Downtown Seattle Condo Downturn

The Seattle real estate market has seen a downtown Seattle condo downturn. There has been a dramatic increase in the condos available, but a decrease in those looking to buy Seattle condos, resulting in an increased condo inventory and dropped prices.

What are the reasons for this Seattle condo downturn?

1) Change in priority since the COVID-19 pandemic started
2) Low interest rates have forced decision making among sellers & buyers
3) Political unrest have created uncertainty