king county RESIDENTIAL - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.3% VS 2022
▼ 1.3% VS 2022
▼ 19% VS 2022
▼ 14% VS 2022
There were 2,833 residential listings in King County in October, 1.8% below September and 19% lower than October 2022. October residential sales decreased by 3% month-over-month, to 1,398, and were 14% below October 2022. The months of inventory for residential in King County, at 2.0, reflected a sellers' market. The residential median price in October was $895,000, a 0.6% decrease from September and 1.3% below October 2022. The average sold price was $1,137,743, 0.7% above last month and up 0.3% to October 2022.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,398 2,833
213% 1,633 3,479
0.3% -1.3% -5% -14% -19%
1,446 2,885
0.7% -0.6% 1.6% -3% -1.8%
$1,137,743 $895,000 2.0
$1,130,135 $900,000 2.0
$1,134,616 $907,000
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
14
3,479
2,906
2,885
2,885
2,796
2,833
2,824
2,211
2,528
2,343
1,905
2,215
1,710
10
1,579
1,972
1,633
1,849
1,826
1,678
1,398
1,146
1,532
1,446
1,380
8
1,191
831
$940K
$919K
$907K
$910K
$900K
$900K
$895K
$875K
$850K
$830K
$820K
$800K
$809K
Oct-22
Sep-23
Oct-23
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
700
600
6.0
500
400
3.6
3.2
3.1
300
2.1
2.0
1.8
1.8
200
1.4
1.4
100
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
208 295 1.4
355 649 1.8
251 519 2.1
189 257 1.4
134 271 2.0
89 156 1.8
45 138 3.1
47 151 3.2
35 127 3.6
45 270 6.0
Copyright © November 6, 2023 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 November 6, 2023. 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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