belltown/downtown seattle CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 5.8 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 10% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2.0% VS 2023
▲ 1.6% VS 2023
▲ 20% VS 2023
▼ 10% VS 2023
There were 204 condo listings in Belltown/Downtown Seattle in August, 9% below July and 20% higher than August 2023. August condo sales increased by 13% month-over-month, to 35, and were 10% below August 2023. The months of inventory for condos in Belltown/Downtown Seattle, at 5.8, re)ected a balanced market. The condo median price in August was $635,000, a 2% decrease from July and 1.6% above August 2023. The average sold price was $888,324, 3% below last month; the average PSF sale price was $764, down 11% 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
$764 $888,324 $635,000 5.8 35 204
$852 $871,267 $625,000 4.4 39 170
-10% 2% 1.6% 34% -10% 20%
$854 $917,289 $650,000 7.2 31 224
-11% -3% -2% -19% 13% -9%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
224
236
68
219
192
204
185
59
170
183
149
159
155
48
133
123
51
49
29
27
39
22
35
18
37
35
33
31
30
$905K
$787K
$719K
$703K
$650K
$650K
$643K
$640K
$635K
$625K
$599K
$588K
$550K
Aug-23
Jul-24
Aug-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.
14.0
1
80
4+ bdrms
2
11.0
60
1
3 bdrms
7.0
11
6.0
5.9
40
5.4
15
2 bdrms
20
79
1.4
0
18
<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 11 11.0 0 11 n/a 1 6 6.0 1 14 14.0 16 87 5.4 8 47 5.9 3 21 7.0 5 7 1.4
112
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 September 9, 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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