Seattle Condos Still a Sellers Market

Seattle Condos Still a Sellers Market

 

One gauge that we use is called "Months of Inventory" which is a term we use that captures the absorption  rate in the market. That is,  what is the amount of time it would take to sell all current listings at the current sales pace if no new listings became available?



In January 2008 Months of Inventory for Seattle condos was 9 months  which was to the advantage of buyers. Since then the tide has turned. In September 2013 it sharply decreased to three months of inventory which is in the favor of sellers.

Seattle Condos Homes

It seems like this tide began turning in February 2012 beginning at six months of inventory slowly down to three months which is to the advantage of sellers:

 

Seattle Condos Real Estate



What do these numbers mean to buyers?

Inventory is low so I suggest you be prepared. For example before shopping for a home obtain a pre-approval letter from a lender. That way if you find the Seattle condo of your dreams you are prepared to put in an offer.

What do these numbers mean to sellers?

This may be a great time to sell.



Whether buying or selling a Seattle condo, contact me for a FREE market analysis at (425) 290-3114.

 

 

* Source: Northwest Multiple Listing Service (NWMLS.) The NWMLS did not compile or publish this information. Information is believed to be accurate but should not be relied upon without verification.

 

 

Lana Robbins, Managing Broker, Realtor ®

Phone (206) 445-8034
Email: Lana (at) AlohaKaiRealEstate.com

Ed Hinman, Vice President

Phone (206) 445-8034

Email: Info (at) AlohaKaiRealEstate.com

 

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Lana and EdAloha Kai Real EstateWe are commited to Fair Housing Laws

 

We are committed to Fair Housing Laws and are an Equal Opportunity Employer.

Seattle Condos Still a Sellers Market
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