burien/normandy park SINGLE-FAMILY HOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 2.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 12% VS 2023
▲ 14% VS 2023
▲ 25% VS 2023
▼ 11% VS 2023
There were 125 single-family home listings in Burien/Normandy Park in August, 11% above July and 25% higher than August 2023. August single-family home sales decreased by 23% month-over-month, to 64, and were 11% below August 2023. The months of inventory for single-family home in Burien/Normandy Park, at 2.0, re)ected a sellers' market. The single-family home median price in August was $717,500, a 6% increase from July and 14% above August 2023. The average sold price was $796,866, 4% below last month and up 12% to August 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
$796,866 $717,500 2.0 64 125
$710,825 $627,500 1.4 72 100
12% 14% 41% -11% 25%
$830,086 $675,000 1.4 83 113
-4% 6% 43% -23% 11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
48
125
111
103
113
96
100
99 69
83
82
37
87
71
71
36
66
72
78
56
67
67
66
64
60
59
52
50
48
$733K
$720K
$718K
$695K
$700K
$675K
$659K
$650K
$635K
$628K
$625K
$620K
$597K
Aug-23
Jul-24
Aug-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
80
4.0
3.5
60
1.6
40
1.3
20
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
50 81 1.6
9 12 1.3
2 7 3.5
3 12 4.0
0 7 n/a
0 3 n/a
0 1 n/a
0 1 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 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. 16 ●
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