SEATTLE NEWS ARCHIVES & FEATURES
Home sales go up as prices drop in King County
Aug 5, 2011, 6:57 AM | Updated: Mar 4, 2016, 5:59 am
The latest local housing numbers show a lot of activity but sinking home prices in King County.
A new local real estate report finds home prices in King County dropped by double-digits in July compared to a year ago.
The median sales price for a house in King County was about $350,000, down 12.5 percent from July of 2010.
The typical condo sold for $200,000 in King County, down 20 percent compared to last July.
Analysts say prices seem low because there’s much less sales activity among higher priced homes.
The Northwest Multiple Listing Service reports sales activity continues to rise from a drop-off last summer after a homebuyer tax credit expired. If you include condos, home sales are up more than 16 percent from July of last year.
In a news release, Northwest MLS director Frank Wilson declares that the good news is the housing market has finally hit bottom, adding, quote: “the bad news is we are just sitting there.”
