Tuesday, April 10, 2012

King County Home Prices on the Rise

The median price of buying a home in the King County area last month was the highest we’ve seen since September. According to stats from the MLS, last month’s median sale price was $330,000, which is 7% higher than it was the previous month, (which happened to hit an all time low).
This indicates that in some areas of King County, the housing market is starting to recover. According to the Seattle Times, prices in Seattle were up 3% from this time last year and even 9% up from February. The overall optimistic outlook on the housing market is neighborhood specific of course; neighborhoods in North Seattle, and those Northeast of I-90 have seen a double digit statistic increase year after year, whereas the median price in South King County has fallen nearly 17% since last Spring. Median prices from February to March have had the tendency to increase in the past, but that isn’t always the case. While condo sales have seen an increase nationwide, short sales have decreased over 30% from this time last year. For more information about the King County housing market, visit the Seattle Times.


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