More than 2,000 home were sold in King County last month, part of a trend around western Washington in which housing sales reached the highest level for any month since August 2007, according to real estate industry analysts.
Market conditions in June favored buyers, Northwest Multiple Listing Service (NMLS) reported. Prices in most counties were down compared to a year ago but up slightly compared to May, and inventory showed signs of returning to a more balanced market, according to the organization that tracks housing sales.
In King County, 2,148 sales closed on conventional homes and condominiums combined. The average price was $502,727, and the median price (half higher, half lower) was $400,000.
There were 15,831 homes on the market in King County, including 4,974 new listings. The total number of listings was about 3,500 higher than June 2007.
A large supply of homes for sale tends to favor buyers. June activity showed supplies of nearly six months in King County and close to seven months in the four-county Puget Sound region (King, Snohomish, Pierce and Kitsap counties).
In the 19 counties monitored by NMLS, active listings in June totaled 50,143, 10 percent more than a year ago – on a percentage basis, the smallest year-to-year change since December 2005, when inventory rose 2.3 percent from December 2004.