king county PREVIOUSLY - OWNED CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 2.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.1% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.2% VS 2022
▲ 4% VS 2022
▼ 6% VS 2022
▼ 9% VS 2022
There were 710 condo listings in King County in November, 16% below October and 6% lower than November 2022. November condo sales decreased by 21% month-over-month, to 299, and were 9% below November 2022. The months of inventory for condos in King County, at 2.4, reflected a sellers' market. The condo median price in November was $465,000, a 9% decrease from October and 4% above November 2022. The average sold price was $552,203, 8% below last month; the average PSF sale price was $515, down 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 330 754
% Change
No. 377 841
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
299 710
-9% -6%
-21% -16%
$515 $552,203 $465,000 2.4
$509 $545,519 $447,000 228%
4% 4%
$533 $598,091 $510,000 2.2
-3% -8% -9% 6%
1.1% 1.2%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
841
884
18
754
17
670
753
709
710
552
610
499
567
456
13
520
395
377
467
463
452
429
404
287
330
387
299
323
216
$510K
$500K
$495K
$499K
$490K
$490K
$485K
$475K
$465K
$447K
$449K
$450K
$440K
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.
200
8
9.0
4+ bdrms
19
150
42
3 bdrms
100
87
3.6
2.7
2.6
2.4
168
50
2.1
1.9
1.8
2 bdrms
1.3
375
0
81
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES 98 188 1.9 77 139 1.8 29 104 3.6 30 73 2.4 20 52 2.6 11 30 2.7 12 16 1.3 13 27 2.1 9 81 9.0
229
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. 6 ●
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