seattle NEW CONSTRUCTION CONDO - DECEMBER 2 0 2 3
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 27% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 37% VS 2022
▲ 11% VS 2022
▲ 33% VS 2022
▲ 36% VS 2022
There were 122 condo listings in Seattle in December, 13% below November and 33% higher than December 2023. December condo sales decreased by 3% month-over-month, to 38, and were 36% above December 2023. The months of inventory for condos in Seattle, at 3.2, reflected a sellers' market. The condo median price in December was $739,475, a 3% decrease from November and 11% above December 2023. The average sold price was $995,960, 20% above last month; the average PSF sale price was $825, up 26% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$825 $995,960 $739,475 3.2 38 122
28 92
27% 37% 11% -2% 36% 33%
$654 $831,211 $764,990 3.6 39 140
26% 20% -3% -11% -3% -13%
$648 $728,905 $665,000 329%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
17
144
140
156
134
151
136
122
104
100
114
92
99
92
60
11
49
47
10
40
36
49
38
46
42
39
28
31
9
$779K
$765K
$739K
$739K
$732K
$735K
$700K
$699K
$700K
$690K
$665K
$630K
$612K
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.
35
3
30
16.0
4+ bdrms
12
25
20
10
3 bdrms
20
15
6.5
6.0
10
18
4.0
2 bdrms
3.3
2.6
62
5
1.8
0.8
0
7
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 2 32 16.0 12 9 0.8 8 21 2.6 2 13 6.5 4 7 1.8 3 10 3.3 1 6 6.0 6 24 4.0
<2 bdrms
28
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. 8 ●
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