king county NEW CONSTRUCTION CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 2.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 45% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 34% VS 2022
▲ 22% VS 2022
▲ 45% VS 2022
▲ 58% VS 2022
There were 199 condo listings in King County in December, 10% below November and 45% higher than December 2023. December condo sales increased by 1.5% month-over-month, to 68, and were 58% above December 2023. The months of inventory for condos in King County, at 2.9, reflected a sellers' market. The condo median price in December was $850,087, a 7% decrease from November and 22% above December 2023. The average sold price was $1,052,882, 14% above last month; the average PSF sale price was $901, up 16% to last month.
THIS MONTH No. $901 $1,052,882 $850,087 2.9 68 199
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$619 $784,712 $695,000 319% 43 137
45% 34% 22% -8% 58% 45%
$777 $923,106 $910,000 3.3 67 220
16% 14% -7% -11% 1.5% -10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
24
220
239 243
220
199
202
195
153
151
171
161
137
17
138
78
67
64
63
68
47
64
63
59
43
55
51
11
14
$910K
$850K
$806K
$790K
$769K
$738K
$735K
$732K
$695K
$700K
$700K
$687K
$690K
Dec-22
Nov-23
Dec-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.
50
8
12.3
4+ bdrms
23
40
22
30
3 bdrms
40
20
4.3
22
3.1
2 bdrms
2.4
2.2
2.2
2.2
10
94
1.1
0
16
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 3 37 12.3 15 17 1.1 10 31 3.1 10 22 2.2 5 11 2.2 8 19 2.4 5 11 2.2 12 51 4.3
<2 bdrms
42
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. 5 ●
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