King County home sales rise in June – Puget Sound Business Journal

Pending home sales in June rose 17.5 percent in King County compared with June 2011. Pending sales were also up in Snohomish County, by 13.2 percent, and Pierce County, by 3.4 percent.

Meanwhile, Snohomish County had the biggest increase in closed sales compared to June a year ago, with an 18.4 percent gain. Closed sales in King County were up 13 percent, while closed sales in Pierce County declined by 3.3 percent.

The median price of a closed sale in King County in June was $348,000, up 9.78 percent, compared with the median price of $317,000 in June 2011.

But the inventory of homes for sale remained tight in King, Pierce and Snohomish counties last month, with prices up most sharply in King County.

The Northwest Multiple Listing Service showed a 41.8 percent drop in total listings of single family houses and condominiums in King County in June, a 48 percent decline in total listings in Snohomish County and a 31 percent drop in Pierce County compared to June a year ago.

via King County home sales rise in June – Puget Sound Business Journal.