seattle RESIDENTIAL - FEBRUARY 2 0 2 4
MONTHS OF INVENTORY 1.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 24% VS 2023
▲ 16% VS 2023
▲ 15% VS 2023
▲ 5% VS 2023
There were 651 residential listings in Seattle in February, 19% above January and 15% higher than February 2023. February residential sales increased by 73% month-over-month, to 461, and were 5% above February 2023. The months of inventory for residential in Seattle, at 1.4, reflected a sellers' market. The residential median price in February was $929,900, a 12% increase from January and 16% above February 2023. The average sold price was $1,128,544, 8% above last month and up 24% to February 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No. 440 566
% Change
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
461 651
24% 16% 10% 5% 15%
267 546
8% 12% -31% 73% 19%
$1,128,544 $929,900 1.4
$1,047,294 $830,000 2.0
$913,276 $800,000 129%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
998
29
897
841
736
735
706
825
812 552
676
646
651
678
538
440 566
471
461
577
548
546
420 543
462
291
267
12
$930K
$910K
$912K
$900K
$885K
$883K
$880K
$875K
$865K
$850K
7
$840K
$830K
$800K
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
200
3.6
150
2.5
2.3
100
1.7
1.7
1.4
1.3
1.2
0.9
0.8
50
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
43 57 1.3
107 185 1.7
115 142 1.2
74 68 0.9
49 68 1.4
17 29 1.7
8 20 2.5
28 23 0.8
10 23 2.3
10 36 3.6
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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