of Supply

We’ve also seen the sale-to-list price stay flat at 94.9%. It was 94.6% in October.

What Do You Think?

Have you been shopping for a condo recently? What do you think of what’s available for sale? Made any offers? How did those go?

Redfin has a spreadsheet available if you want to dig into the data for for a neighborhood or city not included here (or for single-family home and townhouse data.)

Disclaimer: I work at Redfin and run the marketing team. This is one of the projects my team works on.

About Matt Goyer

I love condos, lofts, floating homes, new construction and mid-century moderns so much so that since starting this blog in 2006 I've written over 2,000 blog posts about them!

For years I resisted becoming a real estate agent preferring to be a marketing executive at Redfin but after leaving Redfin (after seven years!) I caved in the spring of 2014 and became a broker. So if you need help finding that "Urbnlivn-style" place or selling your home email me at, I'd be happy to help you.

Prior to Urbnlivn and Redfin, I worked at Microsoft after graduating from the University of Waterloo with a Bachelor of Mathematics with a major in computer science.

You can also find me on Twitter, @MattGoyer, or LinkedIn.

  • Shoreview Homes

    As an avid reader of Redfin’s posts, I’m very impressed with their (and your) work. I work in the Minneapolis market, and I personally noticed increased activity around here in the late Summer and early Fall. Interest rates were reaching historic lows as people were winding down their Summer schedules, and this could have contributed to the uptick in Sept sales? In any event, these graphs are not daunting in the least. Awesome!