Home sales continued at a strong pace in September, even though a fast-shrinking supply of listings sent prices through the roof.
The combined price for single-family homes and condos in Snohomish County set a record median price of $248,000 last month, a more than 10 percent increase over a year ago, according to the Northwest Multiple Listing Service.
For single-family homes alone, the median price was $262,500 in Snohomish County. For condos, it was $175,000.
The climb in prices was even more significant in Island County, where the median price of $235,000 was up 21 percent from September 2003.
Median means half the homes sold for more and half sold for less.
Snohomish County prices were the third highest in the listing service area, which includes most of Western Washington. Homes in the San Juan Islands were the most expensive, with a median price of $330,000. Homes in King County were second at $299,610. Island County’s prices were fifth highest behind Jefferson County.
A contributor to the rise in prices was certainly the drop in the number of homes for sale. In Snohomish County, there were more than 600 fewer homes on the market last month than a year ago.
Listing service officials said the inventory of homes for sale is dropping over much of Western Washington.
The housing supply at low end of the price range is shrinking the fastest.
The listing service said that a year ago, more than half the homes in its service area were offered for less than $250,000. Now about 44 percent of the homes in the 15-county service area are below that range.
Last year, 14 percent of the homes cost more than $500,000. Now that figure is 17 percent.
September home sales
Snohomish County
* Sales: 1,378, down 4 percent from a year ago.
* Pending sales: 1,471, up 8 percent from a year ago.
* Listings: 4,067, down 12.3 percent.
* Median price: $248,000, up 10.25 percent.
* Days on market: 52, down five days.
Island County
* Sales: 192, up 30 percent.
* Pending sales: 203, up 28 percent.
* Listings: 699, down 7.4 percent.
* Median price: $235,000, up 21 percent.
* Days on market: 93, down two days.
Snohomish County
* Sales: 1,378, down 4 percent from a year ago.
* Pending sales: 1,471, up 8 percent from a year ago.
* Listings: 4,067, down 12.3 percent.
* Median price: $248,000, up 10.25 percent.
* Days on market: 52, down five days.
Island County
* Sales: 192, up 30 percent.
* Pending sales: 203, up 28 percent.
* Listings: 699, down 7.4 percent.
* Median price: $235,000, up 21 percent.
* Days on market: 93, down two days.
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