seattle NEW CONSTRUCTION CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 3.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2.0% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.8% VS 2023
▲ 29% VS 2023
▲ 278% VS 2023
▼ 0.6% VS 2023
There were 134 condo listings in Seattle in January, 10% above December and 29% higher than January 2023. January condo sales decreased by 11% month-over-month, to 34, and were 278% above January 2023. The months of inventory for condos in Seattle, at 3.9, reflected a sellers' market. The condo median price in January was $752,000, a 1.7% increase from December and 1.8% above January 2023. The average sold price was $833,363, 16% below last month; the average PSF sale price was $658, down 20% 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
$658 $833,363 $752,000 3.9 34 134
$645 $838,444 $739,000 1156% 9 104
2% -0.6% 1.8% -66% 278% 29%
$825 $995,960 $739,475 3.2 38 122
-20% -16% 1.7% 23% -11% 10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
37
144
140
156
134
151
134
136
122
100
104
114
28
99
92
60
49
47
40
38
36
49
46
34
42
39
31
9
$779K
10
$765K
$752K
$739K
$739K
$732K
$735K
$700K
$699K
$700K
$690K
$630K
$612K
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.
35
7
30
22.0
4+ bdrms
10
25
6
20
3 bdrms
23
15
10
16
2 bdrms
4.8
4.0
68
3.7
3.5
5
3.0
2.0
1.4
0
5
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 9 33 3.7 4 12 3.0 6 29 4.8 5 20 4.0 2 4 2.0 5 7 1.4 2 7 3.5 1 22 22.0
<2 bdrms
33
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. 8 ●
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