highlights • KingCounty’sinventoryin M ayreached 3,583,a38% increaseversusApril(considerablyhigher than thetypicalA pril-to-M ay increaseof12% and thelargestm onth-over-m onth increasesince M ay-to-Juneof2022). • Inventorywasup 30% year-over-yearin King County— thefirstsuch increasesinceApril2023. W hen consideringhom etypes,single-fam ilyhom einventoryrose18%,townhom es38%,and condos60%.At872 activelistings,condoinventoryhitahigh notseen sinceN ovem ber2020. • Totalinventoryin M aywas8% below thepast-decadeaverage,theclosestithasbeen to this historicalm onthlybenchm ark sinceD ecem ber2022.Single-fam ilyhom einventorywas29% lower,whiletownhom eand condoswere50% and 38% higher,respectively,than their10-year M ay average.
KINGCOUNTY THERENNIEADVANCE inventory
•
MAY 2024
+ 18% vsM ay2023
5,000
4,000
3,000
2,790 10 yrM ayAvg
2,000
1,988
SINGLE-FAMILY HOME inventory
1,000
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
- 29% vs10yrM ayAvg
﹍ 10 yrM ayAverage
● May
+ 38% vsM ay2023
1,000
800
723
600
482 10 yrM ayAvg
400
TOWNHOME inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 50% vs10yrM ayAvg
﹍ 10 yrM ayAverage
● May
+ 60% vsM ay2023
1,200
1,000
800
872
634 10 yrM ayAvg
600
400
CONDO inventory
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
+ 38% vs10yrM ayAvg
﹍ 10 yrM ayAverage
● May
Inform ation and statisticsderived from NorthwestM ultipleListingService. Copyright© June3,2024renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJune3,2024.W hiletheinform ationanddatacontainedhereinhas be nobtained from sourcesde m ed reliable,ac uracycannotbeguarante d.ren iegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacing anyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatany tim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E. 5 ●
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