king county CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 3.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 59% VS 2023
▼ 1.4% VS 2023
▼ 1.9% VS 2023
▼ 3% VS 2023
There were 991 condo listings in King County in August, 1.0% below July and 59% higher than August 2023.
August condo sales decreased by 5% month-over-month, to 308, and were 3% below August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 319 623
% Change
No.
% Change
The months of inventory for condos in King County, at 3.2, re'ected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
308 991
-0.4% -1.4% -1.9% 65% -3% 59%
$651 $727,740 $490,000 3.1 325 1,001
-6% -8% -5% 4% -5% -1%
The condo median price in August was $465,000, a 5% decrease from July and 1.9% below August 2023. The average sold price was $665,933, 8% below last month; the average PSF sale price was $612, down 6% to last month.
$612 $665,933 $465,000 3.2
$614 $675,192 $474,000 2.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
955
55
991
1,001
874
731
720
654
692
623
559
41
41
591
494
479
347
325
294
319
255
248
308
326
311
263
207
191
190
$512K
$505K
$492K
$496K
$493K
$486K
$490K
$474K
$470K
$465K
$460K
$460K
$450K
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.
700
6.2
3 1
600
4+ bdrms
500
4.2
4.2
3.7
3.7
23
400
3 bdrms
3.0
3.0
84
300
1.8
166
200
2 bdrms
469
100
0
118
<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 219 657 3.0 43 159 3.7 14 59 4.2 7 26 3.7 5 21 4.2 5 31 6.2 6 11 1.8 9 27 3.0
435
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. 6 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online