queen anne/magnolia CONDO - MARCH 2 0 2 4
MONTHS OF INVENTORY 2.9 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 14% VS 2023
▲ 15% VS 2023
▼ 6% VS 2023
▼ 27% VS 2023
There were 55 condo listings in Queen Anne/Magnolia in March, 38% above February and 15% higher than March 2023. March condo sales decreased by 5% month-over-month, to 19, and were 27% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
% Change
No.
No.
% Change
The months of inventory for condos in Queen Anne/Magnolia, at 2.9, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
19 55
26 48
7% 14% -6% 57% -27% 15%
20 40
1.2% 10% -5% 45% -5% 38%
The condo median price in March was $430,000, a 5% decrease from February and 6% below March 2023. The average sold price was $595,389, 10% above last month; the average PSF sale price was $621, up 1.2% to last month.
$621 $595,389 $430,000 2.9
$580 $524,283 $459,750 1.85
$614 $542,000 $451,750 2.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
55
55
59
59
56
64
55
62
52
53
52
48
42
34
40
39
30
26
33 18
23
26
20
24
19
22
19
10
9
$655K
$543K
$520K
$512K
$512K
$505K
$487K
$460K
$452K
$440K
$440K
$430K
$416K
Mar-23
Feb-24
Mar-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.
40
3.0
2.8
4+ bdrms
2.3
30
1
3 bdrms
20
4
0.5
6
10
2 bdrms
21
0
12
<$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 0 1 n/a 0 3 n/a 2 1 0.5 0 3 n/a 13 37 2.8 3 7 2.3 1 3 3.0
<2 bdrms
30
Copyright © April 10, 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 April 10, 2024. All data from Northwest Multiple Listing Service & rennie. 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 0 ●
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