seatle
RESIDENTIAL-JULY2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.7 SELLERS' MARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
Thenum berofresidentialhom esforsalein Seatlein July,at867,was1.3% lowerthan lastm onth and 20% lowerthan lastyear. W ith 518 in July,residentialclosed salesw ere 17% lowerm onth-over-m onth,and 21% down year-over-year. Therewas1.7m onthsofinventoryfor residentialhom esin July,reflecting selers' m arketconditions.
▼ 9% VS 2022
▼ 7% VS 2022
▼ 20% VS 2022
▼ 21% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
518 867
625 878
-4% -3% 19% -17% -1%
$1,166,445 $950,000 1.6 655 1,078 -
1.7% -21% 20%
Them edian sold pricein Julywas$885,750, 3% below June,and 7% below vsJuly2022.
$1,061,215 $885,750 1.7
$1,108,872 $915,000 1.4
-9% -7%
Theaveragesold pricewas$1,061,215,4% below lastm onth and 9% higherthan lastyear.
-
- -
-
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.86
1.66 1.71
$950,000 $890,000 $889,500
$890,000 $885,750
$850,000
$800,000
1,238
1,111
1,078
1,018
916
878
867
711 752
677
661 600
565
655
648 625
668
518
563
517
514 541
456
418
391
286
Jul-22 Jun-23 Jul-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
250
12.8
200
150
100
0 50
2.5
2.1
2.1
1.7
1.5
1.4
1.3
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
100 47 2.1
227 152 1.5
171 120 1.4
160 119 1.3
74 44 1.7
36 17 2.1
35 14 2.5
64 5 12.8
M onthsofInv. Closed Sales H om esforSale
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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