There have been 32 sales thus far in the month of December and Seattle condo sellers are getting 99.14% of their asking price. It’s pretty remarkable. We put together a quick visual for you (see below).
December typically experiences a holiday slowdown, but that is not the case this year. Last month we had 38 sales and in December we have already hit 32 sales with 9 days left in the month. Out of the 32 sales, 4 of them were over $1,000,000 and 1 sale eclipsed the $2,000,000 price point. 23 of the 32 sales received full price or above asking offers.
With sellers getting 99.14% of their asking price and the average days on market being just 28 days, we don’t foresee any major change in the market for the first half of the year. Five important market indicators we are watching include:
- Fed Policy/Interest Rates
- Seattle apartment supply
- The upcoming election
- New construction and how that plays into inventory/demand
- Oil prices and its influence/pressure on the economy/US dollar/stock market