bellevue PREVIOUSLY - OWNED CONDO - JANUARY 2 0 2 4
MONTHS OF INVENTORY 1.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 39% VS 2023
▼ 2% VS 2023
▼ 2% VS 2023
▼ 5% VS 2023
There were 42 condo listings in Bellevue in January, 19% below December and 5% lower than January 2023. January condo sales increased by 25% month-over-month, to 25, and were 39% above January 2023. The months of inventory for condos in Bellevue, at 1.7, reflected a sellers' market. The condo median price in January was $525,000, a 33% decrease from December and 2% below January 2023. The average sold price was $614,360, 29% below last month; the average PSF sale price was $565, down 21% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
25 42
18 44
-10% -2% -2% -31% 39% -5%
20 52
-21% -29% -33% -35% 25% -19%
$565 $614,360 $525,000 1.7
$627 $629,452 $535,844 244%
$713 $865,012 $780,000 2.6
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
78
51
71
63
67
55 46
55
52
51
56
44
53
52
44
39
47
42
44
41
30
34
25
29
29
20
18
20
18
$780K
$765K
$700K
$685K
$681K
$675K
$660K
$610K
$607K
$602K
$536K
$525K
$485K
Jan-23
Dec-23
Jan-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
9.0
8
4+ bdrms
6
4
3 bdrms
8
4
3.0
10
1.8
2 bdrms
1.3
2
26
1.0
1.0
0.8
0.6
0
11
<2 bdrms
<$400K $400-$499K $500-$599K $600-699K $700-799K $800-899K $800-999K $1.0M-1.24M $1.25M + MOI INVENTORY SALES
8
6 5 0.8
5 3 0.6
5 9 1.8
1 1 1.0
0 3 n/a
3 4 1.3
2 2 1.0
2 6 3.0
1 9 9.0
Copyright © February 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 February 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. 11 ●
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