Year End Condominium Sales Stats

2021 was a very mixed bag for Condo sales as the number of sales rose 17% on the eastside and 43% in Seattle compared to 2020. There was relatively no increase in price on Eastside and only 5% in Seattle even though there is less than ½ month of inventory.  Supply and demand do not seem to be driving a price surge yet.  However, “yet” is the key word here as skyrocketing residential home prices are going to drive buyers towards these opportunities. Increasing inflation will also allow investors to recoup more income from rentals.  There are a lot of signs pointing to 2022 seeing the largest increase in prices for the condo market since the mid 2000’s.