the seattle rennie review | November 2024

the seattle rennie review DATA-DRIVEN INSIGHTS INTO SALES, LISTINGS, AND PRICING TRENDS FOR KING COUNTY

published November 2024

table of contents

02 INTRO

03 WHAT YOU NEED TO KNOW

MARKET AREA PROFILES

Each month, we release the rennie review, a detailed look at the real estate marketplace in King County. This report examines our take on the latest NWMLS data, overarching market conditions, and detailed sub-market stats.

04 King County 07 Ballard/Green Lake 10 Bellevue East of 405 13 Bellevue West of 405 15 Belltown/Downtown Seattle 16 Burien/Normandy Park 19 Capitol Hill/Central Seattle 22 Des Moines 25 Eastside South 28 Kent 31 Kirkland 34 Lake Forest Park 35 Mercer Island 36 North Seattle 39 Queen Anne/Magnolia 42 Renton 45 Richmond Beach/Shoreline 46 SODO/Beacon Hill 48 Southeast Seattle 50 West Seattle 53 Snohomish Count 56 Pierce County

Ryan Berlin SENIOR ECONOMIST VICE PRESIDENT, INTELLIGENCE rberlin@rennie.com

59 AREA MAPS

61 GLOSSARY

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 November 12, 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.

2

an election that could trump higher sales King County saw its largest September-to-October increase in sales in at least 11 years. Whether this momentum can be maintained is unknown with so much renewed uncertainty for the trajectory of inflation and interest rates.

5.99% and 6.78%, respectively, on November 14th. That’s roughly 70 basis points higher than one month prior. Should rates remain elevated, or move even higher, that would put the brakes on improving housing affordability conditions and be a headwind to higher home sales activity. On that note, sales in King County in October did show signs of improvement. There were 2,431 closed MLS sales last month, an increase of 27% month-over-month that was a stark contrast to typically flat sales between September and October. In fact, this was the largest September-to-October gain in data going back to 2013, seconded by a much smaller 14% month-over-month gain in October 2018. Relative to October 2023, sales were up 31% to mark the largest year-over-year sales gain of any month since June 2021. Despite all of that, the market has a long way to go before it’s back to more typical levels of activity. Sales were still 17% below the prior 10-year October average of 2,928. With so much renewed uncertainty on the trajectory of inflation and interest rates, closing that deficit could take longer than previously expected.

Donald Trump will become the 47th President of the United States after winning 312 electoral college seats and 50.1% of the popular vote in the November 5th presidential election. In addition to winning the White House, the Republican Party earned a majority in the Senate with 53 seats, and will hold on to its majority in the House with 218 seats. As a result, Republicans will have free reign to implement policy as they see fit, with potentially significant implications for the U.S. economy. Stock markets soared in the immediate aftermath of the election in anticipation of significant reductions in corporate taxes and regulation. The S&P 500 rose 2.5% on November 6th and pushed higher to a record close of 6,001 on November 11th before paring some of those gains in the days following. But while anticipated policy measures from a new administration may be a boon for corporate earnings, the implications for inflation would be less favorable. Trump’s campaign promise of a blanket 10-20% tariff on foreign imports (and even higher tariffs on China) would significantly increase the

cost of consumer goods. Mass deportations would disrupt already tight labor markets, and sweeping tax cuts would add to record high government deficits. All of that is inflationary. Of course, this is all contingent on what policies actually get implemented when the new administration is sworn into office in January. That is why Federal Reserve Chair Jerome Powell had so little to say when responding to questions about the impact that Trump’s policies could have on inflation and policy decisions at the Fed. “The answer is not obvious until we see the actual policies,” Powell said. “I don’t want to speculate.” Others are speculating though. After the Fed cut its key policy rate by 25 basis points to 4.50-4.75% on November 7th, economists are forecasting fewer interest rate cuts through 2025 and a higher terminal rate than what was expected mere months ago. As well, government bond yields have climbed significantly in the weeks leading up to and following the election, which has implications for mortgage rates. Rates for 15- and 30-year fixed mortgages settled at

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 November 12, 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.

