Chief
10-05-2007, 02:19 PM
http://seattletimes.nwsource.com/html/realestate/2003927842_webhomesales06.html
By Elizabeth Rhodes
Seattle Times business reporter
Reflecting turmoil in the mortgage markets and buyer uncertainty, the median sold price of King County detached houses has fallen two months in a row. It's now back to where it was in early spring — perhaps the first sign that prices are softening as the number of homes for sale continues to build.
The county's median single-family home price was $450,000, according to the September sales report released this morning by the Northwest Multiple Listing Service.
That's just below last March's median of $457,500 and almost $32,000 less than this year's high of $481,750 in July.
(Median is the midpoint; half the properties sell for more, half for less.)
However compared to the previous September, house prices are up 5.9 percent.
Perhaps more striking, however, is the continued abundance of homes for sale. Every month since May has seen the year-over-year supply grow by 40 percent or more compared to the same month in 2006.
Last month the supply of houses was up 40.2 percent year-over-year — lower than July's high of 45.8 percent, but still nearly double inventory increases seen at the beginning of the year.
**SCHNIPP**
Which is it?? How can home values be going up 19% in Thurston County, and dropping dramatically 2 months in a row over in King County??
"Curiouser, and curiouser", said Alice.
???
By Elizabeth Rhodes
Seattle Times business reporter
Reflecting turmoil in the mortgage markets and buyer uncertainty, the median sold price of King County detached houses has fallen two months in a row. It's now back to where it was in early spring — perhaps the first sign that prices are softening as the number of homes for sale continues to build.
The county's median single-family home price was $450,000, according to the September sales report released this morning by the Northwest Multiple Listing Service.
That's just below last March's median of $457,500 and almost $32,000 less than this year's high of $481,750 in July.
(Median is the midpoint; half the properties sell for more, half for less.)
However compared to the previous September, house prices are up 5.9 percent.
Perhaps more striking, however, is the continued abundance of homes for sale. Every month since May has seen the year-over-year supply grow by 40 percent or more compared to the same month in 2006.
Last month the supply of houses was up 40.2 percent year-over-year — lower than July's high of 45.8 percent, but still nearly double inventory increases seen at the beginning of the year.
**SCHNIPP**
Which is it?? How can home values be going up 19% in Thurston County, and dropping dramatically 2 months in a row over in King County??
"Curiouser, and curiouser", said Alice.
???