highlights • At4,385,August’stotalinventoryin KingCountyfel 3% m onth-over-m onth butwasstil atits second-highestlevelsinceO ctober2022.Thisdeclinewasgreaterthan thetypicalJuly-to-August shrinkageof1.1%. • O n ayear-over-yearbasis,totalinventorywasup 35% and washigheracros al hom etypes: townhom einventorywasup them ost(67%),folowed bycondos(59%)and single-fam ilyhom es (19%). • Theoveral m arketfavoured selersm arketin August,with only2.0 m onthsofinventory (M O I)— though thiswasthehighestlevelsinceJanuary2023.Al hom etypeswerein selers’ m arketter itorylastm onth,with M O I’sof1.5 forsingle-fam ilyhom es,3.0 fortownhom es,and 3.3 forcondos.
KINGCOUNTY THERENNIEADVANCE inventory
•
AUGUST2024
+ 19% vsAug2023
5,000
4,000
3,000
3,252 10 yrAugAvg
2,000
2,373
SINGLE-FAMILY HOME inventory
1,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
- 27% vs10yrAugAvg
﹍ 10yrAugustAverage
● August
+ 67% vsAug2023
1,000
989
800
600
592 10 yrAugAvg
400
TOWNHOME inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 67% vs10yrAugAvg
﹍ 10yrAugustAverage
● August
+ 59% vsAug2023
1,200
1,000
991
800
744 10 yrAugAvg
600
400
CONDO inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 33% vs10yrAugAvg
﹍ 10yrAugustAverage
● August
Inform ation and statisticsderived from NorthwestM ultipleListingService. Copyright© 2024ren iegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2024.W hiletheinform ationanddatacontainedhereinhasbe n obtained from sourcesde m ed reliable,ac uracycannotbeguarante d.renniegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacingany relianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim e withoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E. 5 ●
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