kingcounty
RESIDENTIAL-DECEMBER202
AVERAGEPSF PRICE - VS 2021
HOMES FOR SALE
MONTHS OF INVENTORY 1.8 SELLERS' MARKET
▶ MARKETSUMMARY Thenum berofresidentialhom esforsalein KingCountyin D ecem ber,at1,958,was30% lowerthan lastm onth and 263% higherthan lastyear. W ith 1,115 in D ecem ber,residentialclosed saleswere16% lowerm onth-over-m onth,and 42% down year-over-year. Therewas1.8m onthsofinventoryfor residentialhom esin D ecem ber,reflecting selers'm arketconditions. Them edian sold pricein D ecem berwas $813,750,2% below N ovem ber,and 0.2% below vsD ecem ber2021. Theaveragesold price forresidentialhom es was$1,010,713,3.5% below lastm onth and 5.7% higherthan lastyear.
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
▼ 6% VS 2021
▼ 0.2% VS 2021
▲ 263% VS 2021
▼ 42% VS 2021
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1,115 1,958
1,328 2,801
-17% -16% -30%
$1,071,463 $815,000 0.3 1,935 539 -
-6% -0.2% 530% -42% 263%
$1,010,713 $813,750 1.8
$1,047,762 $830,000 2.1
-4% -2%
-
- -
-
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.77 1.81
1.73
$999,900 $925,000
$815,000
$900,000 $900,000
$869,500
$813,750
3,817 3,791
3,424
3,398
3,482
2,801
2,568 2,502
2,381
2,209
1,958
1,935
2,283
1,871 2,049 1,837
1,1061,264
1,787
1,568
1,168
1,328 1,115
539
774
599
D ec-21 N ov-22 D ec-22
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
500
5.9
5.1
400
300
200
2.1
1.9
1.9
1.7
1.7
100
1.0
0
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
261 259 1.0
473 278 1.7
366 212 1.7
368 193 1.9
181 93 1.9
82 39 2.1
97 19 5.1
130 22 5.9
M onthsofInv. Closed Sales H om esforSale
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproduced ordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroup ofcom panies.CurentasofJanuary9,2023.Aldatafrom NorthwestMultipleListingService& Rennie.W hiletheinform ationand datacontained hereinhasbe nobtained from sourcesde m ed reliable,ac uracycannotbeguarante d.renniegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsasthe recipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontained withinthisreportshould notbeused asanopinionofvalue,suchopinionsshould and canbeobtained from arennieand as ociatesadvisor.Alinform ation issubjecttochangeand anypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroup ofcom panies.E.&O.E.
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