MLS #2497638

Live above it all! Come home to this spacious one-bedroom top floor, end unit view condo. This unit sits in the heart of one of Seattle’s most sought after in-city neighborhoods with a beloved local bakery literally at your doorstep.

Soak in stunning views of the city and mountains from your light-filled home or large rooftop deck with BBQ. With no rental cap and short-term rentals allowed, it’s perfect for investors or anyone seeking flexibility or rental income. This condo boasts a Walk Score of 98; Live among many Wallingford shops, restaurants and more.

• One-bedroom, one-bath
• 781 square foot
• Top-floor end unit
• In-unit washer & dryer
• Garage parking
• Extra storage

This modern condo home is offered at $475,000.

For more information and photos, visit Wallingford 45 Condo Unit 411

Learn more about this property! Drop us a note or inquire about this property or for a private showing at Wallingford 45 Condominium.

The post Spotlight Listing: Wallingford View Condo first appeared on Seattle Condos and Lofts.

MLS #2404860

Welcome home to your sanctuary in the heart of the city at this Southeast corner overlooking a tree-lined street at 2200 Westlake Condominium.

This large 858 square foot one-bedroom unit offers floor-to-ceiling windows, gas fireplace, a private balcony with streetscape views. The island kitchen features granite countertops, stainless appliances and ample storage. Work from home with the fully functional built-in desk workspace.

The 2200 Westlake offers top-tier amenities including a fitness center, sauna, community lounge, movie theater, game room, BBQ terrace, pet area, concierge, secured Amazon lockers and more. Plus, Whole Foods is just an elevator ride away—urban living at its best!

• Hardwood & plush carpet flooring
• In-unit washer & dryer
• Garage parking
• Extra storage
• HOA dues include central hot water, natural gas, water / sewer / garage, concierge and common area maintenance.

This wonderful condo home is offered at $529,950.

For more information and photos, visit The 2200 Westlake Condominum #S403

Learn more about this property! Drop us a note or inquire about this property or for a private showing at the 2200 Westlake Condominium.

The post Spolight Listing: South Lake Union Sanctuary first appeared on Seattle Condos and Lofts.

February turned out to be fairly typical for Seattle’s condo market based on historic trends. Overall, progressing through the new year, Seattle condos reflected higher selling prices and increased sales activity. However, the market underperformed compared last February.

Prices Trend Upwards, But Below 2025 Levels

The Seattle citywide condo median sales price in February was $596,275. That reflected one-month increase of 7.1% over January. But, also, a year-over-year (YOY) decrease of 4.6% from last February.

By NWMLS neighborhood area, South Seattle (+49.5%), Southeast Seattle (+14%) and Northeast Seattle (+5.3%) were the only areas to realize increases in their selling prices in February. On the other end, Queen Anne / Magnolia (-26.8%) and Downtown / Belltown (-14.2%) led areas with declining values with double-digit decreases. Click here to view the complete neighborhood area statistics for February 2026.

This reflects the selling prices of all condominium-classified properties in Seattle. The NWMLS commingles various types of properties under its “condominium” category. It includes properties we normally consider to be non-traditional condos such as townhomes, condoized single family houses, accessory dwelling units (ADU), detached accessory dwelling units (DADU), boat moorage and deeded parking spaces. Typically, these are newer, larger and more expensive.

Selling prices were pretty solid when we break out the numbers between traditional and non-traditional condos. Traditional condos had a median sales price of $487,500 in February. That reflected a one-month increase of 9.6% and a YOY drop of 0.5%.

Non-traditional condos had a median sales price of $825,000, exhibiting both a YOY and MOM increase of 6.5%. They also comprised 35.3% of all condo sales in Seattle, essentially 1 in every 3 condos sales were non-traditional and they were predominately new townhomes.

Listings Increased at a Decreasing Pace

The number of listings increased as we’d anticipate transitioning from winter towards the spring. Cyclically, Seattle condo listings rapidly rise throughout the first quarter as we leave the dreary fall season behind with improving weather and renewal.

That said, the number of condo listings increased last month, but at a decreasing pace. Seattle ended February with 836 active listings for sale. That’s 19.6% more than last February and 9.3% more than the prior month.

We started the month with 765 listings and sellers added another 382 new listings for a total of 1,147 units. But, the 382 new listings in February reflected 14.5% fewer new listings compared to January and only 0.5% more YOY. While we have more listings for sale overall, sellers brought fewer listings to market. The increase in net listings for the month was mostly due to sluggish sales.

Of the 1,147 listings available for sale throughout the month, 311 came off the market for various reasons — pended and under contract, had quick closings, been expired or cancelled, rented out or for other reasons — leaving 836 remaining at month’s end.

