Posts Tagged ‘west seattle condo sales’

In honor of my upcoming condominium listing in West Seattle, I thought I would take a second and share with you some numbers that show what is going on in that neck of the woods.

I took a look at  current active condominium listings and also what condominiums have sold in the past six months and found some interesting trends. 

First the numbers:

Studios

1 Bedrooms

2 Bedrooms

3 Bedrooms

In every price category there are far more listings then there are sales.  Also in every category, the condos that are selling are priced lower and on average smaller then the homes that are not selling.  In fact over the past six months there have been 14 condominiums priced over $700,000 in West Seattle and not one of them has sold. 

This is pretty typical of the overall market but is particularly true in areas such as West Seattle and Beacon Hill that tend to see a decent amount of lower priced inventory.  Buyer’s are coming off the sidelines, especially first time home buyer’s, but they aren’t willing to buy just anything.  They are pretty picky right now and are only willing to write offers on things that appear to already be discounted or are priced to move.  Expensive properties and inventory priced high or even fairly priced, is sitting for a long time if it is selling at all. 

As people bargain hunt over the next few months, the inventory at those price points will start to dwindle.  After that the fairly priced inventory will start to move.   For now, bargain hunting is the name of the game.  If you are selling, hang on for a few more months.  If you are a buyer, have fun.

Give me a call if you are looking for help from an agent.  I’d love to work with you.

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Rob Graham, Accredited Buyer’s Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com

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