kingcounty
RESIDENTIAL-FEBRUARY2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.3 SELLERS' MARKET
▶ MARKETSUMMARY Thenum berofresidentialhom esforsalein KingCountyin February,at1,547,was13% lowerthan lastm onth and 99% higherthan lastyear. W ith 1,146 in February,residentialclosed saleswere45% higherm onth-over-m onth,and 9% down year-over-year. Therewas1.3m onthsofinventoryfor residentialhom esin February,reflecting selers'm arketconditions. Them edian sold pricein Februarywas $800,000,0%aboutthesam easJanuary,and 8% below vsFebruary2022. Theaveragesold price forresidentialhom es was$1,030,190,2% abovelastm onth and 8% higherthan lastyear.
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
▼ 8% VS 2022
▼ 8% VS 2022
▲ 99% VS 2022
▼ 9% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
-8% -8% 120% -9% 99% - No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1,146 1,547
$1,006,480 $799,900 2.2 793 1,769
2% 0% -39% 45% -13%
$1,116,958 $869,500 0.6 1,264 776 -
$1,030,190 $800,000 1.3
-
- -
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.78
1.67
1.67
$999,900 $925,000
$900,000 $901,500
$869,500
$820,000 $800,000
3,818 3,773
3,480
3,427
3,367
2,758
2,568 2,502
2,381
2,209
2,035
1,769 1,547
2,288
1,264
1,871 2,050 1,837
1,794
1,571
1,175
1,338 1,109
1,146
793
776
Feb-22 Jan-23 Feb-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
400
6.4
300
3.8
200
2.6
2.2
100
1.3
1.2
1.1
0.7
0
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
157 234 0.7
360 330 1.1
261 216 1.2
268 204 1.3
183 82 2.2
87 34 2.6
91 24 3.8
140 22 6.4
M onthsofInv. Closed Sales H om esforSale
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproduced ordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroup ofcom panies.CurentasofMarch14,2023.Aldatafrom NorthwestMultipleListingService& Rennie.W hiletheinform ationand datacontained hereinhasbe nobtained from sourcesde m ed reliable,ac uracycannotbeguarante d.renniegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsasthe recipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontained withinthisreportshould notbeused asanopinionofvalue,suchopinionsshould and canbeobtained from arennieand as ociatesadvisor.Alinform ation issubjecttochangeand anypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroup ofcom panies.E.&O.E.
●
4
Made with FlippingBook - professional solution for displaying marketing and sales documents online