Affordability and access to transportation and amenities continues to drive condo desirability, but a nearly three-fold increase in the number of units for sale and softening apartment rents have tempered demand in some areas.
Seattle’s Condo Median Sale Price was down 4% from Q4 and 10.7% from Q1 2018 to $460,000 following a 12.8% median price increase in 2018. The Average $ Per Square Foot was $577. West Seattle and Queen Anne condos fared better than average while condos prices to the north softened a bit more.
The Eastside’s Condo Median Sale Price was down 5.5% from Q4 and 4.2% from Q1 2018 to $460,000—the same as Seattle—following a 17.2% median price increase in 2018 and a 20.6% increase in 2017. The Average $ Per Square Foot was $431. South Eastside and Mercer Island condos performed better than average while Kirkland condos struggled in Q1.
Check out all of these factoids and more in the full condo report.
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© Copyright 2019, Windermere Real Estate/Mercer Island. Information and statistics derived from Northwest Multiple Listing Service and deemed accurate but not guaranteed.