burien/normandy park CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 2.3 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 69% VS 2023
▲ 71% VS 2023
▼ 12% VS 2023
▼ 12% VS 2023
There were 27 condo listings in Burien/Normandy Park in August, 4% above July and 69% higher than August 2023. August condo sales remained the same month-over-month, at 12, and were 71% above August 2023. The months of inventory for condos in Burien/Normandy Park, at 2.3, re)ected a sellers' market. The condo median price in August was $292,500, a 3% decrease from July and 12% below August 2023. The average sold price was $283,721, 9% below last month; the average PSF sale price was $348, up 1.4% 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
12 27
$323 $324,050 $331,000 2.3 7 16
71% 69%
12 26
4% 0% 4%
$348 $283,721 $292,500 2.3
8% -12% -12% -1.6%
$344 $310,542 $300,750 2.2
1.4% -9% -3%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
75
27
71
23
23
26
22
21
19
13
16
12
12
14
12
10
13
12
8
8
8
43
7
7
8
7
6
4
4
$340K
$331K
$325K
$325K
$315K
$303K
$301K
$293K
$278K
$272K
$272K
$274K
$275K
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
2.2
12
4+ bdrms
1.5
10
1
8
3 bdrms
6
6
4
2 bdrms
23
2
0
5
<2 bdrms
<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES
4
6 9 1.5
6 13 2.2
0 3 n/a
0 2 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. 18 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online