As of the date of this post, Seattle’s active condo inventory is comprised of 77% traditional condos and 23% non-traditional condos.

The Seattle condo inventory supply rate held steady at 3.7-months of supply, which kept Seattle on the cusp between a seller’s market and a normal market. This is an improvement over last February when the market had slid into a tighter seller’s market.

The inventory supply rate is a metric categorizing the current market condition. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We use pending transactions when calculating the supply rate, though closed sales is also used.

Seattle is comprised of neighborhood and price point micro-markets. Neighborhoods with a dense concentration of condos like downtown, Queen Anne and Capitol Hill, are reflective of a balanced market with more than 4-months of supply. In areas with fewer condos such as North Seattle and West Seattle, they’re reflective of a seller’s market with under 3-months of supply.

Condo Sales Improve, Sluggishly

One of the reasons we have more listings and a decent inventory supply rate was due to softer condo sales in February. There were 223 pending transactions (listings under contract in escrow). That was an improvement over January by 8.8%, but sales velocity underperformed the same period last year by 16.5%. Sales are trending upwards, just not at the rate we experienced a year ago.

Buyers are buying, though many still remain on the fence. Lower mortgage interest rates, more choices, better values and contract terms have spurred some buyers. However, anecdotally we’re hearing buyers with concerns about tech sector layoffs, financial markets & investment balances, and global events, keeping them on the sidelines for now.

There were 180 closed condo sales in February, reflecting a one-year decline of 9.6%. It also exhibited a one-month jump of 26.8%, which were likely closing lags from December’s pending transactions. Usually, closings lag behind pendings by a month, though it looks like number of December sales had extended closings into February.

In Summary…

February exhibited a fairly typical month for Seattle’s condo market as we progress through the new year. Sales activity and selling prices rose, though at a lower rate than we experienced in February 2025.

Interestingly, even though the number of condo listings available increased, fewer sellers brought new listings to market in February. That should change, I expect we’ll see more listings as we move on towards spring.

For Seattle condo sellers, spring is the prime season for Seattle’s real estate market. Historically, it’s the most active period with the highest number of condo sales and selling prices. There are more buyers in the market place, but also more competition from other sellers.

For condo buyers, they’ll usually encounter higher selling prices and competition from other buyers in certain neighborhoods. However, the market is sluggish overall and has been underperforming so they may have the upper hand, especially in condo dense neighborhoods around the downtown core.

Seattle Condo Market Statistics February 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post February 2026 Seattle Condo Market Recap first appeared on Seattle Condos and Lofts.

Real estate transactions have long been susceptible to illicit financial activity, such as money laundering. And, real estate sales and transfers have been an ideal means to launder money.

In an effort to combat illicit activity, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) is enacting expanded reporting requirements for real estate transactions effective March 1, 2026.

This requirement only applies to certain real estate transfers, thus it will not affect the vast majority of buyers or sellers. 

In a nutshell, the new reporting requirements for real estate transactions will be triggered when all three of the following conditions are met:

• Purchased by an entity, such as trusts, LLCs, corporations & partnerships.
• Residential properties (1-4 unit structures including individual condo and co-ops units, residential / commercial multi-use properties, vacant land intended to be used as residential).
• Purchased with other than conventional mortgage financing. That is, purchased with cash, hard money financing, gifts, seller financing, etc.

There are a few certain exemptions to the reporting requirements that may apply.

For transactions triggered by the reporting requirements, Escrow will collect the necessary information from buyers and sellers. They will then file it with FinCEN.  The required reporting information may include:

• Full legal name
• Street Address
• Date of Birth
• Email Address
• Phone Number
• IRS Taxpayer Identification Number

The information required will be dependent on several factors such as the reporting party, type of entity / trust, ownership interest, and so forth.

Escrow’s receipt of complete information from buyers and sellers are required in order to close the sale. If not received in time, or failure to provide the information to escrow, will delay the closing.

Additional Escrow fees for FinCEN related transactions and reporting may be incurred.

This post is meant to provide a high level overview only. For more detailed information, visit the FinCEN website at: https://www.fincen.gov/rre

The post FinCEN Reporting Requirements for Real Estate Transactions first appeared on Seattle Condos and Lofts.

Seattle’s condominium market started 2026 a bit shaky. In January, we saw more listings as expected, along with fewer sales, and a drop in median selling prices compared to last year. Although, January 2025 may have been an anomaly.

Seattle Condo Selling Prices Unravel

The Seattle citywide median sales price for condos was $577,000 for January. Overall, that was a decrease of 19.3% compared to January 2025, which was the all-time record high for Seattle condos at $689,975. A level we haven’t come remotely close to since. Compared to the prior month, however, the median sales price increased slightly by 0.4%.