3

king county SINGLE-FAMILY HOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 1.3 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 10% VS 2023

▲ 12% VS 2023

▲ 12% VS 2023

▲ 36% VS 2023

There were 2,179 single-family home listings in King County in October, 14% below September and 12% higher than October 2023. October single-family home sales increased by 30% month-over-month, to 1,732, and were 36% above October 2023. The months of inventory for single-family home in King County, at 1.3, reflected a sellers' market. The single-family home median price in October was $1,008,200, a 3% decrease from September and 12% above October 2023. The average sold price was $1,282,111, 1.6% below last month and up 10% to October 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

1,732 2,179

1,270 1,939

10% 12% -18% 36% 12%

1,330 2,521

-1.6% -3% -34% 30% -14%

$1,282,111 $1,008,200 1.3

$1,303,057 $1,037,235 1.9

$1,169,923 $900,000 1.5

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

2,544

2,521

42

40

2,365

38

1,962

1,939

2,179

2,154

1,756

1,604

1,914

1,596

1,572

1,732

1,727

1,307

1,239

1,270

1,0441,035

1,325

1,330

1,172

1,096

973

907

690

$1.06M $1.05M $1.10M $1.02M

$1.02M $1.05M $1.05M $1.04M $1.01M

$917K

$900K

$900K

$890K

Oct-23

Sep-24

Oct-24

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET < 4

BALANCED 4 - 6

BUYERS' MARKET 6+

● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY

8.5

1000

7.4

800

6.3

600

3.0

400

1.6

1.2

1.2

1.2

1.0

200

0.9

0

<$1M 850 1,034 1.2

$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

237 241 1.0

200 230 1.2

226 195 0.9

105 127 1.2

35 105 3.0

58 95 1.6

7 44 6.3

4 34 8.5

10 74 7.4

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 November 12, 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. 4 ●

king county TOWNHOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 2.8 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 1.6% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 7% VS 2023

▲ 1.4% VS 2023

▲ 64% VS 2023

▲ 14% VS 2023

There were 1,049 townhome listings in King County in October, 3% below September and 64% higher than October 2023. October townhome sales increased by 15% month-over-month, to 373, and were 14% above October 2023. The months of inventory for townhomes in King County, at 2.8, reflected a sellers' market. The townhome median price in October was $750,000, a 4% decrease from September and 1.4% above October 2023. The average sold price was $822,610, 4% below last month; the average PSF sale price was $530, down 77% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No. 328 638

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$530 $822,610 $750,000 2.8 373 1,049

1.6% 7% 1.4% 45% 14% 64%

$2,314 $854,231 $784,000 3.3 325 1,076

-77% -4% -4% -15% 15% -3%

$521 $767,017 $739,995 1.9

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,076

53

1,049

954

50

857

995

724

43

589

638

559

529

505

479

367

466

335

463

439

373

421

328

357

338

325

269

235

222

$800K

$798K

$785K

$782K

$784K

$773K

$761K

$750K

$740K

$739K

$739K

$730K

$721K

Oct-23

Sep-24

Oct-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.

350

24.0

42

300

4+ bdrms

169

250

164

200

3 bdrms

443

150

158

100

6.0

2 bdrms

394

3.9

3.3

3.2

50

2.5

2.1

2.1

0

9

<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 98 243 2.5 103 336 3.3 89 191 2.1 47 97 2.1 20 78 3.9 10 32 3.2 2 48 24.0 4 24 6.0

43

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 November 12, 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. 5 ●

king county CONDO - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 3.4 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 2% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 4% VS 2023

▲ 4% VS 2023

▲ 43% VS 2023

▲ 23% VS 2023

There were 1,031 condo listings in King County in October, 6% below September and 43% higher than October 2023. October condo sales increased by 29% month-over-month, to 306, and were 23% above October 2023. The months of inventory for condos in King County, at 3.4, reflected a sellers' market. The condo median price in October was $477,500, a 7% decrease from September and 4% above October 2023. The average sold price was $615,832, 6% below last month; the average PSF sale price was $599, down 2.0% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No. 248 720

