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
When compared to 4 weeks ago… it is kind of a mixed bag, with no general direction being shown at this time. Just as the Seattle Residential numbers were last week. Again, these stats are price range dependant with the lower priced condos moving faster than the upper end in general.
Condo Only, NWMLS Area 140 (West Seattle) = 33.8 weeks of inventory (was 34 four weeks ago)
Condo Only, NWMLS Area 380 (Central Seattle) = 24.4 weeks of inventory (was 28.8 four weeks ago)
Condo Only, NWMLS Area 385 (SODO/Beacon Hill) = NO SALES in last 7 weeks (was 23 four weeks ago)
Condo Only, NWMLS Area 390 (Central Seattle) = 36.5 weeks of inventory (was 28.8 four weeks ago)
Condo Only, NWMLS Area 700 (Queen Anne/Magnolia) = 28 weeks of inventory (was 31 four weeks ago)
Condo Only, NWMLS Area 701 (Belltown, Downtown) = 28.5 weeks of inventory (was 35.5 four weeks ago)
Condo Only, NWMLS Area 705 (Ballard/Greenlake) = 27 weeks of inventory (was 26 four weeks ago)
Condo Only, NWMLS Area 710 (North Seattle) = 21.4 weeks of inventory (was 20.9 four weeks ago)
Condo Only, NWMLS Area 715 (Richmond Beach) = 31.9 weeks of inventory (was 26.9 four weeks ago)
Condo Only, NWMLS Area 720 (Lake Forest Park) = 25.2 weeks of inventory (was 46.3 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