Contributing to that was the greater number of high-valued properties that sold last January where 29 units, or 19% of the sales, were over $1,000,000. This January, only 15 units, or 10% of sales, were over $1,000,000. With the roughly the same number of units sold, the greater number of pricier units last year had adjusted the median mid-point upward compared to this year.

Separating the median selling price out between traditional condos and non-traditional condos, both property types still exhibited year-over-year decreases, though not as dramatic as the citywide figure. For traditional condos, the median selling price in January 2026 was $445,000, which represented a 12.9% year-over-year decrease. For non-traditional condos, the median selling price in January 2026 was $775,000, or a 5.8% drop from last January.

The Northwest MLS broadly defines condominiums to include traditional condo flats, as well as non-traditional property types such as townhomes, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), parking spaces, boat moorage and condoized single family houses. Single family houses are usually “condoized” when an ADU or DADU is built on the property. The original house and new ADU or DADU are set up as a 2 or 3 unit condominium.

Non-traditional properties are typically newer, larger and higher priced than the normal condo unit in a building. They represented 37.1% of all condo sales in January 2026, thus they have a significant impact on median selling prices throughout Seattle.

Listings Blossom

With our cyclical market place, the number of active Seattle condo listings for sale increase with the start of the new year. And, that was evident last month. We ended January with 765 units for sale in the NWMLS, a one-year and one-month increase of 21.6% and 26.7%, respectively. The actual number is a little higher as developers normally limit the number of units they list at any one time.

We started January with 604 listings and sellers added another 447 new listings throughout the month for a total of 1,051 units for sale. Of that number, 286 came off the market — these may have been units sold or in pending status, listings that expired or were cancelled, were rented out or came off the market for other reasons, leaving 765 at month end.

Also of note, there were more new listings this past January (447) compared to last January (394), a 13.5% increase. More sellers are selling so far this year.

As to composition of properties, of the current active listings as of the posting of this article, 77.1% of the listings are traditional and 22.9% are non-traditional.

In terms of supply, the inventory supply rate rose to 3.7-months of supply in January, placing Seattle’s condo market on the cusp between a seller’s market and a balanced market environment.

The inventory supply rate is a metric utilized to categorize the current market condition. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We use pending transactions when calculating the supply rate, though closed sales is also used.

The market condition and supply can also be expressed as an absorption rate, which was 26.8%. A rate of over 20% is considered a seller’s market, between 10-20% a balanced market and less than 10% would be a buyer’s market.

Condo Sales Lag

There were 205 units that went into pending status (under contract in escrow) in January. That was 12% more than in December, which is not surprising as December is the slowest month for real estate sales. Unfortunately, that reflected a year-over-year decline of 8.9% from fewer buyers purchasing this January compared to last year. Fewer buyers are buying…so far.

The Spring season is the most active for Seattle’s condo and real estate market, so we should see an improvement in condo sales over the next few months.

Favorable interest rates may help spur more activity. However, the Seattle metro area has been rocked by some unpleasant employment news recently, particularly in the technology sector. Tech employees are the cornerstone of Seattle’s condo market buyers, so there is a potential the tech sector employment instability may impact the condo market.

There were 142 condo closings in January, reflecting a 1.4% and 29% decrease year-over-year and month-over-month, respectively. Closings lag pendings by a month, so we should see closings rise in February given the higher number of pendings in January.

In Summary…

Seattle’s condo market started 2026 a bit wobbly with a decrease in median selling prices and unit sales compared to last January.

Seattle’s condo results are skewed by the increasing number of non-traditional condo sales that affect statistics. In January, they represented 1 in every 3 condos sold (and 1 in 4 active listings). As they are usually newer, larger and more expensive, they adjust the median selling price mid-point upwards.

Seattle’s real estate market is cyclical as the seasons change. With the holiday season behind us, and the weather warming with longer daylight, the market starts to pick up with Spring being the most active time for real estate sales.

We will soon see the number of condo listings skyrocket providing buyers more options and potentially better prices and terms. That said, however, well-priced units in desirable locales where inventory is limited, buyers could very well encounter a more competitive environment. Though, the uncertainty with the tech sector employment may damper sales.

On the other hand, for sellers taking advantage of the prime selling season, there will be a plethora of competing properties. That may place downward pressure on pricing and longer market times. Fortunately, rates remain stable and buyers are still buying.

Seattle Condo Market Statistics January 2026

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo Market Recap January 2026 first appeared on Seattle Condos and Lofts.

The Seattle Condo market finished off the year strong. The market shook off the winter doldrums and clocked in solid results in December. Median selling prices and unit sales increased, while inventory reduced.

