king county NEW CONSTRUCTION CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 3.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 20% VS 2022
▲ 43% VS 2022
▲ 168% VS 2022
There were 221 condo listings in King County in November, 9% below October and 43% higher than November 2022. November condo sales increased by 5% month-over-month, to 67, and were 168% above November 2022. The months of inventory for condos in King County, at 3.3, reflected a sellers' market. The condo median price in November was $910,000, a 13% increase from October and 20% above November 2022. The average sold price was $923,106, 2% below last month; the average PSF sale price was $777, up 15% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$777 $923,106 $910,000 3.3 67 221
$724 $878,333 $759,000 620% 25 155
-47% 168% 43%
$674 $946,533 $806,033 3.8 64 244
15% -2% 13% -13% 5% -9%
7% 5% 20%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
33
220
244
240
221
203
195
153
151
171
155
25
161
138
137
78
63
64
67
47
43
63
64
59
55
51
25
14
11
$910K
$806K
$790K
$759K
$769K
$738K
$735K
$732K
$695K
$700K
$700K
$687K
$690K
Nov-22
Oct-23
Nov-23
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
50
9
17.0
4+ bdrms
26
40
14
30
3 bdrms
48
20
32
4.7
4.3
4.0
2 bdrms
10
2.9
101
2.2
1.3
0.7
0
12
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 51 17.0 10 43 4.3 8 23 2.9 8 32 4.0 6 28 4.7 14 10 0.7 12 26 2.2 6 8 1.3
<2 bdrms
46
Copyright © December 13, 2023 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of December 13, 2023. All data from Northwest Multiple Listing Service & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 5 ●
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