King County's condo prices continue to fall as market gets new inventory
Though home prices in the region are not climbing as dramatically as they once were, that doesn't mean that they're falling.
According to the latest Northwest Multiple Listing Service report, home prices for completed sales in April (the last month for which they have data) rose 2.4% across the 23-county system. Eight counties reported double-digit gains, as the hot market of King County continues to ripple outwards.
But six counties — including King — did see year-over-year decreases. And condos within King County in particular saw a fall.
While across the MLS counties condo prices dipped 3.2% as inventory jumped 75% compared to the same time last year, within King County those prices dropped about 9.6%, with inventory surging 122%.
https://www.msn.com/en-us/money/realestate/king-countys-condo-prices-continue-to-fall-as-market-gets-new-inventory/ar-AABEJ9W
The problem with condos is once HOA fees are factored in they're often not an affordable housing option.