burien/normandy park SINGLE-FAMILY HOME - JULY 2 0 2 4
MONTHS OF INVENTORY 1.4 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 9% VS 2023
▲ 2% VS 2023
▼ 11% VS 2023
▼ 4% VS 2023
There were 113 single-family home listings in Burien/Normandy Park in July, 10% above June and 9% higher than July 2023. July single-family home sales decreased by 5% month-over-month, to 83, and were 2% above July 2023. The months of inventory for single-family home in Burien/Normandy Park, at 1.4, reflected a sellers' market. The single-family home median price in July was $675,000, a 2% increase from June and 4% below July 2023. The average sold price was $830,086, 13% above last month and down 11% to July 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$830,086 $675,000 1.4 83 113
$929,924 $700,000 1.3 81 104
6% 2% 9%
$731,740 $659,000 1.2 87 103
13% 2% 15% -5% 10%
-11% -4%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
111
41
113
103
40
104
96
87
100
99
36
82
83
81
71
71
69
66
78
72
56
67
67
66
60
59
52
50
48
$733K
$720K
$700K
$695K
$700K
$675K
$659K
$650K
$635K
$628K
$625K
$620K
$597K
Jul-23
Jun-24
Jul-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
80
4.5
70
4.0
4.0
60
50
40
1.7
30
1.1
20
0.5
10
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
MOI INVENTORY SALES
69 75 1.1
7 12 1.7
2 8 4.0
2 9 4.5
1 4 4.0
0 4 n/a
2 1 0.5
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. 16 ●
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