king county SINGLE-FAMILY HOME - MAY 2 0 2 4
▶ MARKET SUMMARY There were 1,964 single-family home listings in King County in May, 48% above April and 18% higher than May 2023. May single-family home sales increased by 16% month-over-month, to 1,818, and were 16% above May 2023. The months of inventory for single-family home in King County, at 1.1, reflected a sellers' market. The single-family home median price in May was $1,100,000, a 5% increase from April and 12% above May 2023.
MONTHS OF INVENTORY 1.1
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 14%
▲ 12%
▲ 18%
▲ 16%
SELLERS' MARKET
VS 2023
VS 2023
VS 2023
VS 2023
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
1,818 1,964
1,569 1,661
14% 12% 2% 16% 18%
1,573 1,328
1.3% 5% 28% 16% 48%
TOTAL INVENTORY
TOTAL SALES
$1,344,702 $1,050,000 0.8
$1,362,319 $1,100,000 1.1
$1,197,983 $985,000 1.1
MONTHS OF INVENTORY
The average sold price was $1,362,319, 1.3% above last month and up 14% to May 2023.
MEDIAN SOLD PRICE
AVERAGE SOLD PRICE
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
34
34
2,113
1,964
1,951
33
1,852
1,824
1,531 1,960
1,818
1,573
1,661
1,700
1,407
1,569
1,307
1,270
1,484
1,104
1,328
1,304
907
1,174
876
1,096
973
880
690
$1.06M $1.05M $1.10M
$1.02M
$985K
$980K
$969K
$935K
$926K
$917K
$900K
$900K
$890K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 4
BALANCED 4 - 6
BUYERS' MARKET 6+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
6.7
800
4.8
600
400
1.9
1.7
1.6
1.0
1.0
200
1.0
0.9
0.9
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
820 817 1.0
228 218 1.0
209 198 0.9
273 254 0.9
132 137 1.0
66 105 1.6
51 95 1.9
22 37 1.7
6 29 4.8
11 74 6.7
MOI INVENTORY SALES
Information and statistics derived from Northwest Multiple Listing Service. Copyright © June 10, 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 June 10, 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. 4 ●
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