Seattle condo September market report: median price ticks up a touch
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The numbers for what the Seattle condo market did in September are out.
The median price for Seattle condos (excluding new construction) in September was $475,000 up just slightly from $470,079 in August. But compared to last year, when the median price was $466,500 prices are up nearly $10,000. Definitely not comparable to the single-family market.
Here’s a deep dive into all the numbers…
Like the median price, the median price per square foot was also down.
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In September condo buyers put 263 condos under contract. Surprisingly this was less than August when I would have expected to see more go under contract once buyers returned from their summer vacations. But 263 is still more than we saw last year, 229, and a lot more than in 2019, when we saw 170 go under contract.
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Meanwhile, days on market moved up to 13 giving you nearly a week more time to buy a condo than a single-family home.
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As buyers and sellers returned from summer holidays, more new listings hit the market after labor day.
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At the end of September, there were 458 condos for Seattle, well below the 870 we saw last year, but last year was definitely an anomaly.
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Months of supply is the measure of how long it’d take to sell all the condos on the market. Months of supply stayed steady in September still making it a seller’s market.
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