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$599 $615,832 $477,500 3.4 306 1,031

16% 23% 43%

$611 $654,542 $514,390 4.6 237 1,098

-2% -6% -7% -27% 29% -6%

$585 $594,268 $460,000 2.9

2% 4% 4%

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,098

54

1,001

1,031

955

52

874

994

43

720

654

559

692

294 591

494

347

479

325

308

255

306

326

248

311

237

207

191

190

$512K

$514K

$505K

$496K

$493K

$492K

$486K

$490K

$478K

$470K

$465K

$460K

$460K

Oct-23

Sep-24

Oct-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

7.0

2 1

4+ bdrms

600

5.0

4.7

500

25

3.6

3 bdrms

3.5

400

75

3.0

2.9

2.6

300

158

200

2 bdrms

515

100

0

122

<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

439

204 707 3.5

54 138 2.6

18 64 3.6

7 20 2.9

4 28 7.0

10 30 3.0

3 14 4.7

6 30 5.0

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 November 12, 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 ●

ballard/greenlake SINGLE-FAMILY HOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 1.0 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 7% VS 2023

▲ 1.7% VS 2023

▲ 43% VS 2023

▲ 63% VS 2023

There were 144 single-family home listings in Ballard/Greenlake in October, 3% above September and 43% higher than October 2023. October single-family home sales increased by 37% month-over-month, to 140, and were 63% above October 2023. The months of inventory for single-family home in Ballard/Greenlake, at 1.0, reflected a sellers' market. The single-family home median price in October was $1,002,500, a 7% decrease from September and 1.7% above October 2023. The average sold price was $1,163,493, 3% below last month and up 7% to October 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

140 144

$1,090,849 $985,750 1.2 86 101

7% 1.7% -12% 63% 43%

102 140

-3% -7% -25% 37% 3%

$1,163,493 $1,002,500 1.0

$1,194,410 $1,074,500 1.4

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

145

137

35

144

125

140

140

133

125

30

103

99

29

96

113

101

104

102

86

92

69

84

82

61

55

73

66

55

41

$1.16M

$1.08M

$1.07M $1.00M

$1.02M

$986K

$990K

$995K

$986K $1.04M

$975K

$945K

$905K

Oct-23

Sep-24

Oct-24

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET < 4

BALANCED 4 - 6

BUYERS' MARKET 6+

● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY

70

2.4

60

50

1.3

40

0.9

0.9

0.7

30

20

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

67 62 0.9

29 21 0.7

21 19 0.9

15 19 1.3

5 12 2.4

0 10 n/a

2 0 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 November 12, 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. 7 ●

ballard/greenlake TOWNHOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 2.5 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 4% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 4% VS 2023

▲ 5% VS 2023

▲ 17% VS 2023

▲ 8% VS 2023

There were 165 townhome listings in Ballard/Greenlake in October, 8% below September and 17% higher than October 2023. October townhome sales increased by 46% month-over-month, to 67, and were 8% above October 2023. The months of inventory for townhomes in Ballard/Greenlake, at 2.5, reflected a sellers' market. The townhome median price in October was $840,000, a 8% increase from September and 5% above October 2023. The average sold price was $867,430, 9% above last month; the average PSF sale price was $589, down 95% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$589 $867,430 $840,000 2.5 67 165

$568 $831,501 $799,500 2.3 62 141

4% 4% 5% 8% 8% 17%

$13,068 $793,652 $777,450 3.9 46 180

-95% 9% 8% -37% 46% -8%

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

180

52

168

165

153

49

47

141

159

114

119

89

82

74

96

70

87

63

84

84

79

67

62

73

71

63

57

52

46

$840K

$827K

$825K

$805K

$812K

$800K

$799K

$800K

$789K

$780K

$777K

$770K

$763K

Oct-23

Sep-24

Oct-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.

