king county NEW CONSTRUCTION CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.6% VS 2022
▲ 66% VS 2022
▲ 21% VS 2022
▼ 9% VS 2022
There were 257 condo listings in King County in September, 16% above August and 66% higher than September 2022. September condo sales increased by 25% month-over-month, to 64, and were 21% above September 2022. The months of inventory for condos in King County, at 4.0, reflected a sellers' market. The condo median price in September was $732,475, a 0.7% decrease from August and 9% below September 2022. The average sold price was $888,984, 8% above last month; the average PSF sale price was $665, down 1.5% 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
$665 $888,984 $732,475 4.0 64 257
$692 $875,068 $806,950 292% 53 155
-4% 1.6% -9% 37% 21% 66%
$676 $826,744 $737,500 4.3 51 221
25% 16%
-1.5% 8% -0.7% -7%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
15
257
238
221
216
175
174
164
164
194
184
155
153
148
9
78
63
64
47
43
42
53
63
59
55
51
14
25
4
$867K
$807K
$790K
$769K
$759K
$735K
$738K
$732K
$695K
$700K
$700K
$687K
$690K
Sep-22
Aug-23
Sep-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.
60
10
50
6.3
4+ bdrms
6.0
35
5.2
5.1
5.0
40
4.6
12
3 bdrms
30
55
2.7
20
1.7
36
2 bdrms
10
105
0
6
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
<2 bdrms
11 55 5.0
16 27 1.7
8 41 5.1
6 31 5.2
9 24 2.7
5 23 4.6
3 18 6.0
6 38 6.3
62
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. 5 ●
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