Eastside December condo market report: median sales price slips again
The numbers for how the Eastside condo market did in December are in.
To wrap up the year, the median sales price (not including new construction) dropped for the second month in a row to $513,000. This is in stark contrast to the single-family market which continued to be fever pitched!
Following suit, median price per square foot dropped from the all-time high to $475.
Sellers were quiet in December with only 69 condos being listed for sale. Hopefully over the next few weeks we see some more inventory!
It was still a good month to buy a condo (vs a single-family home) despite a little bit of competition – median percent of list price ticked up slightly to 2% over list price.
Buyers stayed active and put 87 units under contract and we ended December with just 14 condos for sale across the Eastside.
Months of supply is the measure of how long it’d take to sell all the condos on the market. The all-time low continued with just 3 days of inventory at the end of the month.