Prices that sellers in King County and regionally are getting for their homes have followed the economy’s downturn, according to Northwest Multiple Listing Service, a residential real estate organization that tracks the housing market in western Washington.
For October’s 4,512 closed sales of single-family homes and condominiums combined, the median price was $291,000, down 7.4 percent from the same month a year ago. A comparison with September shows a 1.3 percent decline from the median selling price overall of $295,000.
In southeast King County alone, the number of closed sales was down 25 percent from a year ago, but the median price in the transactions was nearly the same. The 359 sales last month were for a median (half higher, half lower) of $310,000. The figures in those categories in October 2007 were 479 and $320,000.
For all of King County, closed sales (1,722) were 27 percent lower and the median sale price of $358,500 was $29,000 below 12 months ago.