EVERETT — Home sales in Snohomish County rose nearly 19 percent in July as the county real estate market continued to break out of a long downward spiral.
A total of 858 homes were sold last month, compared to 719 in July 2008. Sales were also up in June after many months of decline.
A continuing fall in home prices certainly helped sales. The combined median price of single-family homes and condominiums was $292,000 in July, a drop of more than 12 percent from a year ago.
Meribeth Hutchings, owner of the Windermere real estate office in Lake Stevens, said the government tax credit for first-time buyers was also a factor. “There seems to finally be a feeling of urgency to take advantage of this program before it goes away,” she said.
Listings continued to fall as the county has whittled through a large number of homes for sale. Because of the low prices, many owners have kept them homes and placed them on the rental market. There were 7,459 homes offered for sale in July, 24 percent fewer than in July 2008.
As has been the case in recent months, pending sales rose in July. Those are sales that weren’t completed by the end of the month. That number was up nearly 32 percent in July.
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