King County home prices, sales in September ahead of last year’s pace
King County median house price up 7 percent; sales up 13 percent
Seattle Times business reporter
The Seattle area real-estate market’s strong summer stretched into September, statistics posted Thursday by the Northwest Multiple Listing Service indicate.
Buyers closed on nearly 1,800 houses in King County last month, 13 percent more than in September 2011.
The median sale price, $375,000, was 7 percent higher than the same month last year. The median has been in the $375,000-$380,000 range since June.
Both closed and pending sales volumes were down in September from August, but that is the typical seasonal pattern.
Southeast and Southwest Seattle both saw double-digit year-over-year price increases. The median sale price jumped nearly 20 percent in Southeast King County, from $225,000 to $269,950.
Prices on the Eastside and in North King County, in contrast, were flat. Prices rose nearly 8 percent in Seattle.
The Eastside saw the biggest bump in closed sales, up 21 percent from September 2011. Sales volume actually declined 1 percent in Southwest King County.
The condo market fared better than the single-family market last month, at least in comparison with the same month in 2011. In King County, condo sales volume was up 25 percent, while the median price jumped 10 percent, from $195,000 to $214,500.
Southwest and Southeast King County again experienced the biggest year-over-year price increases — 23 and 16 percent, respectively — while the median rose just 4 percent in Seattle and the Eastside.
In Snohomish County, single-family home sales were up 7 percent year-over-year, while the median price jumped nearly 16 percent, to $280,000.
In both counties, a drop in the number of sales of bank-owned homes has contributed to increases in the median sale price in recent months.
Eric Pryne: firstname.lastname@example.org or 206-464-2231