west seattle CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 2.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 15% VS 2023
▲ 36% VS 2023
▲ 7% VS 2023
▼ 20% VS 2023
There were 34 condo listings in West Seattle in July, 17% above June and 36% higher than July 2023.
July condo sales increased by 25% month-over-month, to 15, and were 7% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in West Seattle, at 2.3, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
15 34
14 25
-10% -20% 15% 27% 7% 36%
12 29
-16% -8% -19% -6% 25% 17%
The condo median price in July was $530,000, a 19% decrease from June and 15% above July 2023. The average sold price was $654,230, 8% below last month; the average PSF sale price was $552, down 16% to last month.
$552 $654,230 $530,000 2.3
$616 $817,136 $462,500 1.8
$660 $713,500 $655,000 2.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
42
34
41
40
29
24
23
25
21
23
18
22 18
14
15
17
14
16
11
10 11
11
15
12
9
9
9
8
5
$780K
$710K
$655K
$640K
$530K
$510K
$510K
$500K
$483K
$463K
$450K
$450K
$403K
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.
20
2.3
4+ bdrms
1.9
15
1
1.0
3 bdrms
10
3
9
5
2 bdrms
19
0
5
<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
12
10 19 1.9
3 7 2.3
0 2 n/a
0 2 n/a
1 1 1.0
0 2 n/a
1 0 n/a
0 1 n/a
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. 52 ●
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