"All Things Edmonds" Blog

October 2009 condo real estate sales statistics for Edmonds, WA

For October, the condo real estate market in Edmonds, WA was up. That's obviously a relative assessment but this month we saw a second month in a row of 30+ new listings on the market compared to previous months where only half as many new listings were put on market. This could show of confidence from condo owners that they are will be able to sell their homes in the condo real estate market in Edmonds, WA.

And their belief seems to be supported by the numbers too (see my chart). Pending sales for Edmonds condos nearly tripled from last month and are up by 15-fold from the last 12 months.  There were 17 completed sales this month and that number has been see-sawing back and forth but still holding steadily above 10 per month since May of this year.

To summarize:

• Condo sales in Edmonds are tracking steadily at around 15 per month;
  
• Most inventory is from the last 2 months which means that most other listings put on market prior to September that have not yet sold are Pending.
  
• New condo listings in Edmonds are also up signficantly.

Prognosis: It seems that the Edmonds condo market is picking up a bit. I'm seeing slightly stronger demand from buyers recently too. It is hard to say for sure how much is due to the first time home-buyer tax credit - which looks like it is close to being both extended and expanded - and how much is due just to buyer sentiment about a better real estate market and economy in general.  But we'll take the good news for what it is: good news.

As for average condo prices in Edmonds, both average sales price and asking price are still below year-ago levels but are up from earlier this year. They rallied the first part of the year and then fell again the past several months but are still tracking around $300,000.

Because Edmonds has such a wide variety of condos - from your modest complex in Meadowdale to the high end project at Point Edwards - I might try and run some anaysis that breaks down these differences.  Let me know if that would interest you as readers.