8.0

60

6

4+ bdrms

7.0

22

50

40

38

3 bdrms

64

30

2.8

2.0

20

23

1.6

2 bdrms

1.0

72

10

0

<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 3 21 7.0 22 62 2.8 31 50 1.6 9 18 2.0 1 8 8.0 0 5 n/a 1 1 1.0

7

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 November 12, 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. 8 ●

ballard/greenlake CONDO - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 3.0 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 0.0% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 11% VS 2023

▲ 19% VS 2023

▲ 126% VS 2023

▲ 30% VS 2023

There were 77 condo listings in Ballard/Greenlake in October, 4% below September and 126% higher than October 2023. October condo sales increased by 53% month-over-month, to 26, and were 30% above October 2023. The months of inventory for condos in Ballard/Greenlake, at 3.0, reflected a sellers' market. The condo median price in October was $479,000, a 14% increase from September and 19% above October 2023. The average sold price was $483,683, 9% above last month; the average PSF sale price was $560, up 3% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

26 77

20 34

0% 11% 19% 74% 30% 126%

17 80

3% 9% 14% -37% 53% -4%

$560 $483,683 $479,000 3.0

$560 $435,450 $403,500 1.7

$542 $444,676 $420,000 4.7

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

52

77

71

80

60

51

61

42

39

40

21 33

32

42 25

34

27

24

24

21

26

20

27

20

20

17

17

7

14

$479K

$465K

$470K

$456K

$458K

$450K

$450K

$450K

$440K

$440K

$430K

$420K

$404K

Oct-23

Sep-24

Oct-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.

70

3.1

60

4+ bdrms

2.3

50

1 1

40

3 bdrms

1.0

30

10

20

2 bdrms

34

10

0

15

<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

42

21 66 3.1

4 9 2.3

1 1 1.0

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 November 12, 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. 9 ●

bellevue east of 405 SINGLE-FAMILY HOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 0.8 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 10% VS 2023

▲ 10% VS 2023

▲ 7% VS 2023

▲ 24% VS 2023

There were 48 single-family home listings in Bellevue East of 405 in October, 21% below September and 7% higher than October 2023. October single-family home sales increased by 35% month-over-month, to 62, and were 24% above October 2023. The months of inventory for single-family home in Bellevue East of 405, at 0.8, reflected a sellers' market. The single-family home median price in October was $1,601,500, a 8% decrease from September and 10% above October 2023. The average sold price was $1,957,788, 6% below last month and up 10% to October 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

62 48

50 45

10% 10% -14% 24% 7%

46 61

-6% -8% -42% 35% -21%

$1,957,788 $1,601,500 0.8

$2,073,792 $1,750,000 1.3

$1,785,456 $1,450,000 0.9

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

36

70

35

77

35

74

62

61

56

63

60

58

57

50

43

43

48

37

46

45

45

35

39

37

36

21

24

22

16

$1.78M

$1.75M

$1.60M $1.60M $1.55M

$1.60M

$1.58M $1.50M

$1.56M $1.68M $1.62M $1.66M

$1.45M

Oct-23

Sep-24

Oct-24

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET < 4

BALANCED 4 - 6

BUYERS' MARKET 6+

● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY

20

4.0

4.0

15

10

1.4

0.7

0.6

0.6

5

0.3

0.3

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

1 4 4.0

6 2 0.3

16 9 0.6

19 6 0.3

7 5 0.7

5 3 0.6

7 10 1.4

0 3 n/a

0 2 n/a

1 4 4.0

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 November 12, 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. 10 ●

bellevue east of 405 TOWNHOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 2.9 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 4% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 0.1% VS 2023

