king county PREVIOUSLY - OWNED CONDO - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2022
▼ 3% VS 2022
▼ 5% VS 2022
▼ 20% VS 2022
There were 889 condo listings in King County in September, 12% above August and 5% lower than September 2022. September condo sales decreased by 11% month-over-month, to 404, and were 20% below September 2022. The months of inventory for condos in King County, at 2.2, reflected a sellers' market. The condo median price in September was $498,500, a 0.7% increase from August and 6% above September 2022. The average sold price was $573,628, 15% below last month; the average PSF sale price was $524, down 8% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 502 940
% Change
No. 456 797
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
404 889
-3% -3% 6% 18% -20% -5%
-8% -15% 0.7% 26% -11% 12%
$524 $573,628 $498,500 2.2
$543 $590,976 $470,000 187%
$569 $675,499 $495,000 1.7
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
15
940
889
929
793
785
767
13
797
620
703
650
499
463
456
502
557
395
508
10
500
404
429
416
287
387
330
323
216
$500K
$499K
$495K
$485K
$490K
$490K
$475K
$470K
$471K
$449K
$450K
$447K
$440K
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.
10
7.3
200
4+ bdrms
22
150
62
3 bdrms
3.7
115
100
2.3
2.1
2.1
2.1
2.0
1.9
1.8
225
2 bdrms
50
444
0
107
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES
308
126 222 1.8
80 167 2.1
57 111 1.9
48 94 2.0
31 64 2.1
21 49 2.3
15 31 2.1
11 41 3.7
15 110 7.3
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. 6 ●
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