The Seattle Condo Sales for November Are In
Here are the quick headlines:
Condos are selling much sooner this year than last. To be exact, the average days on market was 105% longer or 73 more days on market last year versus this November
Sales are up 25%. Last year we saw 38 sales in November, this year the number rose to 49 units sold
The average sale price rose 12% to $870,736
There was an $8M condo sale last month – it has been referred to as the 50 Shades of Grey condo. Our friends at CurbedSeattle covered this story as well.
There were 11 sales last month over $1M dollars. The luxury condo market in Seattle is brisk. At monthly pace, there is only 90 days of luxury inventory. That is well below the average.
Despite a lack of good quality inventory, the Downtown Seattle market continues to accelerate. There are only 57 units for sale in all of Downtown. This is nuts. There are only 21 units priced between $500,000 to $1M.