king county NEW CONSTRUCTION CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 2.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 24% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 48% VS 2023
▲ 32% VS 2023
▲ 40% VS 2023
▲ 87% VS 2023
There were 193 condo listings in King County in February, 8% below January and 40% higher than February 2023. February condo sales increased by 63% month-over-month, to 88, and were 87% above February 2023. The months of inventory for condos in King County, at 2.2, reflected a sellers' market. The condo median price in February was $907,500, a 6% increase from January and 32% above February 2023. The average sold price was $1,125,386, 22% above last month; the average PSF sale price was $858, down 1.5% to last month.
THIS MONTH No. $858 $1,125,386 $907,500 2.2 88 193
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$691 $760,944 $689,880 294% 47 138
24% 48% 32% -25% 87% 40%
$871 $925,765 $859,500 3.9 54 209
-1.5% 22% 6% -43% 63% -8%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
38
220
243
239
209
220
193
202
199
32
195
153
171
161
138
88
78
67
68
64
63
64
63
47
59
55
54
51
11
$910K
$908K
$850K
$860K
$806K
$790K
$769K
$738K
$735K
$732K
$700K
$700K
$690K
Feb-23
Jan-24
Feb-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
40
15
4.5
4+ bdrms
16
30
2.8
19
3 bdrms
20
2.2
2.1
33
2.1
1.6
1.6
1.5
36
10
2 bdrms
100
0
18
<$600K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES
<2 bdrms
16 33 2.1
10 22 2.2
8 36 4.5
10 28 2.8
6 9 1.5
8 13 1.6
7 15 2.1
23 37 1.6
44
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. 5 ●
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