king county CONDO - JUNE 2 0 2 4
MONTHS OF INVENTORY 3.1 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 15% VS 2023
▲ 6% VS 2023
▲ 64% VS 2023
▼ 15% VS 2023
There were 953 condo listings in King County in June, 9% above May and 64% higher than June 2023.
June condo sales decreased by 9% month-over-month, to 303, and were 15% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 357 580
% Change
No. 332 873
% Change
The months of inventory for condos in King County, at 3.1, re(ected a sellers' market.
TOTAL INVENTORY TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
303 953
2% 15% 6% 94% -15% 64%
3% 11% -4% 20% -9% 9%
The condo median price in June was $489,000, a 4% decrease from May and 6% above June 2023. The average sold price was $679,440, 11% above last month; the average PSF sale price was $625, up 3% to last month.
$625 $679,440 $489,000 3.1
$611 $590,689 $460,000 1.6
$605 $613,511 $510,000 2.6
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
47
953
873
707
677
40
40
600
585
691
580
607
590
507
332
319
438
357
415
294
255
248
303
308
287
263
207
191
190
$512K
$510K
$492K
$496K
$491K
$489K
$474K
$470K
$460K
$460K
$460K
$453K
$450K
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.
600
5.5
4+ bdrms
4.6
500
4.5
4
4.3
4.1
3.8
400
21
2.7
3 bdrms
2.5
75
300
200
167
2 bdrms
441
100
0
115
<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 213 585 2.7 38 164 4.3 18 74 4.1 10 25 2.5 6 27 4.5 8 37 4.6 2 11 5.5 8 30 3.8
433
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. 6 ●
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