Seattle-area home prices continue rising, inventory shrinks

Jones-Jeanne-Lang-PSBJ-1000px.jpgJeanne Lang JonesStaff Writer-Puget Sound Business JournalEmail | Twitter
Home prices rose in March across the Seattle area, as the inventory of homes and condos for sale continued to be slim, according to a new report from the Northwest Multiple Listing Service.
The median price of a home in King and Snohomish counties was up more than 18 percent compared to March a year ago, while Pierce County increased a little more than 14 percent.
In King County, the median home fetched $349,950. That’s 18.6 percent higher than the March 2012 median price of $295,000.
In Snohomish County, the median home sold for $269,950, up 18.1 percent from a year earlier. In Pierce County, the median home price of $200,000 was up 14.3 percent.
Inventory remained tight, especially in King and Snohomish counties. Snohomish was the tightest of the three counties with the number of homes on the market down about 44 percent from March 2012. King County was close behind with a 42.3 percent drop in listings year-over-year. Pierce County meanwhile had a 27 percent reduction.
Closed sales in March were up 14 percent in King County, 12.56 percent in Snohomish County and 16.56 percent in Pierce County in March compared to the prior year.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s