The Seattle condo market rebounded significantly last year after bottoming out in February 2012. For many buyers, the market depicted quick turnover, rising prices and increased competition with multiple offers.
Overall, Seattle realized $863,589,200 in total condominium sales volume in 2013, that’s a 17% increase from 2012 with unit sales rising 15.8% to 2,507 condos sold.
The citywide condo median sales price increased 12.3% last year to $280,655 compared to 2012. Even as condo prices and sales increased, turnover time reduced with the average cumulative days on market dropping 36.9% to 65 days. An impressive 62% of condos sold (offers accepted) within 30 days on market in 2013 compared to 46% during the prior year.
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