The good news: According to the Northwest Multiple Listing Service, 50 units sold in Queen Anne for the month of April, compared to 44 units in April, 2010, during the end of the Homebuyer Tax Credit frenzy. The bad news, depending on your perspective: The average sales price per square foot in April 2011 was $309 ($273 Residential, $346 Condo). Down from $319 from April 2010 ($285 Residential, $348 Condo)
36% of the Queen Anne sales in April 2011 were either bank owned properties or short sales. Compared to just under 12% in 2010. However, keep in mind that several bank owned sales in April 2011 were high end condos taken back from the developer by the bank.
Just from my own observations I think Queen Anne condo sales are on their way to a modest recovery. Rents are rising in the area and it will be a matter of time before potential renters/buyers look at the low cost of condos (compared to the boom years) and decide it makes more econonic sense to buy rather than rent.