REPORT: HOME PRICES STABLE
The median price of a single-family home in King County has fluctuated by only $4,050 over the past six months, according to the Northwest Multiple Listing Service.
In March, the median price (half higher, half lower) countywide was $439,900. That’s down about 3 percent from a year ago, but up $10,000 (2 percent) from February of this year.
Last month’s median selling price in King County reversed a downward or flat trend that started in July, according to Matt Deasy, director of Northwest Multiple Listing Service (NMLS), a residential real estate industry organization that tracks the markets in 19 counties in Washington.
Prices have been stable for six months and price correction happened last August and September, he said, adding, “The year-over-year price decrease the press is reporting is old news.”
Commenting on NMLS’ figures for last month, Deasy said prices have been stable for six months and conditions have changed to a buyer’s market because of an abundance of choices and slower pace of sales
Brokers added 13,274 new listings of single-family homes and condominiums during March, raising active listings in the 19 counties to 46,358. That inventory is about 34 percent larger than a year ago, Deasy reported.
