belltown/downtown seattle CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 12.8 BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 25% VS 2023
▲ 11% VS 2023
▲ 18% VS 2023
▼ 48% VS 2023
There were 218 condo listings in Belltown/Downtown Seattle in September, 7% above August and 18% higher than September 2023. September condo sales decreased by 51% month-over-month, to 17, and were 48% below September 2023. The months of inventory for condos in Belltown/Downtown Seattle, at 12.8, re)ected a buyers' market. The condo median price in September was $610,000, a 4% decrease from August and 11% above September 2023. The average sold price was $813,250, 8% below last month; the average PSF sale price was $823, up 8% to last month.
PREVIOUS YEAR
No.
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$823 $813,250 $610,000 12.8 17 218
$738 $649,820 $550,000 5.6 33 185
129% -48% 18%
$764 $888,324 $635,000 5.8 35 204
8% -8% -4% 120% -51% 7%
11% 25% 11%
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
224
236
68
219
218
63
192
204
185
183
149
159
155
133
123
42
51
49
35
29
27
22
33
18
37
35
17
31
30
$905K
$787K
$719K
$703K
$650K
$650K
$643K
$640K
$635K
$610K
$599K
$588K
$550K
Sep-23
Aug-24
Sep-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.
100
23.0
4+ bdrms
80
2
60
3 bdrms
12.5
11.8
15
40
7
2 bdrms
4.3
3.5
20
83
0
10
<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 8 94 11.8 2 46 23.0 2 25 12.5 2 7 3.5 0 11 n/a 3 13 4.3 0 5 n/a 0 17 n/a
118
Information and statistics derived from Northwest Multiple Listing Service. Copyright © 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 October 9, 2024. 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. 15 ●
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