seatle NEW CONSTRUCTION CONDO -MAY2023
AVERAGEPSF PRICE
HOMES FOR SALE ▲ 30% VS 2022
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKETSUMMARY
AVERAGEPRICE
MEDIAN PRICE
CLOSED SALES
Therewere130 new construction condo hom esforsalein Seatlein M ay,13% higher than Apriland 30% higherthan M ay2022. M ay'snew construction condo closed sales were32% higherm onth-over-m onth (at41), and w ereup 3% year-over-year. Therewere3.2m onthsofinventoryin M ay, reflecting selers'm arketconditions. Thenew construction condom edian sold price in M aywas$787,000,12% aboveApril,and 0.7% below vsM ay2022. Theaveragesold pricewas$848,080,15% abovelastm onth,theaveragePSF salesprice was$671,down 12% lastm onth
▼ 0.7% VS 2022
▼ 20% VS 2022
▲ 3% VS 2022
▼ 30% VS 2022
PREVIOUSMONTH
PREVIOUSYEAR
THISMONTH No. $671 $848,080 $787,000 3.2 41 130
No. % Change
-30% -20% -0.7% 27% 3% 30% No. % Change
HOMESFORSALE CLOSED SALES MONTHSOFINVENTORY MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF
$759 $735,065 $699,950 3.7 31 115
-12% 15% 12% -15% 32% 13%
$953 $1,062,839 $792,650 2.5 40 100
▶ AVERAGEPERSQUAREFOOTPRICE
▶ HISTORICALTREND
● CLOSED SALES ● HOMESFORSALE ● MEDIAN PRICE
$953
$787,000
$792,650 $787,500
$593
$536
$705,000 $679,000 $713,500
$671
$627,500
122
115
130
111
106
106
106
100 111
94
99 104
93
40
36
32
31
28
31
27
41
25
12 18
11
8
SEAT LE KING COUNTY
▶ NUMBEROFBEDROOMS
▶ HOMESFORSALE&CLOSEDSALESBYPRICERANGE
SEL ERS'MARKET <4
BALANCED 4-6
BUYERS'MARKET 6+
● CLOSED SALES ● HOMESFORSALE ● MONTHSOFINVENTORY
● CLOSED SALES ● HOMESFORSALE
11.0
17
3+ bdrms
40
36
30
15
6.0
2 bdrms
20
61
4.8
3.0
10
2.3 2.7
2.0
9
1.9
<2 bdrms
33
0
<$400K $400-599K $600-799K $800-999K $1.0-1.249M $1.25-1.49M $1.5-1.99M $2M +
6 2 3.0
21 11 1.9
43 9 4.8
21 9 2.3
8 3 2.7
8 4 2.0
12 2 6.0
11 1 11.0
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.
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