Monday’s Market Update – Seattle Condos

Eastside & Seattle Market Absorption Rates
By: Tony Meier
Eastside & Seattle Realtor

This week we will be looking at the Condo market absorption rates for the Seattle Area over the last 7 weeks. When looking at these numbers, keep this in mind:

1.       These are an average of the all price ranges in the area. Some price ranges are definitely moving faster than others! If you would like to know how things break down in a specific price range for an area, send me an email at tony@staging.eastsidehomes.com

2.       These numbers are a result of the sales activity over the last 7 weeks when comparing the number of active listing vs. the number of pending sales to determine what the market absorption rate is for a particular area.

3.       When measuring the heat of the market, the following rules apply:

a.       12 weeks or less = Seller’s Market

b.      12-24 weeks = Balanced Market

c.       24 or more weeks = Buyer’s Market

Area 710 remains the bright spot on this chart with lots of movement in the under 300k range.  Area 140 is off across the board and has  110 weeks of inventory in the 300-399k range. Should be some opportunities there!

Condo Only, NWMLS Area 140 (West Seattle) = 43.1 weeks of inventory (was 28.2 four weeks ago)

Condo Only, NWMLS Area 380 (Central Seattle) = 25.4 weeks of inventory (was 23.2 four weeks ago)

Condo Only, NWMLS Area 385 (SODO/Beacon Hill) = 22 weeks of inventory (was 29.5 four weeks ago)

Condo Only, NWMLS Area 390 (Central Seattle) = 29.8 weeks of inventory (was 33.5 four weeks ago)

Condo Only, NWMLS Area 700 (Queen Anne/Magnolia) = 39.4 weeks of inventory (was 30.3 four weeks ago)

Condo Only, NWMLS Area 701 (Belltown, Downtown) = 36.6 weeks of inventory (was 31.2 four weeks ago)

Condo Only, NWMLS Area 705 (Ballard/Greenlake) = 28.6 weeks of inventory (was 32.4 four weeks ago)

Condo Only, NWMLS Area 710 (North Seattle) = 16.4 weeks of inventory (was 17.9 four weeks ago)

Condo Only, NWMLS Area 715 (Richmond Beach) = 30.1 weeks of inventory (was 25.8 four weeks ago)

Condo Only, NWMLS Area 720 (Lake Forest Park) = 40.4 weeks of inventory (was 34.8 four weeks ago)

If you have any questions on this information, I welcome you to email me at tony@staging.eastsidehomes.com

Posted By:
Tony Meier
Eastside & Seattle Realtor
EastsideHomesBlog.com
EastsideHomes.com
Seattle’s Eastside Real Estate Resource
tony@staging.eastsidehomes.com