▲ 146% VS 2023

▼ 5% VS 2023

▼ 21% VS 2023

There were 32 townhome listings in Bellevue East of 405 in October, 3% above September and 146% higher than October 2023. October townhome sales decreased by 15% month-over-month, to 11, and were 21% below October 2023. The months of inventory for townhomes in Bellevue East of 405, at 2.9, reflected a sellers' market. The townhome median price in October was $920,000, a 46% increase from September and 0.1% above October 2023. The average sold price was $870,727, 1.3% above last month; the average PSF sale price was $575, up 7% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

11 32

14 13

-4% -5% 0.1% 213% -21% 146%

13 31

7% 1.3% 46% 22% -15% 3%

$575 $870,727 $920,000 2.9

$596 $917,929 $919,500 0.9

$535 $859,692 $630,000 2.4

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

49

32

32

31

26

40

20

19

19

16

20

35

14

14

13

12

13

11

14

9

11

12

11

9

8

8

7

6

4

$982K

$920K

$920K

$902K

$870K

$870K

$820K

$815K

$753K

$750K

$703K

$630K

$585K

Oct-23

Sep-24

Oct-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.

12

6.0

4+ bdrms

1

10

5.0

8

6

3 bdrms

18

6

2.4

2.0

2.0

4

5

2 bdrms

13

2

0

<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 6 6.0

3 6 2.0

5 12 2.4

1 2 2.0

1 5 5.0

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 November 12, 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. 11 ●

bellevue east of 405 CONDO - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 4.8 BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 5% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 126% VS 2023

▼ 14% VS 2023

▼ 31% VS 2023

- VS 2023

There were 43 condo listings in Bellevue East of 405 in October, no change to September and 126% higher than October 2023. October condo sales decreased by 40% month-over-month, to 9, and were 31% below October 2023. The months of inventory for condos in Bellevue East of 405, at 4.8, reflected a balanced market. The condo median price in October was $540,000, a 4% decrease from September and no change to October 2023. The average sold price was $517,244, 17% below last month; the average PSF sale price was $568, up 1.5% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$568 $517,244 $540,000 4.8 9 43

13 19

5% -14% 0% 227% -31% 126%

15 43

1.5% -17% -4% 67% -40% 0%

$541 $602,304 $540,000 1.5

$560 $626,450 $560,000 2.9

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

46

43

45

45

43

33

24

28 18

26

19

18

17

19

15

19

19

17

17

13

15

15

9

8

13

9

3

8

7

$580K

$560K

$560K

$550K

$550K

$540K

$535K

$540K

$530K

$491K

$488K

$475K

$446K

Oct-23

Sep-24

Oct-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.

11.0

15

4+ bdrms

1

10

3 bdrms

3

6

5

2 bdrms

1.8

27

1.0

1.0

0

2

<2 bdrms

<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES 1 11 11.0 3 3 1.0 1 1 1.0 0 1 n/a 0 2 n/a 0 1 n/a 0 1 n/a 4 7 1.8 0 16 n/a

13

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 November 12, 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. 12 ●

bellevue west of 405 SINGLE-FAMILY HOME - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 3.2 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 7% VS 2023

▲ 10% VS 2023

▼ 10% VS 2023

▼ 32% VS 2023

There were 67 single-family home listings in Bellevue West of 405 in October, 17% below September and 10% higher than October 2023. October single-family home sales decreased by 13% month-over-month, to 21, and were 32% below October 2023. The months of inventory for single-family home in Bellevue West of 405, at 3.2, reflected a sellers' market. The single-family home median price in October was $3,450,000, a 4% decrease from September and 7% above October 2023. The average sold price was $3,670,056, 9% below last month and down 10% to October 2023.

PREVIOUS YEAR

No.

