King & Snohomish County Real Estate Prices Rise

Prices Continue To Rise

Home sales appear to be bottoming out with lower home prices attracting buyers in many areas of the country, according to the National Association of Realtors®. Are sales bottoming out due to lower prices in King and Snohomish counties? Not according to the September home sales figures.

Active listings in King County increased by 2,394 homes or 32 percent compared to the same time period in 2005. Sales decreased in September by 16 percent or 602 homes. The average market time, however, decreased by 3 percent during the same time period.

The average sales price is 7 percent higher than September 2005 and year-to-date prices are 14 percent higher or $458,544.

Snohomish County statistics look very similar. The number of active listings increased by 28 percent from September a year ago. And sales decreased by 159 homes or 10 percent with market times increasing 21 percent or 8 days.

The average sales prices in September increased by 10 percent compared to a year ago, while the year-to-date prices are up 10 percent or $350,241.

Buyers have more homes to choose from these days but prices are continuing to rise making it difficult for many first time buyers to enter the market. If you are thinking of buying a home and need to know how much home you qualify for, please contact me. I will put you in touch with a reputable lender. Also, visit WashingtonMLSsearch.net to set up your automated email home search.

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

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