New construction added to the more than two-fold increase in the number of condos for sale during the year compared to 2017, from 2,131 to 4,857 units listed throughout the year. Even so, regional affordability issues drove condo desirability to all-time highs and fueled price increases that outpaced single-family homes.
Seattle’s Condo Median Sale Price was up 12.8% to $505,500, while its Average Sale Price was up 10.5% to $582,163. The Average $ Per Square Foot increased 7.5% to $601. Three regions saw increases above 20%: Richmond Beach/Shoreline at 26.8%, Ballard/Green Lake at 24.1%, and South Seattle at 24.0%.
The Eastside’s Condo Median Sale Price was up 17.2% to $480,500, while its Average Sale Price was up 17.0% to $576,061. The Average $ Per Square Foot increased 13.5% to $453. Two regions saw increases above 20%: East Bellevue at 34.0% and Kirkland at 25.0%.
Check out all of these factoids and more in the full condo report.
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© Copyright 2019. Information and statistics derived from Northwest Multiple Listing Service.