king county CONDO - APRIL 2 0 2 4
MONTHS OF INVENTORY 2.2 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 19% VS 2023
▲ 8% VS 2023
▲ 37% VS 2023
▲ 15% VS 2023
There were 690 condo listings in King County in April, 17% above March and 37% higher than April 2023.
April condo sales increased by 5% month-over-month, to 308, and were 15% above April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
% Change
No. 268 502
No. 294 588
% Change
The months of inventory for condos in King County, at 2.2, re(ected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
308 690
6% 19% 8% 20% 15% 37%
-7% 0.2% -0.9% 12% 5% 17%
The condo median price in April was $491,250, a 0.9% decrease from March and 8% above April 2023. The average sold price was $625,881, 0.2% above last month; the average PSF sale price was $605, down 7% to last month.
$605 $625,881 $491,250 2.2
$570 $528,160 $453,450 1.87
$652 $624,613 $495,500 2.0
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
675
706
40
690
39
600
583
580
544
35
607
588
502
505
357
436
326
413
319
294
308
255
248
268
287
263
207
191
190
$512K
$492K
$496K
$491K
$474K
$469K
$470K
$460K
$460K
$460K
$453K
$453K
$450K
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.
9.0
400
4+ bdrms
2
300
32
5.0
3 bdrms
56
200
2.9
2.8
2.5
2.1
160
1.7
1.6
2 bdrms
100
318
0
116
<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 206 428 2.1 45 112 2.5 19 54 2.8 15 25 1.7 9 14 1.6 8 23 2.9 1 9 9.0 5 25 5.0
314
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. 6 ●
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