Selling Prices Improve Slightly

The Seattle citywide condominium median sales price was $555,000 last month. That reflected a year-over-year increase of 0.9%, but dipped 3.2% from the previous month.

Breaking that down by NWMLS neighborhood areas, Northwest Seattle (+31.5%), West Seattle (+23.2%), South Seattle (+7.8%), Queen Anne / Magnolia (+6.8%) and Northeast Seattle (0.7%) realized gains in their median selling prices for the month of December.

Conversely, Downtown / Belltown (-20%), Southeast Seattle (-2.2%) and Capitol Hill / Central (-1.5%) exhibited declines. Click here to view complete neighborhood stats.

These are based on all condominium sales. However, the NWMLS has a broad definition of “condominium”, which includes properties not traditionally thought of as condos. These include the plethora of new townhomes, condoized single family homes, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), boat moorage and parking spaces.

These non-traditional condo properties are usually newer, larger and more expensive than the typical flat-style unit in a multi-unit building or complex. In December, they accounted for 31.9% of all condo sales with a median sales price of $749,925. Non-traditional condos made up a larger segment of the condo market compared to last December (31.9% vs 24.9%), but reflected a year-over-year decrease of 13.6% as well as a one-month dip of 1.2% in its median sales price.

Traditional condos, on the other hand, had a median sales price of $489,875 in December and realized an increase in its median sales price of 4.8% over the same period last year and 4.2% more than in November.

Inventory at Year End Low

As we’d expect for December, the slowest month for real estate in the Northwest, and historically having the fewest number of listings, reflected a drop in inventory. Seattle ended December with 604 condo units listed for sale in the NWMLS, a decrease of 31.1% from November. However, that was 13.8% more than we had last December.

We started the month with 877 listings. To that, sellers and developers added 144 new listings throughout the month for a total of 1,021 units for sale. Of that, 417 listings came off the market in December due to sales, cancellations, expirations, being rented out or for other reasons, leaving 604 listings at month end.

That said, the most active season for real estate begins with the start of the new year and carries on into Spring. Cyclically, the number of condo listings will increase rapidly before plateauing in Summer.

With fewer listings for sale and strong sales volume in December, the inventory supply-rate dropped last month to 3.3-months of supply. That, technically, moved Seattle back into a seller’s market environment.

The inventory supply rate is a metric utilized to categorize the current market conditions. A rate of less than 4-month of supply is considered a seller’s market. A rate between 4 to 7-months is a normal or balanced market. And, a rate more than 7-months would be a buyer’s market. We utilize pending transaction when calculating the supply rate, though closed sales is also used.

Seattle’s condo market briefly experienced normal market conditions last year and I suspect we’ll be back there by Spring time. Interestingly, Seattle, as a whole, as not been in a buyer’s market since 2010.

However, Seattle’s real estate is comprised of micro markets based on locale and price points. For instance, with a combination of fewer listings and greater sales, North Seattle, Capitol Hill and West Seattle exhibited a seller’s market environment based on the supply rate (under 4-months). The rest of the city reflected a normal market environment.

Condo Sales Stronger Than Usual for December

As hinted above, condo sales velocity increased in December with 183 properties going into pending status (accepted offers in escrow). That represented a one-year increase of 19.6% in sales, but a slight dip of 2.1% from the prior month. Although, that is to be expected given December is the slowest month for real estate sales.

There were 200 closings in December, reflecting a year-over-year and month-over-month increase of 12.4% and 23.5%, respectively. It appears there were a number of pending transactions from October with extended closings in December.

In Summary

The Seattle condo market closed out 2025 on a high note. Median selling prices and unit sales improved in December. That bucked the historic trend with December being the slowest month for sales and with lower selling prices.

Inventory dipped as is typical for December. However, combined with stronger sales volume, the inventory-supply rate moved into a seller’s market territory.

Seasonally, as the market makes its way from Winter into Spring, inventory will increase as sellers dust off the winter doldrums. And, buyers will enter the market that’ll give rise to unit sales and prices.

Seattle Condo Market Statistics December 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo December 2025 Market Recap first appeared on Seattle Condos and Lofts.

As Seattle transitions to the Fall Season, so does the real estate market. Seattle’s condo unit sales volume and selling prices decreased as have the number of active listings for sale.

Condo Prices Dip Slightly

The Seattle citywide condo median sales price in November was $573,500. That reflected a year-over-year and a month-over-month dip of 0.3% and 0.7%, respectively.

