seatle NEW CONSTRUCTION CONDO -AUGUST2023
AVERAGEPSF PRICE
HOMES FOR SALE ▲ 41% VS 2022
MONTHS OF INVENTORY 3.4 SELLERS' MARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
Therewere148 new construction condo hom esforsalein Seatlein August,5% lower than Julyand 41% higherthan August2022. A ugust'snew construction condoclosed sales were10% lowerm onth-over-m onth (at44), and wereup 144% year-over-year. Therewere3.4m onthsofinventoryin A ugust,reflecting selers'm arketconditions. Thenew construction condom edian sold price in Augustwas$732,470,5% aboveJuly,and 3% abovevsAugust2022. Theaveragesold pricewas$811,719,4% abovelastm onth,theaveragePSF salesprice was$672,down 6% lastm onth.
▲ 3% VS 2022
▼ 1.3% VS 2022
▲ 144% VS 2022
▼ 19% VS 2022
PREVIOUSMONTH
PREVIOUSYEAR
THISMONTH No. $672 $811,719 $732,470 3.4 44 148
No. % Change
-42% 144% 41% No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$714 $779,533 $699,950 3.2 49 155
-6% 4% 5% 6% -10% -5%
$825 $822,623 $712,475 5.8 18 105
-19% -1.3% 3%
▶ AVERAGEPERSQUAREFOOTPRICE
▶ HISTORICALTREND
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
$825
$732,470
$712,475 $789,000
$699,950 $699,475
$660,000 $682,625
$672
$571
$536
155
148
142
123
123
112
106
103
103
105 105
94
94
58 49 44
36
32
31 41
31
27
25
18
11
8
SEAT LE KING COUNTY
▶ NUMBEROFBEDROOMS
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
● CLOSED SALES ● HOMESFORSALE
6.5
6.5
10
50
3+ bdrms
39
5.0 4.8
40
4.8
31
30
2 bdrms
78
20
2.3
2.1
0 10
3
<2 bdrms
31
<$400K $400-599K $600-799K $800-999K $1.0-1.249M $1.25-1.49M $1.5-1.99M $2M +
5 1 5.0
29 6 4.8
51 24 2.1
24 5 4.8
13 2 6.5
9 4 2.3
13 2 6.5
M onthsofInv. Closed Sales H om esforSale
4 0
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproduced ordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroup ofcom panies.CurentasofAugust2 ,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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