belltown/downtown seattle CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 7.2 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 20% VS 2023
▲ 14% VS 2023
▲ 25% VS 2023
▼ 18% VS 2023
There were 224 condo listings in Belltown/Downtown Seattle in July, 5% below June and 25% higher than July 2023. July condo sales decreased by 16% month-over-month, to 31, and were 18% below July 2023. The months of inventory for condos in Belltown/Downtown Seattle, at 7.2, reflected a buyers' market. The condo median price in July was $650,000, a 1.6% increase from June and 14% above July 2023. The average sold price was $917,289, 15% above last month; the average PSF sale price was $854, up 9% to last month.
PREVIOUS YEAR
No.
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$854 $917,289 $650,000 7.2 31 224
$807 $761,908 $572,500 4.7 38 179
6% 20% 14% 53% -18% 25%
$783 $795,961 $640,000 6.4 37 236
9% 15% 1.6% 13% -16% -5%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
236
59
219
224
192
185
179
49
183
149
47
170
159
155
133
123
51
49
39
29
27
38
22
18
31
37
35
33
30
$905K
$787K
$719K
$703K
$650K
$650K
$643K
$640K
$625K
$599K
$588K
$573K
$550K
Jul-23
Jun-24
Jul-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
100
18.0
4+ bdrms
80
3
60
1
3 bdrms
9.3
13
7.0
40
5.4
5.0
4.6
10
2 bdrms
20
87
0
20
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+ MOI INVENTORY SALES 1 18 18.0 0 6 n/a 3 15 5.0 10 93 9.3 11 51 4.6 5 27 5.4 0 7 n/a 1 7 7.0
121
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 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 August 6, 2024. 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. 15 ●
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