bellevue west of 405 CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.7 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 12% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 18% VS 2023
▲ 26% VS 2023
▲ 35% VS 2023
0.0% VS 2023
There were 46 condo listings in Bellevue West of 405 in April, 5% above March and 35% higher than April 2023.
April condo sales decreased by 26% month-over-month, to 17, and were the same in April 2023.
PREVIOUS YEAR
No.
% Change
No.
No.
% Change
The months of inventory for condos in Bellevue West of 405, at 2.7, re(ected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
17 46
17 34
12% 18% 26% 35% 0% 35%
23 44
-15% -0.4% 2% 41% -26% 5%
The condo median price in April was $1,124,000, a 2% increase from March and 26% above April 2023. The average sold price was $1,144,471, 0.4% below last month; the average PSF sale price was $918, down 15% to last month.
$918 $1,144,471 $1,124,000 2.7
$821 $968,324 $889,000 2.00
$1,080 $1,149,133 $1,099,000 1.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
57
55
53
46
45
43
46
45
44
44
44
42
39
29
42
34
25
23
22
17
24
23
16
17
28
13
10
10
9
$1.13M
$1.07M $1.10M $1.10M $1.12M
$1.04M $1.04M
$958K
$925K
$889K
$875K
$783K
$730K
Apr-23
Mar-24
Apr-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.
10
9.0
4+ bdrms
8
5
6
3 bdrms
4
4.0
3.5
3.3
4
2.5
2.0
8
2 bdrms
18
2
0.7
0
4
<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 3 10 3.3 2 7 3.5 1 9 9.0 6 4 0.7 2 5 2.5 2 8 4.0 1 2 2.0 0 1 n/a
24
Copyright © May 8, 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 May 8, 2024. All data from Northwest Multiple Listing Service & rennie. 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 or revised at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 1 4 ●
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