queen anne/magnolia CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 4.7 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 94% VS 2023
▼ 10% VS 2023
▼ 15% VS 2023
There were 103 condo listings in Queen Anne/Magnolia in August, 10% below July and 94% higher than August 2023.
August condo sales increased by 22% month-over-month, to 22, and were 15% below August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Queen Anne/Magnolia, at 4.7, re'ected a balanced market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$607 $625,534 $551,500 4.7 22 103
26 53
-5% -10% 8% 130% -15% 94%
$662 $757,589 $455,250 6.3 18 114
-8% -17% 21% -26% 22% -10%
The condo median price in August was $551,500, a 21% increase from July and 8% above August 2023. The average sold price was $625,534, 17% below last month; the average PSF sale price was $607, down 8% to last month.
$638 $695,856 $512,000 2.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
114
58
103
91
97
49
64
63
73
41
62
53
55
30
20 44
28
41
27
23
37
26
22
26
10
9
19
18
18
$655K
$552K
$543K
$530K
$520K
$512K
$493K
$487K
$452K
$455K
$440K
$436K
$430K
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.
80
5.8
70
4+ bdrms
5.0
60
50
2
3.0
3 bdrms
40
11
1.8
30
1.0
11
20
2 bdrms
41
10
0
9
<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 0 2 n/a 1 3 3.0 0 1 n/a 1 1 1.0 0 4 n/a 13 76 5.8 6 11 1.8 1 5 5.0
51
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. 41 ●
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