lake forest park SINGLE-FAMILY HOME - AUGUST 2 0 2 4
MONTHS OF INVENTORY 1.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 17% VS 2023
▲ 15% VS 2023
▲ 59% VS 2023
▲ 13% VS 2023
There were 43 single-family home listings in Lake Forest Park in August, 16% below July and 59% higher than August 2023. August single-family home sales decreased by 40% month-over-month, to 26, and were 13% above August 2023. The months of inventory for single-family home in Lake Forest Park, at 1.7, re*ected a sellers' market. The single-family home median price in August was $995,000, a 13% increase from July and 15% above August 2023. The average sold price was $1,038,084, 3% below last month and up 17% to August 2023.
PREVIOUS YEAR
No.
No.
% Change 17% 15% 41% 13% 59%
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
26 43
23 27
43 51
-3% 13% 39% -40% -16%
$1,038,084 $995,000 1.7
$1,069,681 $878,000 1.2
$884,911 $863,000 1.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
51 43
36
34
38
31
43
32
38
31
27
27 23
23
29
22
26
26
23
22
22
15
15
15
19
15
11
9
9
$1.14M $1.08M
$990K $1.00M
$995K
$969K
$960K
$910K
$875K
$878K
$863K
$850K
$830K
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
7.0
25
20
15
10
1.9
0.7
0.6
5
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
14 27 1.9
8 5 0.6
1 7 7.0
3 2 0.7
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. 34 ●
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