Breaking that down by Northwest MLS (NWMLS) neighborhood area, Capitol Hill / Central (-12.8%), Queen Anne / Magnolia (-11.3%), Downtown / Belltown (-2.1%), South Seattle (-26.4%) and Southeast Seattle (-33%) experienced a year-over-year decrease. On the other hand, Northwest Seattle (+11.5%), Northeast Seattle (+4.2%) and West Seattle (+3%) exhibited an increased in median selling prices in November. You can view the complete neighborhood statistics at the end of the post by clicking here.

The median sales price figures, as well as all condo statictics published by the NWMLS, are a bit skewed, however. The NWMLS broadly defines “condominium”, which includes a number of properties not commonly thought of as condos. These include attached and standalone townhomes, condoized single family houses, accessory dwelling units (ADU), detached accessory dwelling units (DADU) and boat moorage.

For the most part, these non-traditional condos are larger, newer and more expensive than the run-of-the-mill unit in a multi-unit condo building or complex. With the exception of the downtown area, these are usually smaller, older and less expensive.

Non-traditional condos accounted for 22.6% of all condo sales in November with a median sales price of $759,250. A year ago, they comprised 20.1% of all condo sales with a median sales price of $745,000. Thus, they made up a larger portion of unit sales and reflected a 1.9% increase in their median sales price for the month.

The median sales price for traditional condos in November was $470,000, which was 5.1% less than it was last November, and 11.3% less than a month ago.

Listings Decrease But Still Abundant

Seattle’s real estate market is seasonal and it cyclically slows down during the dreary and busy holiday Fall Season. Fewer sellers tend to put their homes on the market, instead opting to wait until the new year. As a result, there were fewer condos listed for sale last month.

We ended November with 877 condo units for sale in the NWMLS, down 12.4% from the previous month. However, that still accounted for 20.8% more listings compared to the same period last year.

We started November with 1,001 active listings and sellers added another 239 new listings throughout the month for a total of 1,240 units. Of that number, 363 came off the market for a variety of reasons leaving 877 at month end – most were under contract or had sold, were rented out, or the listings cancelled or had expired, or had been taken off the market for other reasons.

At the time of writing this post, non-traditional condos, predominately townhomes and DADUs, make up 25.2% of the active condo listings.

Even though there were fewer listings in November, the inventory supply rate inched up slightly to 4.7-months of supply, which was due to the decrease in unit sales.

The inventory supply rate is used to characterize the current market environment. A rate of less than 4-months of supply is considered a seller’s market, while a rate from 4 to 7-months of supply is a balanced or normal real estate market. And, a rate greater than 7-months of supply would be a buyer’s market.

With a 4.7-month supply rate, Seattle is reflective of a balanced or normal market, overall. Market conditions vary by neighborhood areas and price points, however, and buyers and sellers will come across differing experiences in these micro-markets.

For example, Northwest Seattle which exhibited an 11.5% increase in its median sales price has a 3.3-month supply rate that reflects a seller’s market. On the other hand, downtown has a 6.6-month supply, which is on the cusp of a buyer’s market.

Inventory supply can also be expressed as the absorption rate, which is a percentage based metric. Seattle’s condo absorption rate was 21.3% last month. Generally, an absorption rate over 20% is a classified as a seller’s market, between 15% – 20% is a balanced market, and a percentage less than 15% would be considered a buyer’s market.

Condo Sales Slows

There were 187 pending transactions (under contract in escrow) in November. That was 3.6% fewer than a year ago and 16.1% fewer than the prior month. With the Fall Season we’d expect sales to trail off, though the market is underperforming where we were this time last year. If trends hold, we’ll see a significant drop in December before rebounding in the new year.

The number of closed condo sale also decreased to 162 units. That reflected a one-year and one-month drop of 7.4% and 15.6%, respectively. With fewer pending sales in November, the number of December closing will drop as well.

In Summary

Seattle’s cyclically real estate market changes with the season. The Fall Season is the slowest period of the year for real estate with the change in weather and the busy holiday season. And, the market reflected that with a drop in median selling prices and reduction in sales volume.

That said, both buyers and sellers may encounter varying experiences based on Seattle’s neighborhood micro-markets. Some areas like Northwest Seattle remain fairly robust with solid sales, higher selling prices and low inventory. Conversely, in the condo dense downtown area, the market is softer with greater inventory and decreasing selling prices.

But, this will be short lived. If our cyclical market holds true, then we will see higher prices, greater sales volume and increased inventory in the New Year.

Seattle Condo Market Statistics November 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo Market November 2025 Recap first appeared on Seattle Condos and Lofts.

The October Seattle Condo market figures are in and it’s pretty much what we’d expect with the start of the Fall season. Seattle’s cyclical real estate market held true to form with the number of listings, unit sales and values trending down for the month.

