Local home prices keep surging

Western Washington home prices continued to climb last month as 17 of 20 counties reported price increases of 20 percent or more compared with a year earlier. That's according to the Northwest Multiple Listing Service, which released March sales numbers today.

In the central Puget Sound area, Snohomish County posted the biggest year-over-year median price increase — a gain of $52,375, to $309,950 — for single-family homes and condominiums combined. That's a 20.3 percent increase.

King County's median combined price increased $40,050, from $324,950 in March 2005 to $365,000 last month.

Pierce and Kitsap counties each recorded year-over-year median price increases of $23,000 or more.

At the same time, area-wide sales were down 5 percent compared with a year ago. King County brokers cite a scarcity of for-sale homes for the decline.

Other counties, however, are reporting an increase in availability. The largest gain was in Thurston County, where listings were up 77.5 percent over a year earlier. Some growth is attributed to new-home construction.