burien/normandy park CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 5.0 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 19% VS 2023
▼ 9% VS 2023
▼ 2% VS 2023
▼ 17% VS 2023
There were 25 condo listings in Burien/Normandy Park in September, 7% below August and 19% higher than September 2023. September condo sales decreased by 58% month-over-month, to 5, and were 17% below September 2023. The months of inventory for condos in Burien/Normandy Park, at 5.0, re*ected a balanced market. The condo median price in September was $317,130, a 8% increase from August and 2% below September 2023. The average sold price was $298,416, 5% above last month; the average PSF sale price was $318, down 9% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$318 $298,416 $317,130 5.0 5 25
$297 $328,333 $325,000 3.5 6 21
7% -9% -2% 43% -17% 19%
12 27
-9% 5% 8% 122% -58% -7%
$348 $283,721 $292,500 2.3
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
112
27
25
23
23
26
22
21
19
13
12
12
12
14
10
71
13
12
8
8
8
7
8
6
7
5
4
4
46
$340K
$325K
$325K
$317K
$315K
$303K
$301K
$293K
$278K
$272K
$272K
$274K
$275K
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.
12
12.0
4+ bdrms
10
8
3 bdrms
6
4
4
2.5
2 bdrms
16
2
0
1
<2 bdrms
<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES 1 12 12.0 4 10 2.5 0 2 n/a 0 1 n/a
9
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. 18 ●
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