Housing market cools, but prices continue to climb

  • MIKE BENBOW / Herald Writer
  • Wednesday, July 12, 2000 9:00pm
  • Local News

By MIKE BENBOW

Herald Writer

In general terms, 6 percent doesn’t sound like much.

Sure, it’s a nice raise. But it’s a pretty small increase in your stock portfolio. And a sandwich that’s 6 percent bigger is certainly nothing to salivate over.

When it comes to buying a house in Snohomish County, however, it’s more than chump change: $10,950 to be exact.

That’s how much more you’d have to pony up to buy a house here this summer than you would have paid a year ago.

The 6 percent increase since then means that the county’s homes, including single-family houses and condominiums, sold for a record median price of $189,950 in June.

That was the word Wednesday from the Northwest Multiple Listing Service, which serves real estate professionals in the central Puget Sound area.

The median, the point at which half the homes sold for less and half sold for more, was $179,000 last year.

Break out the single-family homes, and the numbers get bigger. The county’s median price in June for houses alone was $195,000, while condos sold for a median of $138,000, according to the listing service.

That isn’t much compared with King County, where the house median was $258,900 and condos sold for a median of $154,950. But it’s a lot more than Pierce County, where homes sold for a median of $155,225 and condos sold for $129,970.

While home prices continued to climb in June, sales slipped.

There were 906 houses and condos sold in the county in June, almost identical to the previous month, but down nearly 150 from last year, which was one of the best for sales on record.

Lennox Scott, president of John L. Scott Inc. and a listing service director, said the sales slip may have been due to concerns about interest rates, the government’s proposed breakup of Microsoft and the stock market’s big swings.

"We’ve moved from a frenzied market to a strong healthy market," he said, adding he expects prices to continue to rise, but at a slower rate.

While the number of sales has cooled, the homes sold are spending the same average time on the market, 47 days, as they were last year.

The most expensive homes in the county were in the Maltby area near the King County line, which has a lot of new construction. The median house/condo price there was $250,000.

The least expensive was in the area near Arlington, Darrington, Lake Stevens and Granite Falls, where the median price was $168,325.

You can call Herald Writer Mike Benbow at 425-339-3459 or send e-mail to

benbow@heraldnet.com.

Talk to us

More in Local News

Marysville firefighters respond to a 12-year-old boy who fell down a well Tuesday May 30, 2023 in Marysville, Washington. (Photo provided by Marysville Fire District)
Marysville firefighters save boy who fell 20 feet into well

The 12-year-old child held himself up by grabbing on to a plastic pipe while firefighters worked to save him.

Highway 9 is set to be closed in both directions for a week as construction crews build a roundabout at the intersection with Vernon Road. (Washington State Department of Transportation)
Weeklong closure coming to Highway 9 section in Lake Stevens

Travelers should expect delays or find another way from Friday to Thursday between Highway 204 and Lundeen Parkway.

Students arriving off the bus get in line to score some waffles during a free pancake and waffle breakfast at Lowell Elementary School on Friday, May 26, 2023, in Everett, Washington. (Ryan Berry / The Herald)
800 free pancakes at Everett’s Lowell Elementary feed the masses

The annual breakfast was started to connect the community and the school, as well as to get people to interact.

Marysville Mayor Jon Nehring speaks at the groundbreaking event for the I-5/SR 529 Interchange project on Tuesday, May 23, 2023 in Marysville, Washington. (Olivia Vanni / The Herald)
$123M project starting on Highway 529 interchange, I-5 HOV lane

A reader wondered why the highway had a lane closure despite not seeing work done. Crews were waiting on the weather.

Justin Bell was convicted earlier this month of first-degree assault for a December 2017 shooting outside a Value Village in Everett. (Caleb Hutton / Herald file)
Court: Snohomish County jurors’ opaque masks didn’t taint verdict

During the pandemic, Justin Bell, 32, went on trial for a shooting. Bell claims his right to an impartial jury was violated.

Gary Fontes uprights a tree that fell over in front of The Fontes Manor — a miniature handmade bed and breakfast — on Friday, May 12, 2023, at his home near Silver Lake in Everett, Washington. (Ryan Berry / The Herald)
Everett’s mini-Frank Lloyd Wright builds neighborhood of extra tiny homes

A tiny lighthouse, a spooky mansion and more: Gary Fontes’ miniature world of architectural wonders is one-twelfth the size of real life.

Will Steffener
Inslee appoints Steffener as Superior Court judge

Attorney Will Steffener will replace Snohomish County Superior Court Judge Janice Ellis, who is retiring in June.

Logo for news use featuring the municipality of Snohomish in Snohomish County, Washington. 220118
Report of downed hot air balloon turns up farmer’s tarp near Snohomish

Two 911 callers believed they saw a hot air balloon crash, leading to a major search-and-rescue response. It was a false alarm.

A few weeks before what could be her final professional UFC fight, Miranda Granger grimaces as she pushes a 45-pound plate up her driveway on Tuesday, July 12, 2022, in Lake Stevens, Washington. Her daughter Austin, age 11 months, is strapped to her back. (Olivia Vanni / The Herald)
Daily Herald staff wins 5 honors at annual journalism competition

The Herald got one first-place win and four runner-up spots in SPJ’s Northwest Excellence in Journalism contest.

Most Read