king county PREVIOUSLY - OWNED CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 2.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2022
▲ 4% VS 2022
▼ 10% VS 2022
▼ 20% VS 2022
There were 471 condo listings in King County in December, 34% below November and 10% lower than December 2023. December condo sales decreased by 23% month-over-month, to 229, and were 20% below December 2023. The months of inventory for condos in King County, at 2.1, reflected a sellers' market. The condo median price in December was $465,000, a 0% change from November and 4% above December 2023. The average sold price was $573,013, 4% above last month; the average PSF sale price was $510, down 0.9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 287 522
% Change
No. 299 709
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
229 471
3% 8% 4% 13% -20% -10%
-0.9% 4% 0% -13% -23% -34%
$510 $573,013 $465,000 2.1
$497 $530,629 $449,000 182%
$515 $552,203 $465,000 2.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
840
883
30
709
672
752
711
25
554
612
499
522
569
454
456
395
377
469
471
463
323
429
404
387
287
17
299
229
216
$510K
$500K
$495K
$499K
$490K
$490K
$485K
$475K
$465K
$465K
$449K
$450K
$440K
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.
120
3
6.3
4+ bdrms
100
14
80
35
3 bdrms
3.3
3.3
59
60
2.6
2.2
40
1.7
1.5
121
1.2
1.1
2 bdrms
243
20
0
70
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES 79 120 1.5 50 84 1.7 29 65 2.2 20 52 2.6 12 40 3.3 6 20 3.3 10 11 1.1 13 16 1.2 10 63 6.3
<2 bdrms
155
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. 6 ●
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