kingcounty
RESIDENTIAL-AUGUST2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.5 SELLERS' MARKET
▶ MARKETSUMMARY Thenum berofresidentialhom esforsalein KingCountyin August,at2,418,was0.5% lowerthan lastm onth and 31% lowerthan last year. W ith 1,641 in A ugust,residentialclosed sales were2% higherm onth-over-m onth,and 20% dow n year-over-year. Therewas1.5m onthsofinventoryfor residentialhom esin A ugust,reflecting selers' m arketconditions. Them edian sold pricein Augustwas $911,750,1.3% aboveJuly,and abovevs August2022. Theaveragesold price forresidentialhom es was$1,197,355,4% abovelastm onth and 7% higherthan lastyear.
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
- VS 2022
▲ 1.3% VS 2022
▼ 31% VS 2022
▼ 20% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
2,050 3,489 7% 1.3% -13% -20% 31% - No. % Change -
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1,641 2,418
1,607 2,431
4% 1.3% -3% 2% -0.5%
$1,197,355 $911,750 1.5
$1,153,724 $900,000 1.5
$1,115,260 $900,000 1.7
-
- -
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.86
1.76 1.74
$911,750
$900,000 $901,500
$935,000
$875,000
$820,000 $802,500
3,772
3,489
3,352
2,738
2,418
2,036 2,296 2,431
2,013
1,906
1,834
1,729 1,555
2,050 1,838
1,607
1,571
1,495 1,739 1,827 1,641 1,456
1,338 1,110
1,132
793
Aug-22 Jul-23 Aug-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
500 600
4.9
400
300
2.5
200
1.5
1.5
1.3
1.3
1.2
1.1
0 100
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
247 215 1.1
528 405 1.3
430 292 1.5
456 368 1.2
264 179 1.5
112 84 1.3
105 42 2.5
276 56 4.9
M onthsofInv. Closed Sales H om esforSale
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproduced ordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroup ofcom panies.CurentasofSeptem ber20,2023.Aldatafrom NorthwestMultipleListing Service& Rennie.W hiletheinform ationand datacontained hereinhasbe nobtained from sourcesde m ed reliable,ac uracycannotbeguarante d.renniegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takesteps astherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontained withinthisreportshould notbeused asanopinionofvalue,suchopinionsshould and canbeobtained from arennieand as ociatesadvisor.Al inform ationissubjecttochangeand anypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroup ofcom panies.E.&O.E.
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