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April 2010
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May 2010

America's #1 Economy: Seattle...Booyah.

Here is a good news from Puget Sound Business Journal on Seattle's economy.

According to Policom Corp., an independent economic research firm that specializes in analyzing local and state economies, out of the nation’s 366 metropolitan statistical areas, Seattle-Tacoma Bellevue rates No. 1, moving up from last year’s No. 12 ranking.  In 2006, Seattle-Tacoma-Bellevue ranked No.  51 in the country. The company uses 23 different economic factors to create its rankings.

Read more: Study: Seattle has nation’s best economy - Puget Sound Business Journal (Seattle) 


Speaking of nice stats, check out the Seattle condo market trends. Mmmmm.  Recovery.

Condos Sold (2010 versus same time 2009)

Seattle condos sold

 Median Days on Market for Condo Listings

Days on market

More Seattle condo trends.

The Sounds of Condo Living

There are so many advantages of living in a condo.  Some of them are having a homeowner association that will help in maintaining the building, a sense of community, shared amenities (in some) and the easy access to the conveniences (for most condos).  Of course, at the same time it comes with some disadvantages too.  

The potential of a building having a special assessment for some repair work, inconsiderate neighbors, a board member with a hidden agenda, etc. can make condo living a bit of a drag sometimes.  Over the years working with condo buyers and sellers, one of the biggest complaints that I've heard is noise.  Sure, if you're living in an urban area, you expect some degree of noise -- many people like the energy and hustle and bustle that comes with having the city outside your window.  

Continue reading "The Sounds of Condo Living" »

Seventh Straight Month of Positive Year-over-Year Seattle Condo Sales

April 2010 numbers are in for the Seattle condo market and they're strong, really strong.  There was probably a lot of mojo from the first-time homebuyer's tax credit which expired on May 1 so will be interesting to see how things pan out this month but if it's anything like April, we're doing a happy dance.

Some April highlights:

  • Overall, Seattle condo pending sales were up 65% and closed sales were up 80% versus last year. This was the seventh straight month of positive year over year closed sales.
  • Belltown/Downtown was on fire.  Seriously.  Belltown/Downtown pending sales were up 210% versus April 2009.  Belltown/Downtown closed sales were up 160% versus April 2009.  Meanwhile, bubble watchers should find some comfort in the fact that despite all the activity, prices remained stable and up only 2.61% versus last year.
  • Not every neighborhood was in perfect shape.  Ballard/Greenlake closed sales were up but "only" 8% versus last year. Ballard/Greenlake median closed prices took a hit at over 20% lower than April 2009.