king county PREVIOUSLY - OWNED CONDO - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 2.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.9% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2022
▲ 8% VS 2022
▲ 10% VS 2022
▼ 9% VS 2022
There were 1,018 condo listings in King County in October, 14% above September and 10% higher than October 2022. October condo sales decreased by 7% month-over-month, to 377, and were 9% below October 2022.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 416 929
% Change
No. 404 894
% Change
The months of inventory for condos in King County, at 2.7, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$533 $598,091 $510,000 2.7 377 1,018
1.9% 6% 8% 21% -9% 10%
1.8% 4% 2% 22% -7% 14%
The condo median price in October was $510,000, a 2% increase from September and 8% above October 2022. The average sold price was $598,091, 4% above last month; the average PSF sale price was $533, up 1.8% to last month.
$523 $565,983 $471,000 223%
$524 $573,628 $498,500 2.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
15
1,018
929
795
785
767
894
13
13
799
620
703 463
650
499
456
557
508
500 395
416
377
429
287
404
387
330
323
216
$510K
$500K
$495K
$499K
$490K
$490K
$485K
$471K
$475K
$447K
$449K
$450K
$440K
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.
250
9
5.2
4+ bdrms
23
200
4.0
3.7
3.5
77
3.1
150
3 bdrms
135
2.4
1.9
1.9
1.6
100
191
2 bdrms
517
50
0
100
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES
343
134 261 1.9
52 206 4.0
57 136 2.4
31 116 3.7
33 64 1.9
14 49 3.5
20 32 1.6
16 50 3.1
20 104 5.2
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. 6 ●
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