Selling Prices Tempered Slightly

The Seattle citywide condo median sales price was $577,562. That represented a slight 0.4% year-over-year (YOY) dip compared to last October, but it also reflected a 10.3% bump over the prior month.

Most areas of the city reflected YOY median sale price decreases for the month with Queen Anne / Magnolia (-17.6%), Capitol Hill / Central Seattle (-12.9%), Northeast Seattle (-8.7%) and Northwest Seattle (-6.1%) experiencing the most fluctuation.

On the other hand, Downtown (24.5%) and West Seattle (8.7%) exhibited a YOY increase in their median selling prices. View full neighborhood area statistics at this table at the end of the post.

These figures were compiled by the NWMLS, which has a broad definition of “condominium”. The NWMLS lumps in various types of properties that we don’t typically associate as a condominium.

These non-traditional condos include townhomes, condoized single family houses, accessory dwelling units (ADU), detached accessory dwelling units (DADU), boat moorage and floating homes. For the most part these are newer, larger and higher valued than the traditional condo unit, thus impacting condo statistics.

Excluding non-traditional condos, then the Seattle citywide median sales price for regular condos was $530,000 in October. Rather than exhibiting a decrease as noted with the NWMLS broad classification, traditional condos experienced increases in their median selling prices. The segment increased 2.9% YOY and 18.6% over the previous month.

As for non-traditional condos, they represented 19.6% of the condo sales in October with a median sales price of $775,000. That reflected a YOY decrease of 3.2% and a one-month improvement of 3.7%.

Non-traditional condos usually raise the median sales price mid-point, but this past month, they depressed it while traditional condo values increased.

Listings Fall with the Season

As we’d expect with the start of the Fall season, the number of condo listings reduced and will do so throughout the remainder of the year. We ended October with 1,001 condos listed for sale in the NWMLS. That was still 12.9% over the number we had for sale during the same period last year, but it was also 6.3% fewer than we had a month ago.

We started October with 1,068 properties for sale and throughout the month sellers added another 389 new listings for a total of 1,457 listings. Of that total, 456 units came off the market through various means – pending sales, cancelled or expired listings, were rented out or other reasons.

The inventory supply rate dipped to 4.5-months of supply. The supply rate is a classification metric for the real estate marketplace.

A rate of less than 4-months of supply is considered a seller’s market, while a rate from 4 to 7-months of supply is a balanced or normal real estate market. And, a rate greater than 7-months of supply would be a buyer’s market.

Based on the inventory supply rate of 4.5-months, Seattle’s condo market reflected a balanced / normal market conditions overall last month. However, Seattle’s real estate market is comprised of various micro-markets based on location and price points so buyers and sellers may encounter differing experiences.

For example, Northwest Seattle and West Seattle have supply rates around 3-months, placing those areas in a seller’s market. Downtown and Northeast Seattle are close to 6-months of supply, and Southeast Seattle is at 15.5-months of supply. Southeast Seattle’s inventory is predominately townhomes, boat moorage and pre-sale units in new cooperative under construction. If we look at just traditional condo units, then the rate would be significantly lower.

Single family dwellings, by comparison, had a 2.3-month supply rate in October…making for a competitive marketplace.

Sales Dampen

There were 223 pending condo transactions (listings under contract in escrow) in October, the same number as the previous month. Though, compared to the same period last year, pending sales were down 7.1%.

Uncertainty with the economy, Seattle’s tech sector job market, and our cyclical/seasonal change may have have tempered buyers. That said, historically, the sales velocity will decrease as we round out the remainder of the year.

As with pendings, the number of closed condo sales also diminished in October. The 192 closings represented an 8.6% YOY and 2% one-month decrease, respectively.

In Summary

The October numbers reiterated Seattle’s cyclical, seasonal real estate marketplace. The number of listings and condo sales reduced and will continue to do so through the rest of the year.

Seattle’s citywide median sales priced dipped slightly overall due to the non-traditional condo segment. However, traditional condos exhibited an increase in its median sales price for the month.

As a whole, Seattle remains in balanced market environment, though buyers and sellers may experience differing outcomes based on neighborhood location and price point.

Seattle Condo Market Statistics October 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post October 2025 Seattle Condo Market Recap first appeared on Seattle Condos and Lofts.

Seattle’s condominium market was a bit of a mix bag in September. On the positive side, unit condo sales increased. On the other hand, inventory continued to rise and median sales prices fell.

Seattle Condo Selling Prices Dip

The Seattle citywide median sales price for condominiums in September was $523,687. That reflected both a year-over-year, and month-over-month decrease, of 13.6% and 12%, respectively. Notably, Capitol Hill / Central (-30.5%), Northeast Seattle (-30.3%) and Northwest Seattle (-10.3%) and West Seattle (-5.7%), exhibited year-over-year declines.

