The November numbers for the Seattle condo market are looking better than the oh-so-gloomy October numbers.
The median price for Seattle condos in November was at $263,500, only 3.13% lower than a year ago and an improvement of ~5.5% from the all time low of October 2010's $250,000 median price.
The total active inventory in November dipped slightly by 2.68% from a year ago and dipped significantly by ~12% from the previous month with 1,349 homes. We had 151 homes went pending in November, this is 1.31% lower than same period last year (although it is 12% higher than October 2010).
Ninety eight homes closed in the month of November; this is 49.22% lower than a year ago and reflects the low number of pending deals that got inked in October.
Overall, the most important trend to note is October 2010's year-over-year pending sales were abysmal: 1/2 the pending sales of October 2009! Thankfully, November 2010's pending sales were only 1% lower than the pending sales of November 2009.
Sometimes, not crashing is the best gift of all. Ho, ho, ho.