seattle PREVIOUSLY - OWNED CONDO - OCTOBER 2 0 2 3
MONTHS OF INVENTORY 4.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.4% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 9% VS 2022
▲ 22% VS 2022
▼ 7% VS 2022
There were 602 condo listings in Seattle in October, 11% above September and 22% higher than October 2022.
October condo sales decreased by 6% month-over-month, to 142, and were 7% below October 2022.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 152 495
% Change
No. 151 541
% Change
The months of inventory for condos in Seattle, at 4.2, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
142 602
1.4% 9% 9% 30% -7% 22%
5% 17% 10% 18% -6% 11%
The condo median price in October was $524,500, a 10% increase from September and 9% above October 2022. The average sold price was $618,337, 17% above last month; the average PSF sale price was $628, up 5% to last month.
$628 $618,337 $524,500 4.2
$619 $565,359 $480,000 326%
$596 $530,377 $477,000 3.6
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
26
602
478
541
495
456
420
420
487
352
20
371
18
288
282
200
191
261
175
158
133
152
111
142
177
150
151
118
85
$525K
$525K
$500K
$503K
$495K
$480K
$478K
$482K
$477K
$475K
$472K
$459K
$462K
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.
140
1
120
7.2
4+ bdrms
6.7
11
6.3
5.8
100
5.6
6
80
3 bdrms
46
3.6
3.5
3.3
60
2.8
70
40
2 bdrms
278
20
0
65
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES 48 132 2.8 18 121 6.7 26 87 3.3 13 76 5.8 11 40 3.6 5 28 5.6 4 25 6.3 8 28 3.5 9 65 7.2
267
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. 9 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online