burien/normandy park SINGLE-FAMILY HOME - APRIL 2 0 2 4
MONTHS OF INVENTORY 1.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 16% VS 2023
▼ 11% VS 2023
▼ 3% VS 2023
There were 66 single-family home listings in Burien/Normandy Park in April, 10% above March and 11% lower than April 2023. April single-family home sales increased by 5% month-over-month, to 69, and were 3% below April 2023. The months of inventory for single-family home in Burien/Normandy Park, at 1.0, re*ected a sellers' market. The single-family home median price in April was $710,000, a 3% decrease from March and 16% above April 2023. The average sold price was $757,818, 8% below last month and up 8% to April 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
69 66
71 74
8% 16% -8% -3% -11%
66 60
-8% -3% 5% 5% 10%
$757,818 $710,000 1.0
$824,596 $732,750 0.9
$702,540 $610,000 1.04
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
101
106
35
33
96
83
81
81
69 92
85
29
74
79
66
63
69
72
71
71
67
53
66
60
59
52
50
49
$733K
$715K
$710K
$700K
$695K
$671K
$650K
$635K
$628K
$625K
$620K
$610K
$597K
Apr-23
Mar-24
Apr-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
70
7.0
60
50
40
30
2.0
20
0.7
10
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
64 44 0.7
1 7 7.0
2 0 n/a
0 5 n/a
2 4 2.0
0 3 n/a
0 1 n/a
0 1 n/a
0 1 n/a
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 6 ●
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