10/22/2026
Quick check-in on something I keep getting asked about: Seattle condos 🤔
While single-family homes are holding their ground, condos are having a moment — and not the good kind. Prices are down roughly 5-8% year-over-year, inventory keeps climbing, and units are sitting on the market longer than they used to.
The reasons stack up fast: HOA insurance premiums have gone through the roof, reserve requirements have gotten stricter, and a lot of older buildings are hitting owners with special assessments for repairs that can no longer be put off. Throw in the fact that downtown still hasn't fully shaken off its remote-work hangover, and you've got a market that's genuinely struggling.
Financing doesn't make it easier, either — lenders are picky about HOA budgets, reserves, insurance coverage, and overall building condition, and for good reason.
But not every neighborhood is telling the same story. Downtown and Belltown are feeling it the most, while the Eastside — Bellevue, Kirkland — and a lot of the outlying communities are holding up noticeably better.
✨ My advice, as always: if a Seattle condo has caught your eye, there is real opportunity in this market. Just do your homework on the HOA's financial health before you let the granite countertops sweep you off your feet.
I am working on TWO loans right now where the buyers have negotiated the HOA special assessment to be paid in full at closing, closing costs paid for by the seller AND additional funds from the seller towards the rate buydown. It's a win for my buyers who are taking advantage of the market. 💪🏼
Reach out if you have any questions or are considering a condo in our area!
