king county TOWNHOME - MARCH 2 0 2 4
MONTHS OF INVENTORY 1.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 20% VS 2023
▲ 15% VS 2023
▲ 10% VS 2023
▼ 5% VS 2023
There were 479 townhome listings in King County in March, 6% above February and 5% lower than March 2023. March townhome sales increased by 26% month-over-month, to 421, and were 10% above March 2023. The months of inventory for townhomes in King County, at 1.1, reflected a sellers' market. The townhome median price in March was $785,000, a 3% increase from February and 15% above March 2023. The average sold price was $867,560, 9% above last month; the average PSF sale price was $555, up 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
% Change
No. 384 503
No. 335 454
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
421 479
8% 20% 15% -13% 10% -5%
4% 9% 3% -16% 26% 6%
$555 $867,560 $785,000 1.1
$512 $724,821 $683,900 1.31
$532 $796,320 $761,149 1.4
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
660
47
603
592
575
529
515
42
583
40
503
454
525
479 421
406
384
426
338
335
328
404
398
375
357
345
269
235
222
$785K
$761K
$740K
$739K
$729K
$725K
$725K
$730K
$720K
$720K
$721K
$700K
$684K
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.
200
1.5
55
4+ bdrms
1.1
1.1
44
150
1.1
1.0
0.9
0.8
0.6
182
3 bdrms
100
193
174
50
2 bdrms
221
0
10
<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 101 98 1.0 125 183 1.5 95 100 1.1 41 47 1.1 24 20 0.8 22 19 0.9 8 9 1.1 5 3 0.6
21
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. 5 ●
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