Is King County, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, King County has remained a Seller's Market.
Housing Prices
How much do homes in King County, WA cost?
Median Sold Price
$793,258
$482/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Summary: The median home sold price in King County was $793,258 in August 2023, down 0.9% from last year, and the median price per square foot was $482.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $415K | $404.5K | -2.5% |
2 Bedrooms | $605.6K | $599.5K | -1.0% |
3 Bedrooms | $802.8K | $784.4K | -2.3% |
4 Bedrooms | $1.0M | $1.0M | -0.8% |
5+ Bedrooms | $1.3M | $1.3M | +1.6% |
Summary: King County housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Counties
Kittitas County | $513.8K | $538.7K | +4.8% |
King County | $800.2K | $793.2K | -0.9% |
Snohomish County | $709.7K | $691.7K | -2.5% |
Pierce County | $534.6K | $520.3K | -2.7% |
Chelan County | $556.1K | $540K | -2.9% |
Housing Supply
How many homes are available in King County, WA?
Number of Homes For Sale
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
6,866 | 7,166 | +4.4% |
Summary: The King County real estate market had 7,166 homes for sale in August 2023, a 4.4% increase compared to July 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 487 | 544 | +11.7% |
2 Bedrooms | 1,501 | 1,625 | +8.3% |
3 Bedrooms | 2,181 | 2,245 | +2.9% |
4 Bedrooms | 1,818 | 1,829 | +0.6% |
5+ Bedrooms | 879 | 923 | +5.0% |
Summary: The King County housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
Jul 2023 | Aug 2023 | CHANGE |
---|---|---|
2,138 | 2,126 | -0.6% |
Asking Price vs. Sold Price
760 Homes Were Sold
Under Asking
579 Homes Were Sold
At Asking
787 Homes Were Sold
Over Asking
Summary: A total of 2,126 homes were sold or pending in King County in August 2023, down by 0.6% month-over-month. Of the 2,126 sold homes, 36% were sold under asking, 27% were sold at asking, and 37% were sold over asking.
Days on Market
How long does it take to sell a home in King County, WA?
Average Sale Time
Aug 2022 | Aug 2023 | CHANGE |
---|---|---|
22 Days | 22 Days | -0.1% |
Summary: Homes in King County had an average of 22 days on market in Aug 2023, down by 0.1% compared to last year.
Breakdown of Home Sale Times
1,646 Homes Were Sold
Under 30 Days
372 Homes Were Sold
In 30 - 90 Days
108 Homes Were Sold
Over 90 Days
Summary: During August 2023, 2126 homes were sold in King County; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.