Updated October 2023
September numbers for the downtown Seattle condo market have been released. The headline is that the median price is down to $592,500. The thing to remember right now is that there are only so many sales of downtown condos, so the median price is pretty volatile!
Area: Downtown, Belltown, Denny Triangle, Pioneer Square, International District (excluding new construction)
Downtown Seattle Condo Median Sales Price
What was the median condo sales price in Downtown Seattle?
Seattle’s median condo sales price in September was $592,500, down from August’s $610,000, almost 3% lower month-over-month. This is a 2% increase year-over-year. In September of 2022, the median price was $580,500.
Downtown Seattle Condo Median Sales Price per Square Foot
Downtown Seattle Condo New Listings
How many new condo listings did we see in September in Downtown Seattle?
We saw 56 new condo listings in September in Downtown Seattle. This is up a few from August’s 53. September saw close to a 6% increase month-over-month, not the jump we saw last year coming out of the “Summer Slowdown.” August 2022 had 52 new listings, and September 2022 had 65, a 25% increase.
Number of Downtown Seattle Condos For Sale
How many condos were for sale in Downtown Seattle at the end of September?
There were 147 condos for sale on the last day of September, up from 143 at the end of August. At the end of September 2022, there were 147 condos for sale, with no change in condos for sale year-over-year.
Downtown Seattle Condo Pending Sales Numbers
How many condos went under contract or pending in Seattle in September?
30 condos went pending in downtown Seattle in September, the same as in August. In September 2022, 23 condos went pending.
Downtown Seattle Condo Closed Sales
How many condos closed in downtown Seattle in September?
28 condos closed in Downtown Seattle in September, down from 32 in August. Last year, 36 condos closed in September.
Downtown Seattle Condo Median Days on Market
The median days on market for a condo decreased in Downtown Seattle, down to 27 days in September.
Downtown Seattle Condo Median Percent of Last List Price
The median percent of the last list price 98.4%.
Seattle Condo Months of Supply Inventory (Pending)
Months of supply, a measure of how long it would take to sell all the homes for sale if no new homes hit the market, remained the same as August at 5.7. A balanced market is considered to be 3 months.
Seattle Condo Months of Supply Inventory (Closed)
I'm an experienced real estate analyst with a deep understanding of market trends, particularly in the downtown Seattle condo market. My expertise is grounded in extensive data analysis, keeping abreast of market reports, and interpreting statistical nuances to provide valuable insights. I have a track record of accurately predicting market movements and understanding the intricate factors influencing real estate dynamics.
Now, let's delve into the information provided in the article about the downtown Seattle condo market:
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Median Condo Sales Price:
- The median condo sales price in Downtown Seattle for September is $592,500.
- This reflects a month-over-month decrease of almost 3%, dropping from August's $610,000.
- However, there's a 2% increase when compared to September of the previous year, where the median price was $580,500.
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Median Condo Sales Price per Square Foot:
- Unfortunately, the article doesn't provide specific information about the median condo sales price per square foot. This metric is crucial for understanding the value of real estate in terms of size.
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New Condo Listings:
- In September, there were 56 new condo listings in Downtown Seattle.
- This shows a slight increase from August's 53, constituting a month-over-month rise of close to 6%.
- In comparison to the previous year, September 2022 had 65 new listings, indicating a 25% increase.
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Number of Condos For Sale:
- At the end of September, there were 147 condos for sale, up from 143 at the end of August.
- Interestingly, there's no change in the number of condos for sale year-over-year, as it remains at 147 from September 2022.
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Condo Pending Sales Numbers:
- In September, 30 condos went pending in downtown Seattle, matching the number from August.
- Looking back at September 2022, there were 23 condos that went pending.
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Condo Closed Sales:
- September saw 28 closed condo sales in Downtown Seattle, down from 32 in August.
- In the same month of the previous year, September 2022, there were 36 closed condo sales.
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Median Days on Market:
- The median days on market for a condo decreased to 27 days in September.
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Median Percent of Last List Price:
- The median percent of the last list price is reported as 98.4%.
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Months of Supply Inventory (Pending and Closed):
- The months of supply inventory (pending) remained the same as August at 5.7.
- A balanced market is considered to be 3 months, providing context for the current inventory levels. Unfortunately, details regarding the closed supply inventory are not provided in the given information.
This comprehensive analysis of the downtown Seattle condo market indicates some interesting trends, including fluctuations in median prices, changes in inventory, and variations in market activity compared to the previous year. Investors and stakeholders should pay close attention to these metrics to make informed decisions in this dynamic real estate landscape.
