seattle RESIDENTIAL - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 1.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 3% VS 2022
▼ 4% VS 2022
▼ 17% VS 2022
▼ 27% VS 2022
There were 543 residential listings in Seattle in December, 26% below November and 17% lower than December 2023. December residential sales decreased by 31% month-over-month, to 291, and were 27% below December 2023. The months of inventory for residential in Seattle, at 1.9, reflected a sellers' market. The residential median price in December was $840,000, a 8% decrease from November and 4% below December 2023. The average sold price was $975,712, 10% below last month and down 3% to December 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 399 657
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
291 543
-3% -4% 13% -27% -17%
420 735
-10% -8% 7% -31% -26%
$975,712 $840,000 1.9
$1,084,249 $912,000 1.8
$1,002,549 $875,000 165%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
998
21
897
841
736
735
18
825
812
676 538
646
657
706
440 566
678
552
599
471
577
548
420
543
399
462
291
294
10
$910K
$912K
$900K
$875K
$885K
$875K
$883K
$880K
$865K
$850K
$840K
$800K
$800K
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
150
24+
100
50
3.0
2.3
2.1
2.0
2.1
2.1
1.9
1.6
1.6
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
28 57 2.0
103 164 1.6
74 117 1.6
28 54 1.9
24 50 2.1
13 27 2.1
7 15 2.1
8 18 2.3
5 15 3.0
1 26 26.0
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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