King County home sale prices inch upward in May

Puget Sound Business Journal
June 4, 2009

The median sale price of a home in King County inched upward to $351,500 in May from $350,000 in April and the average home sale price rose to $423,875 from $417,500 a month earlier.

The number of real estate closings in King County rose to 1,618 from 1,242 in April, according to data collected by the Northwest Multiple Listing Service (NWMLS), which collects real estate data from 19 Western Washington counties.

The number of pending home sales in King County also rose to 2,801 from 2,646 a month earlier. Across all 19 counties surveyed by the NWMLS, the median price rose to $280,000 from $270,000 in April and the average home sale rose to $329,680 from $316,979 a month earlier.

“Buyers who are waiting for prices to come down more have missed the bottom,” said Kathy Estey, a NWMLS director, in a statement.

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