seatle
RESIDENTIAL-FEBRUARY2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.4 SELLERS' MARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
Thenum berofresidentialhom esforsalein Seatlein February,at578,was6% lowerthan lastm onth and 95% higherthan lastyear. W ith 424 in February,residentialclosed sales were48% higherm onth-over-m onth,and 11% dow n year-over-year. Therewas1.4m onthsofinventoryfor residentialhom esin February,reflecting selers'm arketconditions. Them edian sold pricein Februarywas $817,475,2% aboveJanuary,and 9% below vs February2022. Theaveragesold pricewas$915,422,2% below lastm onth and 11% higherthan last year.
▼ 11% VS 2022
▼ 9% VS 2022
▲ 95% VS 2022
▼ 11% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
424 578
286 617
-1.8% 2% -37% 48% -6%
477 297
-11% -9% 119% -11% 95%
$915,422 $817,475 1.4
$932,585 $800,000 2.2
$1,033,377 $900,000 0.6
-
- -
-
-
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.67 1.65
1.56
$996,000 $965,000
$910,000 $910,000 $875,000
$900,000
$817,475
1,237
1,113
1,080
1,016
933
920
841
803
780
664 617
845
578
655
477
668
581
563
517
516
456
424
352
391
286
297
Feb-22 Jan-23 Feb-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
18.5
150
100
5.8
50
4.0
2.8
1.2
1.1
1.1
1.1
0
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
68 61 1.1
168 140 1.2
119 113 1.1
85 79 1.1
56 20 2.8
16 4 4.0
29 5 5.8
37 2 18.5
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.
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