seattle PREVIOUSLY - OWNED CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 3.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 2% VS 2023
▲ 19% VS 2023
▲ 2% VS 2023
There were 289 condo listings in Seattle in January, 7% above December and 19% higher than January 2023.
January condo sales decreased by 4% month-over-month, to 87, and were 2% above January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Seattle, at 3.3, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$598 $577,100 $485,000 3.3 87 289
$622 $548,425 $475,000 286% 85 243
-4% 5% 2% 16% 2% 19%
$588 $625,693 $470,000 3.0 91 270
1.7% -8% 3% 12% -4% 7%
The condo median price in January was $485,000, a 3% increase from December and 2% above January 2023. The average sold price was $577,100, 8% below last month; the average PSF sale price was $598, up 1.7% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
520
59
490
55
412
409
454
375
432
320
334
289
243
270
265
200
191
175
36
158
142
177
150
151
87
85
118
112
91
$525K
$525K
$500K
$503K
$495K
$488K
$485K
$478K
$482K
$477K
$475K
$472K
$470K
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.
60
1
9.8
4+ bdrms
4
50
8.0
40
4
3 bdrms
25
30
4.7
4.4
4.3
3.3
2.9
20
2.7
47
2.1
2 bdrms
127
10
0
35
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES
133
22 60 2.7
23 49 2.1
14 40 2.9
9 40 4.4
8 26 3.3
3 14 4.7
1 8 8.0
3 13 4.3
4 39 9.8
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. 9 ●
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