seattle NEW CONSTRUCTION CONDO - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 3.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.1% VS 2022
▲ 40% VS 2022
▲ 81% VS 2022
▼ 6% VS 2022
There were 173 condo listings in Seattle in October, 12% above September and 40% higher than October 2022.
October condo sales decreased by 4% month-over-month, to 47, and were 81% above October 2022.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Seattle, at 3.7, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$674 $879,470 $735,000 3.7 47 173
$752 $878,589 $784,500 477% 26 124
-10% 0.1% -6% -23% 81% 40%
$680 $800,062 $689,950 3.2 49 155
-0.8% 10% 7% 16% -4% 12%
The condo median price in October was $735,000, a 7% increase from September and 6% below October 2022. The average sold price was $879,470, 10% above last month; the average PSF sale price was $674, down 0.8% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
28
173
150
142
155
144
115
124
114
112
125
114
103
99
60
49
40
36
47
28
49
46
42
26
13
12
31
9
10
$785K
$779K
$739K
$732K
$735K
$719K
$700K
$699K
$700K
$690K
$665K
$630K
$612K
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.
50
6
5.8
4+ bdrms
40
18
5.0
4.7
30
9
3.4
3.3
3 bdrms
3.0
3.0
31
20
2.2
26
2 bdrms
10
83
0
6
<$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 47 4.7
9 20 2.2
9 30 3.3
3 15 5.0
4 12 3.0
5 17 3.4
3 9 3.0
4 23 5.8
41
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. 8 ●
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