king county CONDO - SEPTEMBER 2 0 2 4
MONTHS OF INVENTORY 4.6 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 16% VS 2023
▲ 14% VS 2023
▲ 50% VS 2023
▼ 10% VS 2023
There were 1,096 condo listings in King County in September, 10% above August and 50% higher than September 2023. September condo sales decreased by 23% month-over-month, to 237, and were 10% below September 2023. The months of inventory for condos in King County, at 4.6, re(ected a balanced market. The condo median price in September was $514,390, a 11% increase from August and 14% above September 2023. The average sold price was $654,542, 1.7% below last month; the average PSF sale price was $611, down 0.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 263 731
% Change
No. 308 992
% Change
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$611 $654,542 $514,390 4.6 237 1,096
6% 16% 14% 66% -10% 50%
-0.2% -1.7% 11% 44% -23% 10%
$576 $566,254 $450,000 2.8
$612 $665,933 $465,000 3.2
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
55
1,096
54
1,001
955
874
992
46
720
731
654
559
692
591
494
347
479
325
308
294
255
248
263
326
311
237
207
191
190
$512K
$514K
$505K
$496K
$493K
$492K
$486K
$490K
$470K
$465K
$460K
$460K
$450K
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.
800
14.0
700
4+ bdrms
3
600
500
19
3 bdrms
400
6.8
95
6.4
300
4.8
4.3
4.2
138
3.2
3.2
200
2 bdrms
516
100
0
80
<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 153 736 4.8 37 157 4.2 21 68 3.2 9 29 3.2 6 26 4.3 5 34 6.8 1 14 14.0 5 32 6.4
482
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. 6 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online