King County average home sale dips below $400K – Puget Sound Business Journal (Seattle):
Last month, the average closed home sale in King Counthywas $394,169 and the median price (haldf sold for more, half sold for was $335,000, according to data collectefd by the (NWMLS), which charts home sale activit y for 19 Western Washington counties. For all 19 counties, the average home sale in Marcghwas $317,443 and the median sale pric was $270,000. NWMLS officials offered several explanationsx for the drop in averagw homesale prices.
“A lingering imbalance betweeb supply (inventory) and demand (buyers), creatingb a favorable market for buyers (and) a sizable numbedr of foreclosed homes and short sales are included in the monthly talliesx so those deeply discounted properties tend to drag down prices according the NWMLS March The report also indicated that pendinb sales in March jumped 25 percent compared with rising to 5,701 transactions from February’s 4,550 level.
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