university district CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 19.7 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 22% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 4% VS 2023
▲ 269% VS 2023
▼ 50% VS 2023
There were 59 condo listings in University District in June, 11% above May and 269% higher than June 2023.
June condo sales decreased by 40% month-over-month, to 3, and were 50% below June 2023.
PREVIOUS YEAR
No.
No.
% Change
No.
% Change
The months of inventory for condos in University District, at 19.7, reflected a buyers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$460 $491,000 $475,000 19.7 3 59
$593 $462,483 $458,450 2.7 6 16
-22% 6% 4% 638% -50% 269%
$524 $511,760 $535,000 10.6 5 53
-12% -4% -11% 86% -40% 11%
The condo median price in June was $475,000, a 11% decrease from May and 4% above June 2023. The average sold price was $491,000, 4% below last month; the average PSF sale price was $460, down 12% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE 59
120
53
37
33
40
28
19
17
15
21
16
9
60
15
15
8
5
4
4
3
6
1
3
2
2
$620K
30
$535K
$525K
$513K
$479K
$472K
$477K
$475K
$465K
$458K
$460K
Jun-23
May-24
Jun-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
14.3
40
4+ bdrms
30
2
3 bdrms
21
20
1
2 bdrms
10
31
0
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 0 6 n/a 3 43 14.3 0 10 n/a
<2 bdrms
7
Copyright © July 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 July 8, 2024. All data from Association of Interior Realtors & 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 at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 44 ●
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