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Figures released by the Northwest Multiple Listing Service show 8,577 sellers accepted offers on their homes and condominiums in June. (AP Photo)

Puget Sound home sales, prices on the uptick

July 5, 2012 @ 1:51 pm (Updated: 9:20 am - 7/6/12 )

Figures released by the Northwest Multiple Listing Service show 8,577 sellers accepted offers on their homes and condominiums in June. That volume of pending sales across 21 counties was 13.8 percent higher than the same month a year ago, according to the MLS report.

Closed sales also reflected signs of a recovering market, with upticks in both volume and prices. Through the first six months of 2012 closings are up 14.4 percent (29,777 versus mid-year 2011 figure of 26,034 closed sales).

MLS members reported 6,214 closed sales of single family homes and condominiums during June, an improvement of 11.7 percent from twelve months ago, and the highest total since September 2007.

Prices on last month's completed sales increased more than 5.8 percent from a year ago, with the median price area-wide rising from $240,950 to $265,000. Single-family home prices (excluding condos) jumped 7.3 percent, while the median selling price on condominiums fell 1.7 percent from a year ago.

King County had 2,670 closings at an average price of $428,476 (median price $348,000); Snohomish County saw 1,025 closing with an average price of $269,474 ($249,000 median); Pierce County, 843 closings, $217,652 average price ($198,000 median); Kitsap County, 299 closings, $304,086 average ($250,000 median).

Northwest MLS directors credited several factors for contributing to brisk activity, including low mortgage rates and dwindling inventory.

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  • Realitycheck wrote...
    Wow, this is pathetic
    July 9, 2012 2:14 pm
    This is like calling our current gas prices good just because we are not over $4 anymore. How about reporting on the millions of people underwater, robbed of their equity, robbed of any hope to move in the next ten years and that is if they are lucky enough to hold on to their home. The fraud of the financial sector on this country and causing millions to lose almost or everything should be kept on the front page 24/7 instead of helping banks by showing this garbage. Shame on you MYNW. You obviously don't care either as long as you guys are doing alright.
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