Puget Sound home sales, prices on the uptick

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.