belltown/downtown seattle CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 6.1 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 66% VS 2023
▲ 37% VS 2023
▲ 27% VS 2023
▼ 21% VS 2023
There were 183 condo listings in Belltown/Downtown Seattle in April, 15% above March and 27% higher than April 2023. April condo sales decreased by 41% month-over-month, to 30, and were 21% below April 2023. The months of inventory for condos in Belltown/Downtown Seattle, at 6.1, re*ected a buyers' market. The condo median price in April was $787,450, a 31% increase from March and 37% above April 2023. The average sold price was $995,745, 26% above last month; the average PSF sale price was $872, up 8% to last month.
PREVIOUS YEAR
No.
% Change
No.
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$872 $995,745 $787,450 6.1 30 183
$772 $599,071 $573,500 3.79 38 144
13% 66% 37% 61% -21% 27%
$809 $791,003 $599,000 3.1 51 159
8% 26% 31% 96% -41% 15%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
175
55
183
171
165
180
145
141
162
159
144
153
47
41
116
108
53
51
39
29
38
27
30
39
38
35
33
22
18
$905K
$787K
$719K
$703K
$664K
$643K
$625K
$599K
$588K
$583K
$574K
$573K
$550K
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.
80
9.1
70
4+ bdrms
1
60
6.5
6.5
50
2
5.1
3 bdrms
4.5
40
13
3.3
30
13
1.7
20
2 bdrms
66
10
0
15
<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 8 73 9.1 8 41 5.1 4 26 6.5 3 10 3.3 3 5 1.7 2 9 4.5 0 6 n/a 2 13 6.5
103
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 5 ●
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