king county CONDO - JULY 2 0 2 4
MONTHS OF INVENTORY 3.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 25% VS 2023
▲ 8% VS 2023
▲ 63% VS 2023
▲ 13% VS 2023
There were 1,001 condo listings in King County in July, 5% above June and 63% higher than July 2023.
July condo sales decreased by 0.3% month-over-month, to 325, and were 13% above July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 287 613
% Change
No. 326 955
% Change
The months of inventory for condos in King County, at 3.1, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$651 $727,740 $490,000 3.1 325 1,001
13% 25% 8% 44% 13% 63%
4% 7% 0.7% 5% -0.3% 5%
The condo median price in July was $490,000, a 0.7% increase from June and 8% above July 2023. The average sold price was $727,740, 7% above last month; the average PSF sale price was $651, up 4% to last month.
$575 $582,096 $452,500 2.1
$624 $677,135 $486,495 2.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
955
47
1,001
874
41
41
731
720
654
692
559
613
623
591
494
479
347
319
294
325
255
248
287
326
311
263
207
191
190
$512K
$505K
$492K
$496K
$493K
$486K
$490K
$474K
$470K
$460K
$460K
$453K
$450K
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.
700
6.8
600
6.3
4+ bdrms
6
500
4.3
26
400
3.6
3.4
3 bdrms
79
2.9
2.7
300
1.6
200
172
2 bdrms
473
100
0
127
<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
443
217 638 2.9
48 171 3.6
23 62 2.7
4 27 6.8
7 24 3.4
6 38 6.3
3 13 4.3
17 28 1.6
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. 6 ●
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