Seattle Remains America’s Hottest Home Market, Downtown Condo Values Up Big
It was widely reported yesterday that Seattle remains the hottest home market in the country. According to the Case-Shiller Index, the cost of a home in Seattle is 10.4 percent higher than what it was a year ago. We took at look at condos in Downtown Seattle and the story is very similar.
Take a look at the Median Sales Price – prices are up 13.5% YOY.
What is even more telling is the months supply of inventory. It is incredible to see how the inventory has consistently shrunk over the course of the year. It is down 23.5% since January of 2016. Take a look at this chart.
This Seattle condo market will continue to be difficult for homebuyers in the foreseeable future. We recently published our 10 Tips For Buying A Seattle Condo In 2017 – check it out and let us know if you have any questions.