King County home sales dropped in October

Prices that sellers in King County and regionally are getting for their homes have followed the economy’s downturn, according to Northwest Multiple Listing Service, a residential real estate organization that tracks the housing market in western Washington.

For October’s 4,512 closed sales of single-family homes and condominiums combined, the median price was $291,000, down 7.4 percent from the same month a year ago. A comparison with September shows a 1.3 percent decline from the median selling price overall of $295,000.

In southeast King County alone, the number of closed sales was down 25 percent from a year ago, but the median price in the transactions was nearly the same. The 359 sales last month were for a median (half higher, half lower) of $310,000. The figures in those categories in October 2007 were 479 and $320,000.

For all of King County, closed sales (1,722) were 27 percent lower and the median sale price of $358,500 was $29,000 below 12 months ago.

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