king county RESIDENTIAL - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.4% VS 2022
▲ 2% VS 2022
▼ 25% VS 2022
▼ 24% VS 2022
There were 2,868 residential listings in King County in September, 1.8% above August and 25% lower than September 2022. September residential sales decreased by 15% month-over-month, to 1,446, and were 24% below September 2022. The months of inventory for residential in King County, at 2.0, reflected a sellers' market. The residential median price in September was $900,000, a 1.1% decrease from August and 2% above September 2022. The average sold price was $1,130,135, 6% below last month and up 1.4% to September 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,446 2,868
201% 1,911 3,838
1.4% 2% -1.2% -24% -25%
1,710 2,817
-6% -1.1% 20% -15% 1.8%
$1,130,135 $900,000 2.0
$1,201,021 $910,000 1.6
$1,114,686 $880,000
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
17
3,838
3,479
2,906
2,884
2,796
2,868
2,817
2,211
2,528
1,905
2,343
2,215
1,710
1,911
1,579
1,972
1,380
1,849
1,826
1,446
1,678
1,633
1,146
10
1,532
1,191
831
7
$940K
$919K
$907K
$910K
$900K
$900K
$880K
$875K
$850K
$830K
$820K
$800K
$809K
Sep-22
Aug-23
Sep-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
600
6.5
500
400
4.2
300
2.7
2.1
1.9
200
1.8
1.8
1.7
1.6
1.5
100
0
<$600K
$600K-799K
$800K-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M +
MOI INVENTORY SALES
246 357 1.5
337 609 1.8
245 507 2.1
180 283 1.6
146 256 1.8
91 153 1.7
69 132 1.9
55 149 2.7
33 138 4.2
44 284 6.5
Copyright © October 16, 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 October 16, 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.
●
4
Made with FlippingBook - professional solution for displaying marketing and sales documents online