Condo Market Report

Q1 2017

Condo Report

 

Seattle area condos saw the Q1 median sale price increase by 14.5% over Q1 2016, while Eastside condos rose 17.3%. Both regions continue to experience stronger appreciation in condos than in single-family homes—a clear sign that affordability and in-city living are strong drivers in the local housing market.

Downtown Seattle-Belltown, Madison Park-Capitol Hill, and Juanita-Woodinville were nearly tied for the most sales in the Greater Seattle-Eastside region with each having just shy of 120 units sold in Q1.

Overall, the newest condos can be found in Downtown Seattle-Belltown with an average year built of 1998. The largest 2-bedroom condos, with an average of 1,562 square feet, are in West Bellevue.

The most affordable condos, with 2 bedroom units sold for around $259,750, can be found in the Richland Beach-Shoreline neighborhood. On the other hand, Downtown Seattle-Belltown condos sold for an average sale price of $1,150,000.

This report contains information on condo sales by neighborhood for the entire Seattle-Eastside region. The data includes average sale prices; typical size, bedroom count and age of condo buildings in each area; the number of units sold annually; and the average cost per square foot. While every condo building is unique unto itself, looking at overall prices within a region can show general growth trends.

 

Check out all of these factoids and more in the full condo report.

 

© Copyright 2017, Windermere Real Estate/Mercer Island. Statistics provided by the Northwest Multiple Listing service and deemed accurate but not guaranteed.