September condo sales figures are in and here are some highlights:
- Inventory is at its lowest level for this year coming in at less than 1,000 condos on the market. Listings were down 7% versus August.
- Pending sales are up by 34.67% compare to same period last year and about the same as the previous month.
- Year-over-year sales were up 4.58% but were down from the previous month by ~20%.
- Median prices were steady floating around $240,000 to $255,000 for the last few months but down by close to 20% from a year ago.
- Months of inventory (how long it would take to consume all the available units based on current run rate) continues to show improvment from a year ago. We had about 7 months of inventory on the market based on closed sales and 5 months based on pending sales. Compared that to a year ago, it was at 11 months and10 months respectively.
By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.