However, several areas experienced increases to their median selling prices. Queen Anne / Magnolia increased 6.8% and downtown increased 1.6% compared to last September. Southeast Seattle exhibited a 67.3% jump, but that’s a sample size of 2 units and both were townhomes compared to a single condo unit last year. View the complete result at the end of the post.

The figures noted above reflect all “condominium” sales in the city of Seattle. The Northwest MLS, unfortunately, has a broad definition of condominiums that include properties that we don’t typically think of as condos. These non-traditional properties include townhomes, attached accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), condoized single family houses, deeded parking spaces, moorage and houseboats.

Generally, these are newer, larger and higher-valued than the traditional condo unit in a multi-unit building or complex. Most condos in Seattle are smaller, comprised of studios, one-bedrooms or two-bedroom units.

Looking at just non-traditional condos, they comprised 21.7% of the condo sales in September with a median sales price of $747,000. That exhibited a one-year decrease of 9.5% and a one-month drop of 6.5%. As a percentage of condo sales, there were fewer non-traditional condo sales compared to last year when they accounted for 28.7% of all condo sales.

For regular, traditional condos, their citywide median sales price in September was $447,000. That reflected a one-year and a one-month decline of 14.9% and 15.7%, respectively.

Inventory Grew…Slightly

Not too surprisingly the number of active Seattle condos listed for sale increased. Seattle’s real estate market is cyclical and follows the same trend every year. We typically see a bump in the market between the end of Summer and the start of the Fall holiday season.

Seattle ended the month with 1,068 properties for sale, representing a year-over-year increase of 13.9% and a one-month rise of 6.8% over August.

In terms of newly added inventory in September – we started the month with 1,000 units and sellers added 507 new listings throughout the month for a total of 1,507 properties. Of that total, 439 units came off the market through a combination of sales, had expired or been cancelled, were rented out instead or other reasons. That resulted in 1,068 active listings at month end, which was just 68 more than what we started with.

As a result of the absorption in September, the monthly inventory supply rate rose slightly from 4.7 to 4.8-months of supply. And, that’s lower than where we were at a year ago, barely.

We calculate the supply rate based on the number of pending sales transactions to listings. The result is the number of months it will take at the current rate of sales to absorb the existing inventory supply. This metric characterizes the real estate market environment.

A rate of less than 4-months of supply is considered a seller’s market, while a rate from 4 to 7-months of supply is a balanced or normal real estate market. And, a rate greater than 7-months of supply would be a buyer’s market.

As a whole, Seattle’s condominium market is in a balanced market environment. That said, Seattle is comprised of neighborhood and price-level micro-markets. For instance, both Northwest Seattle and West Seattle had inventory supply rates under 3-months. That places them in a seller’s market environment.

By comparison, single family houses had a supply rate of 2.8-months. House buyers have encountered a more competitive housing market than condo buyers.

End of Summer Bump in Sales

The cyclical end of Summer bump resulted in an increase of condo sales with 223 units going under contract into pending sales status. That was 16.7% more pending units than a year ago and 5.7% more than the prior month. We may see this continue in October before trailing off for the remainder of the year.

Buyers may have been encouraged by the brief drop in mortgage rates, more choices and a stronger negotiating position.

The number of closed condo sales also rose in September with 196 units, which was 45.2% more than the same period last year. And, slightly more by 1.6% over August.

In Summary

Depending on your point of view Seattle had either solid or a softening condo market results in September. The market was relatively active and condo sales increased, which kept the inventory supply on an even basis with the previous month. Buyers were buying. On the other hand, median sales prices were tempered, though there were a few pockets of strong selling prices.

That said, we are now at the tail end of the year and Seattle’s real estate market follows a cyclical, seasonal flow. The weather change, shorter daylight and the busy holiday season all hamper the marketplace, which slows down through the remainder of the year.

Even so, there are condo sellers who need to sell and savvy buyers who are keen to take advantage of the softer market.

Seattle Condo Market Statistics September 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo September 2025 Market Report first appeared on Seattle Condos and Lofts.

Seattle’s condominium market ended Summer on a positive note. The August market results exhibited a rise in median selling prices, condo unit sales and inventory.

Selling Prices Tick Upwards

The Seattle citywide condo median sales price was $595,000 last month, reflecting a year-over-year (YoY) and a month-over-month increase of 7.2% and 8.2%, respectively. Looking at NWMLS neighborhood areas, most of the city experienced YoY increases, except for the condo-dense areas.

