Median King County home up $25,250 in one year

The median priced King County home sold in July was up $25,250, or 7.2 percent, over the same month in 2011, according to the latest statistics compiled by the Northwest Multiple Listing Service.

The median price of $375,250 (excluding condominiums) means half the homes sold for more, half for less. The average price of a King County home closed in July was $410,726. In Snohomish County the median price was $251,111 (average $268,202); Pierce $190,000 and $218,296; Kitsap $242,500 and $295,919; Mason $150,000 and $185,001.

Prices are also rising in many areas. The median sales price for single family homes and condominiums (combined) that closed area-wide last month was $254,900, up more than 7 percent from the year ago figure of $237,975.

Three counties, Clallam, San Juan and Snohomish, reported double-digit gains. San Juan County led the price surge with a gain of 21.3 percent, followed by Snohomish County at 13.5 percent.

Pending sales jumped more than 17 percent from a year ago. Nineteen of the 21 counties in the NWMLS service area reported double-digit increases in the volume of mutually accepted offers led by Kitsap County at 31 percent.

“Kitsap continues to see multiple offer situations as our average market time drops,” said Frank Wilson, branch managing broker at John L. Scott’s Poulsbo office. “By only a small number, the volume of new listings (451) outgained the number of homes that went under contract (402). This naturally leads to shortages in some price ranges.”