king county RESIDENTIAL - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 1.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 16% VS 2023
▼ 3% VS 2023
▼ 6% VS 2023
There were 1,516 residential listings in King County in February, 21% above January and 3% lower than February 2023. February residential sales increased by 45% month-over-month, to 1,120, and were 6% below February 2023. The months of inventory for residential in King County, at 1.4, reflected a sellers' market.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,120 1,516
131% 1,191 1,558
12% 16% 3% -6% -3%
$1,172,947 $864,000 1.6 771 1,258
3% 9% -17% 45% 21%
The residential median price in February was $939,445, a 9% increase from January and 16% above February 2023.
$1,205,638 $939,445 1.4
The average sold price was $1,205,638, 3% above last month and up 12% to February 2023.
$1,073,018 $809,000
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,665
29
2,372
2,329
2,265
2,413
2,031
1,905
1,886
1,841
1,710
1,909
1,826
22
1,398
1,558
1,678
1,516
1,277
1,579
1,216
1,532
1,446
1,120
1,258
1,191
991
771
$940K
$939K
$919K
$910K
$900K
$900K
$895K
$879K
$875K
$864K
$850K
$854K
7
$809K
Feb-23
Jan-24
Feb-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
400
3.2
300
2.1
1.8
200
1.4
1.4
1.3
1.2
1.1
1.0
0.9
100
0
<$600K
$600K-799K
$800K-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M +
MOI INVENTORY SALES
147 154 1.0
262 374 1.4
210 279 1.3
149 139 0.9
119 132 1.1
59 69 1.2
40 72 1.8
54 76 1.4
33 69 2.1
47 152 3.2
Copyright © March 7, 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of March 7, 2024. All data from Northwest Multiple Listing Service & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E.
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