Northwest Seattle (+26.2%), West Seattle (+11.7%) and Northeast Seattle (+4.6%) lead the way. On the other hand, Capitol Hill (-12.6%), Downtown/Belltown (-7.2%) and Queen Anne/Magnolia (-0.3%) experienced decreases. That’s not too surprising since they collectively had 64.1% of the active condo listings in Seattle last month. View the complete neighborhood area breakdown at the end of the post here.

But, these figures are not exactly what they seem. Unfortunately, the NWMLS condo statistics are a bit skewed given the way the NWMLS classifies “condominium”. Previously, condos were comprised of individually owned single units/flats in a multi-unit building or complex. What we typically think of as traditional condos.

However, with the condomization and explosion of various housing types, the NWMLS has explanded the condominium classification. It now includes non-traditional condos such as townhomes, accessory dwelling units (ADUs), detached accessory dwelling units (DADUs), single family houses, house boats and moorage.

Non-traditional condos are typically newer, larger and higher priced than traditional condo units. In August, they accounted for 27.5% of all condo sales compared to only 17% a year ago. And, they had a median sales price of $799,000.

Excluding non-traditional condos, then the median sales price for typical, traditional condos in August was $530,000. That’s still a decent YoY increase of 6.3% and a whopping 24.7% rise over July 2025.

Northwest Seattle Example

Diving a bit deeper, let’s take a look at Northwest Seattle with its $675,000 median sales price, and had clocked in the highest YoY change of 26.2% for August. Like the citywide figures, the number of non-traditional property sales increased, here from 45% to 54% of all properties sold, and had a median sales price of $809,950. That was a 1.4% increase compared to the same period last year.

Traditional condos on the other hand reflected fewer sales, down from 55% to 46% of all condo sales. And, had a $417,000 median sales price, which reflected a 1.3% YoY decrease from last August. That’s just over $250,000 below the overall median of all “condos” for the area.

If you’re buying or selling a traditional condo at a typical condo building like Canal Station or Hjarta in Ballard, then the market is more volatile and much less robust than the published statistics may indicate.

More Listings, But At A Declining Rate

There were 1,000 active condo listings for sale at month end, reflecting an increase 23.6% YoY and a 5.3% dip compared to the prior month.

We started August with 1,056 listings and sellers added another 313 units for sale throughout the month for a total of 1,369 units. Of that number, 369 came off the market due to sales (e.g. pendings and closings), were expired or cancelled, rented or were temporarily taken off market.

Interestingly, the number of new listings coming to market slowed with 313 units in August. That’s 2.2% fewer compared to the same period last year and 23.8% fewer than the previous month. However, this is likely to increase in September as we historically experience a post-Summer bump in listings and sales. After that, listings will plunge through the remainder of the year.

The inventory supply rate edge upwards slightly to 4.7-months of supply due to fewer unit sales in August.

The inventory supply rate is a metric that classifies the current state of the real estate market. A rate of less than 4-months of supply is characterized as a seller’s market. A rate between 4 to 7-months is a balanced or normal market. And, a rate over 7-months is considered a buyer’s market.

With that said, buyers and sellers will encounter differing conditions based on their location and price points with Seattle’s real estate micro-markets. For example, North Seattle currently reflects a seller’s market with less than 4-months of supply, while downtown is an entrenched buyer’s market with over 8-months of supply.

Condos Sales Were Steady

There were 211 pending sales transactions – accepted offers in escrow – in August. This exhibited a year-over-year bump of 8.2%, but a dip of 12.1% from the prior month. The condo market had a more robust month compared to sales activity last year. We will likely see a September / October bump before the market cools off for the Fall holiday season.

The number of closings were lower with 193 units. That’s 1.5% and 6.8% fewer compared to last August and the previous month, respectively. Given the number of pendings in July and August, we may see closings increase with the September figures.

In Summary

The Seattle condo market ended summer on a positive note. Overall, median selling prices and unit sales activity outperformed August 2024 levels.

But, much of that was due to the sale of non-traditional condos such as townhomes, detached accessory dwelling units (DADUs) and condoized single family houses. Most of these are newer, and larger, high-end properties with premium prices that drove up the median sales price.

The market overall is holding steady in a balanced, normal market environment. Though, as a city comprised of housing micro-markets, buyers and sellers will experience a range from a seller’s market to a buyer’s market depending on locale and price points.

Seattle follows a cyclical, seasonal real estate pattern. With the close of Summer the market will slow through the remainder of the year. Though, we typically experience a last hurrah of sorts with a September/October boost before the Fall holiday season.

Seattle Condo Market Statistics August 2025

Source: Northwest Multiple Listing Service. Some figures were independently compiled by Seattle Condos And Lofts and were not published by the NWMLS.
© SeattleCondosAndLofts.com

The post Seattle Condo Market August 2025 Recap first appeared on Seattle Condos and Lofts.