seattle RESIDENTIAL - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 2.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 4% VS 2022
▼ 3% VS 2022
▼ 5% VS 2022
▼ 12% VS 2022
There were 1,098 residential listings in Seattle in October, 1.5% above September and 5% lower than October 2022. October residential sales increased by 1.9% month-over-month, to 471, and were 12% below October 2022. The months of inventory for residential in Seattle, at 2.3, reflected a sellers' market. The residential median price in October was $880,000, a 2% decrease from September and 3% below October 2022. The average sold price was $1,024,551, 3% below last month and down 4% to October 2022.
THIS MONTH No. $1,024,551 $880,000 2.3 471 1,098
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,064,249 $906,100 216% 536 1,158
-4% -3% 8% -12% -5%
$1,053,298 $899,975 2.3 462 1,082
-3% -2% -0.5% 1.9% 1.5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
10
1,158
1,082
1,029
1,098
1,012
976
863
983
801
920 678
8
8
646
730
552
680
538
668
470
536
577
548
399
471
462
440
294
$906K
$910K
$900K
$885K
$883K
$875K
$875K
$883K
$880K
$865K
$850K
$800K
$800K
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
300
19.0
250
200
150
100
5.9
3.8
3.7
50
2.4
2.2
2.1
2.1
2.0
1.6
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
49 97 2.0
140 293 2.1
102 240 2.4
70 110 1.6
47 104 2.2
28 58 2.1
12 45 3.8
11 41 3.7
9 53 5.9
3 57 19.0
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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