King County home prices up 7 percent from last year

By Qiong (June) Zhang43 Comments

http://seattletimes.nwsource.com/html/businesstechnology/2018860306_homesales07.html

King County home prices rose 7.2 percent in July compared with one year ago, extending their streak of such gains to four straight months, according to statistics released Monday by the Northwest Multiple Listing Service.

The median price of single-family homes sold in July was $375,250, a 1 percent drop from June. And the year-over-year increase of $25,250, or 7.2 percent, was smaller than June’s 10.1 percent jump.

The number of closed home sales last month in King County was 26 percent higher than last year and the highest since August 2007.

Median prices are up 19 percent this year, but nearly 22 percent below where they were at in July 2007, the all-time high for King County.

Prices for condos are slightly up compared with last year.

In Snohomish County, median home prices grew 13 percent year-over-year, and closed sales grew 24 percent.

It was more of the same in Pierce County, closed sales up just 2.5 percent and the median home price down 2 percent.

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