king county CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 14% VS 2023
▲ 8% VS 2023
▲ 22% VS 2023
▲ 0.3% VS 2023
There were 586 condo listings in King County in March, 17% above February and 22% higher than March 2023.
March condo sales increased by 15% month-over-month, to 294, and were 0.3% above March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
% Change
No. 293 481
No. 255 503
% Change
The months of inventory for condos in King County, at 2.0, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
294 586
14% 14% 8% 21% 0.3% 22%
15% 17%
The condo median price in March was $495,500, a 3% decrease from February and 8% above March 2023. The average sold price was $624,613, 9% below last month; the average PSF sale price was $652, down 1.7% to last month.
$652 $624,613 $495,500 2.0
$574 $548,708 $460,000 1.64
$663 $689,810 $512,000 2.0
-1.7% -9% -3% 1%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
675
706
39
39
600
583
580
36
544
586
607
481
502
503
357
435
326
412
319
255
294
293
248
287
268
263
207
191
190
$512K
$492K
$496K
$474K
$469K
$470K
$460K
$460K
$460K
$460K
$453K
$453K
$450K
Mar-23
Feb-24
Mar-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
350
12.0
4+ bdrms
300
2
250
12
200
3 bdrms
44
150
3.7
100
148
2.7
2.6
2 bdrms
2.0
1.8
1.7
274
1.4
50
0
134
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+ MOI INVENTORY SALES 198 348 1.8 37 95 2.6 28 48 1.7 6 22 3.7 9 18 2.0 9 24 2.7 5 7 1.4 2 24 12.0
<2 bdrms
266
Copyright © April 10, 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 April 10, 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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