highlights • Therewere2,270M LS closed salesin KingCountylastm onth,m arkingthelowestcountforJune in atleastthepasttwelveyears.June’ssalesweredown 14% from M ay’scountof2,643,a deviation from thetypicalincreaseof10% realized betw een M ay and June. • Com pared to June2023,lastm onth’ssaleswerelowerby8% ,thelargestyear-over-year contraction sinceD ecem ber2023.Acros hom etypes,single-fam ilyhom esalesweredown 4%, condos17%,and townhom es20%. • Salescountsin KingCountycontinued to rem ain below theirpast10-yearaveragein June,a featureofthem arketthathaspersisted overthepasttw o years.In M ay,salesreached theclosest they’vebeen to theirlong-run averagesinceJune2022,whilelastm onth diverged from this trajectory,now sit ing 35% below theirtypicallevel(thelargestgap sinceD ecem ber2023).
KINGCOUNTY THERENNIEADVANCE sales
JUNE 2024
3,500
- 4% vsJun 2023
3,000
2,500
2,000
2,532 10 yrJun Avg
1,500
1,629
1,000
SINGLE-FAMILY HOME sales
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500
- 36% vs10yrJun Avg
﹍ 10yrJuneAverage
● June
- 20% vsJun 2023
800
600
470 10 yrJun Avg
400
324
TOWNHOME sales
200
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
- 31% vs10yrJun Avg
﹍ 10yrJuneAverage
● June
800
- 17% vsJun 2023
600
400
483 10 yrJun Avg
298
200
CONDO sales
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0
- 38% vs10yrJun Avg
﹍ 10yrJuneAverage
● June
Inform ation and statisticsderived from NorthwestM ultipleListingService. Copyright© July2,2024renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofJuly2,2024.W hiletheinform ationanddatacontainedhereinhasbe n obtained from sourcesde m ed reliable,ac uracycannotbeguarante d.renniegroup ofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacingany relianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim e withoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E. 3 ●
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