the seattle rennie review | May 2024

west seattle SINGLE-FAMILY HOME - APRIL 2 0 2 4

MONTHS OF INVENTORY 0.8 SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 18% VS 2023

▲ 12% VS 2023

▲ 6% VS 2023

▼ 1.4% VS 2023

There were 69 single-family home listings in West Seattle in April, 5% above March and 1.4% lower than April 2023.

April single-family home sales increased by 20% month-over-month, to 91, and were 6% above April 2023.

THIS MONTH No.

PREVIOUS MONTH No.

PREVIOUS YEAR

% Change

No.

% Change

The months of inventory for single-family home in West Seattle, at 0.8, re(ected a sellers' market. The single-family home median price in April was $915,000, a 7% increase from March and 12% above April 2023. The average sold price was $1,126,908, 17% above last month and up 18% to April 2023.

TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE

91 69

86 70

18% 12% -7% 6% -1.4%

76 66

17% 7% -13% 20% 5%

$1,126,908 $915,000 0.8

$967,037 $855,000 0.9

$954,768 $819,995 0.81

▶ MEDIAN DAYS ON MARKET

▶ RECENT TRENDS

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

80 97

94

82 96

33

91

32

88

31

82

86

78

76

87

85

83

70

70

69

71

66

57

56

55

55

53

43

35

$925K

$915K

$898K

$882K

$880K

$879K

$865K

$855K

$820K

$830K

$800K

$790K

$735K

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

50

1.0

1.0

1.0

0.9

40

0.5

0.5

0.5

30

20

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

50 44 0.9

13 6 0.5

12 6 0.5

8 4 0.5

4 4 1.0

1 1 1.0

3 3 1.0

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. 5 0 ●

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