I just released another video on our YouTube channel. If you guys haven’t subscribed yet, check it out here.
This last Friday, I was featured in the Seattle Times. The article, titled “Relief For Seattle Area Condo Buyers As Prices Drop Amid Flood of New Units”
explored the decrease in condo pricing in King County. The author did a good job exploring the current state of the market as a whole.
What I wanted to do, was to share with you guys how important it is to look deeper into the data. For example, you can’t compare Downtown Seattle condos right now to the condos in North Seattle. Why? Well, real estate is hyper-local. While King County as a whole had prices decrease, Downtown Seattle experienced a 4.6% increase to its Median Sales Price.
This is exactly why we have to look deeper into the numbers to get an accurate picture of what the market is doing in the different boroughs of the city.
You’ll see in the video that I cover three indicators that are important to track:
- Median Sales Price
- Average Days on Market
- Months Supply of Inventory
Secondly, I covered where I thought Seattle condo market was headed. There were three topics I spoke about in the video – all that I believe will continue to move the market higher:
I hope you get a chance to watch the video. If you do, please leave any comments or questions on our Youtube Channel.
Have a great week!