king county PREVIOUSLY - OWNED CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.1% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▲ 9% VS 2023
▲ 9% VS 2023
▼ 1.3% VS 2023
There were 463 condo listings in King County in January, 1.7% below December and 1.3% lower than January 2023. January condo sales increased by 3% month-over-month, to 236, and were 9% above January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 216 469
% Change
No. 229 471
% Change
The months of inventory for condos in King County, at 2.0, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
236 463
1.1% 9% 9% -10% 9% -1.3%
-0.1% -3% 3% -5% 3% -1.7%
The condo median price in January was $478,750, a 3% increase from December and 9% above January 2023. The average sold price was $553,043, 3% below last month; the average PSF sale price was $510, down 0.1% to last month.
$510 $553,043 $478,750 2.0
$504 $506,943 $440,000 217%
$510 $573,013 $465,000 2.1
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
840
883
42
39
709
672
752
711
554
612
499
569
456
469
463
395
377
471
463
454
323
429
299
404
387
25
236
216
229
$510K
$500K
$495K
$499K
$490K
$490K
$485K
$479K
$475K
$465K
$465K
$450K
$440K
Jan-23
Dec-23
Jan-24
▶ 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.
120
4
6.2
4+ bdrms
100
9
80
42
3.5
3 bdrms
54
60
3.0
2.9
2.0
1.9
40
1.6
1.5
1.5
129
2 bdrms
236
20
0
61
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES 78 115 1.5 52 76 1.5 41 66 1.6 18 54 3.0 14 40 2.9 12 23 1.9 6 12 2.0 6 21 3.5 9 56 6.2
164
Copyright © February 7, 2024 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 February 7, 2024. 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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