Home prices continue to climb

Published 9:00 pm Wednesday, June 6, 2007

Home sales in Snohomish County continued to slow down in May and the number of houses on the market continued to rise, according to a report Wednesday from the Northwest Multiple Listing Service.

Continuing a monthslong trend, that didn’t stop prices from rising. The median sale price last month was $353,779, a figure more than 9 percent higher than the number a year ago.

As was the case in April, a good chunk of the action was in the condominium market, where prices are more affordable and values are rising quicker. There were 765 condos on the market in May, a 117.95 percent increase from last year at this time, according to the listing service.

There were 250 condos sold in May at a median price of $239,950. That price was 18.06 percent higher than year-ago figures and more than twice as high as the price increase for single-family homes.

For single-family homes alone, the median price was $375,808, an 8.93 percent increase from May 2006. Sold last month were 1,128 houses. Pending sales were down 17.8 percent, so there should be a drop in sales again next month.

In King County, by comparison, the median price for single-family homes was $411,868, a 7 percent increase from last year. For single-family homes only, the median price was $469,000. For condos, it was $289,950.

Here’s a breakdown on sales for various areas in Snohomish County:

(610) Southeast Snohomish County – There were 903 homes on the market in May, up from nearly 500 a year ago. Of that figure, 215 sold, more than the same period a year ago. The combined median price for single-family homes and condos in this area was at the highest level in the county, $469,430. The prices reflect a higher level of new homes and also the area’s proximity to King County, which is creating a lot of jobs that are attracting new residents.

(730) Lynnwood, Edmonds, Mountlake Terrace – There were 935 homes on the market, up more than 225 from a year ago. Sales totaled 293. The median prices here hit $384,950, the second highest in the county. The most expensive condos, with a median price of $322,250, are found in this area.

(740) Everett, Mukilteo, Mill Creek – There were 1,504 listings, the biggest selection on the market. Sales also were highest, totaling 370. The median price was $319,900, the fourth highest in the county. This area also had the largest number of condos for sale, 309.

(750) Snohomish, Monroe, Sultan – There were 560 listings available. Of those, 129 sold. The median price was $325,000. The fewest number of condos were available in this area, 33. Those condos, though, had the lowest median price, $224,500.

(760) Lake Stevens, Granite Falls, Darrington – Listings totaled 654, up 228 from a year ago. There were 132 homes sold. Median price was $314,750, the lowest in the county.

(770) Stanwood, Arlington, Marysville. Listings were high in this area, totaling 1,197, up more than 400 from a year ago. Sales were strong, too, at 239 homes. The median price in this area, $315,000, was second lowest in the county.

May home sales

Here’s a look at combined single-family home and condominium sales data for Snohomish and Island counties last month:

SNOHOMISH COUNTY