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE

21 67

31 61

-10% 7% 62% -32% 10%

24 81

-13% -17%

$3,670,056 $3,450,000 3.2

$4,025,729 $3,610,000 3.4

-9% -4% -5%

$4,064,708 $3,210,000 2.0

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

81

55

71

75

61

58

67

54

58

42

41

49

44

31

31

40

37

27

26

31

26

21

25

24

23

18

16

12

11

$4.05M

$3.95M $3.85M $3.90M

$3.77M

$3.78M $3.99M

$3.61M $3.45M

$3.55M

$3.26M

$3.21M

$2.83M

Oct-23

Sep-24

Oct-24

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET < 4

BALANCED 4 - 6

BUYERS' MARKET 6+

● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY

40

24+

30

20

10

3.3

3.3

1.0

0.7

0.5

0.5

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

1 0 n/a

2 1 0.5

2 1 0.5

3 2 0.7

6 6 1.0

3 10 3.3

3 10 3.3

1 37 37.0

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 November 12, 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. 13 ●

bellevue west of 405 CONDO - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 4.1 BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 34% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 34% VS 2023

▲ 57% VS 2023

▲ 11% VS 2023

▲ 50% VS 2023

There were 61 condo listings in Bellevue West of 405 in October, 1.6% below September and 11% higher than October 2023. October condo sales decreased by 25% month-over-month, to 15, and were 50% above October 2023. The months of inventory for condos in Bellevue West of 405, at 4.1, reflected a balanced market. The condo median price in October was $1,500,000, a 50% increase from September and 57% above October 2023. The average sold price was $1,510,040, 13% below last month; the average PSF sale price was $1,197, down 8% 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

15 61

10 55

34% 34% 57% -26% 50% 11%

20 62

-8% -13% 50% 31% -25% -1.6%

$1,197 $1,510,040 $1,500,000 4.1

$890 $1,129,700 $957,500 5.5

$1,298 $1,734,130 $1,002,675 3.1

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

47

61

55

62

53

55

58

50

46

38

47

45

44

44

36

42

32

29

25

23

20

25

24

23

19

15

17

16

10

$2.11M

$1.50M

$1.35M $1.31M

$1.04M $1.04M $1.07M $1.10M $1.10M $1.12M

$1.00M

$958K

$875K

Oct-23

Sep-24

Oct-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.

12

5.5

10

4+ bdrms

8

3.3

1

3.0

2.8

3 bdrms

2.5

6

8

1.5

4

11

2 bdrms

27

2

0

3

<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 3 10 3.3 2 11 5.5 0 10 n/a 2 3 1.5 0 5 n/a 4 11 2.8 2 5 2.5 2 6 3.0

26

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 November 12, 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. 14 ●

belltown/downtown seattle CONDO - OCTOBER 2 0 2 4

MONTHS OF INVENTORY 6.5 BUYERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 8% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▼ 20% VS 2023

▼ 28% VS 2023

▼ 2% VS 2023

0.0% VS 2023

There were 188 condo listings in Belltown/Downtown Seattle in October, 14% below September and 2% lower than October 2023. October condo sales increased by 71% month-over-month, to 29, and were the same in October 2023. The months of inventory for condos in Belltown/Downtown Seattle, at 6.5, reflected a buyers' market. The condo median price in October was $463,000, a 24% decrease from September and 28% below October 2023. The average sold price was $631,912, 22% below last month; the average PSF sale price was $725, down 12% 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

$725 $631,912 $463,000 6.5 29 188

$790 $787,548 $642,500 6.6 29 192

-8% -20% -28% -2% 0% -2%

$823 $813,250 $610,000 12.8 17 218

-12% -22% -24% -49% 71% -14%

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

224

236

78

219

218

192

204

188

183

149

61

159

155

133

123

51

49

42

35

27

22

18

17

29

29

37

35

31

30

$905K

$787K

$719K

$703K

$650K

$650K

$643K

$640K

$635K

$610K

$599K

$588K

$463K

Oct-23

Sep-24

Oct-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.

80

17.0

4+ bdrms

1

60

12.0

1

3 bdrms

13

40

7.0

7.0

4.2

5

2 bdrms

20

71

0

23

<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 12 12.0 0 12 n/a 0 5 n/a 1 17 17.0 19 80 4.2 5 35 7.0 3 21 7.0 0 6 n/a

103

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 November 12, 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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