By Mike Benbow
Herald Writer
Continued layoffs at the Boeing Co. literally hit home in April as Snohomish County suffered drops in home sales, pending sales and listings. Prices also began to level off.
The report issued Monday by the Northwest Multiple Listing Service showed:
While sales and price increases have slowed in recent months, homes are still spending less time on the market than they did last year at this time. The average home in the county took 53 days to sell this year, three days quicker than in April 2001.
The trend in Snohomish County was in marked contrast to King County, where listings were up 4.2 percent, pending sales rose 2.75 percent and prices were up 5.6 percent.
But actual sales in King County also fell — 5.6 percent and the average time on the market increased from 43 days last year to 49 this year. The combined median price in King County was $258,750.
Until recently, Snohomish County home sales mirrored those in King County. Prices were lower here, and many people attracted to jobs in King County were buying homes here and commuting.
That’s likely still happening, but the economy here is much worse than in King County. Unemployment was at 7.5 percent in Snohomish County in March and at 6.3 percent in King.
It’s been much tougher for Snohomish County to absorb continuing cutbacks at Boeing.
During the past year, the county has lost an estimated 3,200 aerospace jobs, according to the state Department of Employment Security.
As is usually the case, the more affordable homes were in north Snohomish County last month, with prices rising with proximity to the King County line.
Homes in the Stanwood, Arlington and Marysville areas had a median price of $179,950, the lowest in the county.
The highest were in the Maltby area south of Snohomish, with a median price of $275,975.
You can call Herald Writer Mike Benbow at 425-339-3459 or send e-mail to benbow@heraldnet.com.
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