Condos

Condos seem to be the “X” factor in our market. According to the Northwest Multiple Listing Service (NWMLS), 3,044 new homes were sold through September 2006 compared to 806 new condos (King County only). But the NWMLS data doesn’t tell the entire story. New condos sold downtown are probably not included in the NWMLS report which only includes homes “Listed” for sale by agents. In this hot condo market many condos are being pre-sold without ever getting onto the NWMLS. Data furnished by the Talon Group Escrow and Title Services show there were 1,414 new condos sold, compared to 3,319 new homes through September 2006. According to Talon, condos make up 43 percent of the new construction market in King County.