seattle NEW CONSTRUCTION CONDO - NOVEMBER 2 0 2 3
MONTHS OF INVENTORY 3.6 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 15% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.4% VS 2022
▲ 6% VS 2022
▲ 31% VS 2022
▲ 225% VS 2022
There were 141 condo listings in Seattle in November, 10% below October and 31% higher than November 2022. November condo sales decreased by 17% month-over-month, to 39, and were 225% above November 2022. The months of inventory for condos in Seattle, at 3.6, reflected a sellers' market. The condo median price in November was $764,990, a 4% increase from October and 6% above November 2022. The average sold price was $831,211, 5% below last month; the average PSF sale price was $654, down 3% 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
$654 $831,211 $764,990 3.6 39 141
$772 $828,283 $719,000 900% 12 108
-15% 0.4% 6% -60% 225% 31%
$674 $879,470 $735,000 3.3 47 157
-17% -10%
4% 8%
-3% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
33
144
157
134
152
141
137
28
104
100
108
114
99
92
92
60
49
47
40
36
49
39
28
46
42
31
9
12
11
$779K
$765K
$739K
$732K
$735K
$719K
$700K
$699K
$700K
$690K
$665K
$630K
$612K
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.
40
4
23.0
4+ bdrms
13
30
9
3 bdrms
20
25
22
10
5.7
2 bdrms
4.8
68
3.7
3.0
2.1
2.0
1.0
0
4
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 8 38 4.8 7 15 2.1 6 22 3.7 3 17 5.7 7 7 1.0 5 15 3.0 2 4 2.0 1 23 23.0
<2 bdrms
35
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. 8 ●
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