kingcounty
RESIDENTIAL-MAY2023
AVERAGEPSF PRICE - VS 2022
HOMES FOR SALE
MONTHS OF INVENTORY 1.2 SELLERS' MARKET
▶ MARKETSUMMARY Thenum berofresidentialhom esforsalein KingCountyin M ay,at2,027,was2.8% higherthan lastm onth and 12% lowerthan lastyear. W ith 1,746 in M ay,residentialclosed sales were20% higherm onth-over-m onth,and 32% dow n year-over-year. Therewas1.2m onthsofinventoryfor residentialhom esin M ay,reflecting selers' m arketconditions. Them edian sold pricein M aywas$910,000, 4% aboveApril,and 9% below vsM ay2022. Theaveragesold price forresidentialhom es was$1,131,946,0.1% abovelastm onth and 9% higherthan lastyear.
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
▼ 9% VS 2022
▼ 9% VS 2022
▼ 12% VS 2022
▼ 32% VS 2022
THISMONTH No.
PREVIOUSMONTH
PREVIOUSYEAR
No. % Change
2,568 2,301 -9% -9% 30% -32% 12% - No. % Change -
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
1,746 2,027
1,458 1,971
0.1% 4% -14% 20% 2.8%
$1,131,946 $910,000 1.2
$1,130,974 $875,000 1.4
$1,246,233 $1,000,000 0.9
-
- -
▶ RATIO OFMEDIAN PRICES
▶ HISTORICALTREND
● RESIDENTIAL-TO-CONDO
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
1.87
1.75 1.77
$1,000,000
$910,000
$900,000 $880,000
$830,000 $799,900 $846,500
3,829
3,772
3,488
3,442
3,354
2,737
2,568
2,011
1,971 2,027
1,863
1,736 1,558
2,502
2,301
1,871 2,050 1,838
1,746
1,496
1,458
1,571
1,338 1,110
1,133
793
M ay-22 Apr-23 M ay-23
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
6.1
400
300
3.0
200
1.7
100
1.2
1.0
1.0
0.9
0.8
0
<$600K $600-799K $800-999K $1.0-1.49M $1.5-1.99M $2.0-2.49M $2.5-2.99M
$3M+
178 220 0.8
439 433 1.0
333 325 1.0
382 421 0.9
218 188 1.2
128 77 1.7
106 35 3.0
243 40 6.1
M onthsofInv. Closed Sales H om esforSale
Copyright© 2023renniegroup ofcom panies.Alrightsreserved.Thism aterialm aynotbereproduced ordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroup ofcom panies.CurentasofJune20,2023.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.
●
4
Made with FlippingBook - professional solution for displaying marketing and sales documents online