king county RESIDENTIAL - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 1.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2022
▲ 4% VS 2022
▼ 37% VS 2022
▼ 14% VS 2022
There were 1,277 residential listings in King County in December, 32% below November and 37% lower than December 2023. December residential sales decreased by 19% month-over-month, to 991, and were 14% below December 2023. The months of inventory for residential in King County, at 1.3, reflected a sellers' market. The residential median price in December was $853,950, a 3% decrease from November and 4% above December 2023. The average sold price was $1,127,994, 1.4% below last month and up 10% to December 2023.
THIS MONTH No. $1,127,994 $853,950 1.3 991 1,277
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
176% 1,146 2,012
10% 4% -27% -14% -37%
1,216 1,886
-1.4% -3% -17% -19% -32%
$1,143,963 $878,500 1.6
$1,023,714 $820,000
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,665
24
2,372
2,329
1,905 2,265
2,413
2,031
21
1,886
2,012
1,841
1,710
1,909
1,826
1,735
1,398
1,678
1,579
1,558
1,216
1,532
1,446
1,277
1,146
1,191
991
831
12
$940K
$919K
$910K
$900K
$900K
$895K
$879K
$875K
$850K
$854K
$820K
$800K
$809K
Dec-22
Nov-23
Dec-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
350
300
4.6
250
200
150
1.9
1.9
1.3
1.3
1.3
1.2
1.2
1.1
100
0.9
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
152 130 0.9
281 326 1.2
183 233 1.3
96 122 1.3
94 111 1.2
54 59 1.1
32 60 1.9
47 62 1.3
24 45 1.9
28 129 4.6
Copyright © January 8, 2024 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 January 8, 2024. 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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