west seattle SINGLE-FAMILY HOME - MAY 2 0 2 4
▶ MARKET SUMMARY
MONTHS OF INVENTORY 1.1
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▼ 1.1%
▼ 1.4%
▲ 78%
▲ 7%
There were 98 single-family home listings in West Seattle in May, 40% above April and 78% higher than May 2023.
SELLERS' MARKET
VS 2023
VS 2023
VS 2023
VS 2023
May single-family home sales increased by 2% month-over-month, to 93, and were 7% above May 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for single-family home in West Seattle, at 1.1, reflected a sellers' market. The single-family home median price in May was $885,000, a 3% decrease from April and 1.4% below May 2023.
93 98
87 55
-1.1% -1.4% 67% 7% 78%
91 70
-9% -3% 37% 2% 40%
TOTAL INVENTORY
TOTAL SALES
$1,126,908 $915,000 0.8
$1,021,915 $885,000 1.1
$1,032,990 $898,000 0.6
MONTHS OF INVENTORY
The average sold price was $1,021,915, 9% below last month and down 1.1% to May 2023.
MEDIAN SOLD PRICE
AVERAGE SOLD PRICE
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
31
97
94
96
98
91
88
29
82
82
87
93
80
28
78
76
85
83
70
71
70
67
57
56
55
55
53
43
35
$925K
$915K
$898K
$882K
$880K
$879K
$885K
$865K
$855K
$830K
$800K
$790K
$735K
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
60
1.8
1.5
50
1.0
1.0
1.0
40
0.5
30
20
10
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+
57 58 1.0
15 7 0.5
8 14 1.8
9 9 1.0
2 3 1.5
2 2 1.0
0 4 n/a
0 1 n/a
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. 50 ●
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