king county PREVIOUSLY - OWNED CONDO - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 1.8 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 157% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 17% VS 2023
▲ 12% VS 2023
▲ 26% VS 2023
▲ 0.9% VS 2023
There were 573 condo listings in King County in February, 24% above January and 26% higher than February 2023. February condo sales increased by 38% month-over-month, to 326, and were 0.9% above February 2023. The months of inventory for condos in King County, at 1.8, reflected a sellers' market. The condo median price in February was $503,475, a 5% increase from January and 12% above February 2023. The average sold price was $610,259, 10% above last month; the average PSF sale price was $1,300, up 155% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 323 454
% Change
No. 236 463
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
326 573
157% 17% 12% 25% 0.9% 26%
38% 24%
$1,300 $610,259 $503,475 1.8
$506 $521,680 $449,950 141%
$510 $553,043 $478,750 2.0
155% 10% 5% -10%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
840
883
39
709
672
752
711
554
573
612
499
569
456
454
395
377
471
463
463
429
404
387
323
326
299
21
236
229
12
$510K
$503K
$500K
$495K
$499K
$490K
$490K
$485K
$479K
$475K
$465K
$465K
$450K
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.
160
11
3.5
140
4+ bdrms
14
120
2.5
100
57
1.9
1.9
3 bdrms
1.8
1.6
1.6
71
80
1.2
1.1
60
169
2 bdrms
40
271
20
0
89
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES 97 155 1.6 61 116 1.9 54 67 1.2 35 63 1.8 20 32 1.6 14 26 1.9 14 16 1.1 11 28 2.5 20 70 3.5
217
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. 6 ●
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