Published: Tuesday, October 7, 2008
House prices drop 10% in Snohomish County
Home sales continued to fall in Snohomish County during September, but things picked up elsewhere in the Puget Sound area, according to the Northwest Multiple Listing Service.
Pending sales were down 6.8 percent last month, combined with a 29 percent drop in closed sales for September, the listing service reported.
There were some bright spots in the report -- pending sales in Pierce County were up nearly 22 percent, and in Kitsap County, they rose 31 percent. Pending sales are offers accepted during the month that haven't closed.
Pending offers grew throughout the 19 counties served by the listing service for the first time in 19 months, spokeswoman Cheri Brennan said.
"We are definitely starting to see more buyers that have been waiting months to get off the fence," Mike Skahen, a Seattle broker who is a director of the listing service, said in a news release.
In addition to a drop in pending and closed sales, prices also fell in Snohomish County, dropping by 7.69 percent to $318,000 last month.
That compares with a combined median for single-family homes and condominiums of $344,500 a year ago.
For just single-family homes, the median was $332,000, a 9.78 percent drop from a year ago.
Prices for condominiums, which have risen during the past several months, rose again in September by 2.52 percent to a median price of $246,000.
The number of homes available last month rose to 7,070, an increase of 1.46 percent.
Pending sales were down 6.8 percent last month, combined with a 29 percent drop in closed sales for September, the listing service reported.
There were some bright spots in the report -- pending sales in Pierce County were up nearly 22 percent, and in Kitsap County, they rose 31 percent. Pending sales are offers accepted during the month that haven't closed.
Pending offers grew throughout the 19 counties served by the listing service for the first time in 19 months, spokeswoman Cheri Brennan said.
"We are definitely starting to see more buyers that have been waiting months to get off the fence," Mike Skahen, a Seattle broker who is a director of the listing service, said in a news release.
In addition to a drop in pending and closed sales, prices also fell in Snohomish County, dropping by 7.69 percent to $318,000 last month.
That compares with a combined median for single-family homes and condominiums of $344,500 a year ago.
For just single-family homes, the median was $332,000, a 9.78 percent drop from a year ago.
Prices for condominiums, which have risen during the past several months, rose again in September by 2.52 percent to a median price of $246,000.
The number of homes available last month rose to 7,070, an increase of 1.46 percent.
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