seattle RESIDENTIAL - SEPTEMBER 2 0 2 3
MONTHS OF INVENTORY 2.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.7% VS 2022
▼ 4% VS 2022
▼ 15% VS 2022
▼ 23% VS 2022
There were 1,075 residential listings in Seattle in September, 10% above August and 15% lower than September 2022. September residential sales decreased by 16% month-over-month, to 462, and were 23% below September 2022. The months of inventory for residential in Seattle, at 2.3, reflected a sellers' market. The residential median price in September was $899,975, a 1.9% increase from August and 1.7% above September 2022. The average sold price was $1,053,298, 2.0% below last month and down 4% to September 2022.
THIS MONTH No. $1,053,298 $899,975 2.3 462 1,075
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,099,866 $885,000 212% 597 1,267
-4% 1.7% 10% -23% -15%
552 981
-2% 1.9% 31% -16% 10%
$1,074,295 $883,000 1.8
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
14
1,267
1,158
1,029
1,012
1,075
976
863
981
801
920
646
10
730 399
552
680
678
597
668 538
470
577
548
536
462
440
7
294
$906K
$910K
$900K
$885K
$885K
$883K
$875K
$875K
$883K
$865K
$850K
$800K
$800K
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
300
8.9
250
7.7
200
150
100
2.9
2.4
2.3
2.3
2.2
2.2
2.2
1.4
50
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
57 124 2.2
118 283 2.4
102 231 2.3
76 105 1.4
41 90 2.2
24 53 2.2
15 44 2.9
16 37 2.3
6 46 7.7
7 62 8.9
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.
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