kingcounty
RESIDENTIAL-JULY2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.5 SELLERS' MARKET
▶ MARKETSUMMARY Thenum berofresidentialhom esforsalein KingCountyin July,at2,420,was4% higher than lastm onth and 37% lowerthan lastyear. W ith 1,605 in July,residentialclosed sales were12% lowerm onth-over-m onth,and 14% dow n year-over-year. Therewas1.5m onthsofinventoryfor residentialhom esin July,reflecting selers' m arketconditions. Them edian sold pricein Julywas$900,000, 4% below June,and aboutthesam easJuly 2022. Theaveragesold price forresidentialhom es was$1,153,578,1.5% below lastm onth and 0.9% higherthan lastyear.
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
- VS 2022
0% VS 2022
▼ 37% VS 2022
▼ 14% VS 2022
PREVIOUSMONTH
THISMONTH No.
PREVIOUSYEAR
No. % Change
No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1,605 2,420
1,829 2,324
-1.5% -4% 19% -12% 4.1%
1,871 3,829
-0.9% 0% -26% -14% 37%
$1,153,578 $900,000 1.5
$1,170,587 $935,000 1.3
$1,163,510 $900,000 2.0
-
- -
-
-
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.85
1.78 1.76
$900,000 $880,000
$914,950 $900,000
$830,000 $799,900 $846,500
3,829
3,769
3,487
3,353
2,735
2,051 2,324 2,420
2,009
1,907
1,835
1,729 1,554
1,871 2,050 1,838
1,605
1,496 1,741 1,829 1,458
1,571
1,338 1,110
1,133
793
Jul-22 Jun-23 Jul-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
5.8
500
400
300
3.0
200
1.8
1.5
1.4
1.3
1.2
0 100
1.2
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
241 204 1.2
517 417 1.2
433 307 1.4
451 349 1.3
255 168 1.5
138 77 1.8
102 34 3.0
283 49 5.8
M onthsofInv. Closed Sales H om esforSale
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofAugust2 ,2023.Aldatafrom NorthwestMultipleListingService& Rennie.W hiletheinform ationanddatacontained 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 ationcontainedwithinthisreportshould notbeused asanopinionofvalue,suchopinionsshouldandcanbeobtained from arennieand as ociatesadvisor.Alinform ation issubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.
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