burien/normandy park CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 4.6 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 21% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 11% VS 2023
▲ 6% VS 2023
▲ 44% VS 2023
▼ 38% VS 2023
There were 23 condo listings in Burien/Normandy Park in June, 21% above May and 44% higher than June 2023.
June condo sales decreased by 44% month-over-month, to 5, and were 38% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Burien/Normandy Park, at 4.6, re)ected a balanced market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$284 $326,100 $337,500 4.6 5 23
$357 $294,950 $319,500 2.0 8 16
-21% 11% 6% 130% -38% 44%
$318 $279,735 $275,000 2.1 9 19
-11% 17% 23% 118% -44% 21%
The condo median price in June was $337,500, a 23% increase from May and 6% above June 2023. The average sold price was $326,100, 17% above last month; the average PSF sale price was $284, down 11% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
22
95
23
21
21
19
16
16
12
12
13
12
9
9
8
8
8
10
8
8
7
7
7
6
5
43
42
4
4
$340K
$338K
$331K
$325K
$325K
$320K
$315K
$302K
$278K
$272K
$272K
$274K
$275K
Jun-23
May-24
Jun-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.
10
9.0
4+ bdrms
8
6
3 bdrms
4
2.5
5
2 bdrms
16
2
0
<2 bdrms
<$300K $300K-399K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1M+ MOI INVENTORY SALES
7
1 9 9.0
4 10 2.5
0 4 n/a
Information and statistics derived from Northwest Multiple Listing Service. Copyright © July 8, 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 July 8, 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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