king county NEW CONSTRUCTION CONDO - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 4.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 55% VS 2022
▲ 52% VS 2022
▼ 3% VS 2022
▼ 7% VS 2022
There were 272 condo listings in King County in October, 5% above September and 55% higher than October 2022. October condo sales remained the same month-over-month, at 64, and were 52% above October 2022. The months of inventory for condos in King County, at 4.3, reflected a sellers' market. The condo median price in October was $806,033, a 10% increase from September and 7% below October 2022. The average sold price was $946,533, 6% above last month; the average PSF sale price was $674, up 1.4% 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
$674 $946,533 $806,033 4.3 64 272
$724 $980,427 $867,245 417% 42 175
-7% -3% -7% 2% 52% 55%
$665 $888,984 $732,475 4.0 64 258
5% 0% 5%
1.4% 6% 10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
258
25
272
238
222
216
174
164
164
194
175
184
153
148
15
78
15
64
63
47
64
43
63
42
25
59
55
51
14
$867K
$806K
$790K
$769K
$759K
$735K
$738K
$732K
$695K
$700K
$700K
$687K
$690K
Oct-22
Sep-23
Oct-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.
9
50
7.0
4+ bdrms
36
40
5.4
5.0
4.7
4.6
18
4.0
30
3 bdrms
55
2.9
20
2.1
30
2 bdrms
10
125
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 bdrms
10 54 5.4
10 29 2.9
9 42 4.7
7 32 4.6
11 23 2.1
7 28 4.0
3 15 5.0
7 49 7.0
56
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. 5 ●
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