Originally published July 5, 2007 at 12:00 AM | Page modified July 5, 2007 at 4:16 PM
Condos hot while overall area housing market cools
While the number of Puget Sound area homes for sale continues to build and appreciation moderates, local condominium sales are doing well...
Seattle Times business reporter
While the number of Puget Sound area homes for sale continues to build and appreciation moderates, local condominium sales are doing well.
Bucking the slowing appreciation trend the most were condominiums in Snohomish County, which saw a 19.6 percent increase in median sales price last month compared to a year earlier, June statistics released today by the Northwest Multiple Listing Service showed.
That put the median price of Snohomish County condos at $253,500 last month, just $26,750 less than the median price paid for condos in King County. The latter appreciated 12.1 percent year over year.
This price difference between the two counties is markedly greater for single-family houses. In King County last month, the median price of single-family homes was $470,000, or roughly $88,000 more than the $381,719 median price paid in Snohomish County for detached houses.
Median means half sell for more, half for less.
Last month King County had 12,282 houses and condos on the market, a 53.3 percent increase over a year earlier and about 1,000 more than in May.
This gives King County a 3.2 month supply of for-sale housing, which the MLS says means that if no other houses come on the market it would take 3.2 months to sell available inventory. That's half the national average of 6.8 months.
Snohomish County had 61 percent more inventory than a year earlier, Pierce County had 53.1 percent more, while Kitsap County's increased by 37.8 percent.
In King and Snohomish counties, single-family houses appreciated less than condos; up 8.1 percent last month in King County, up 9.1 percent in Snohomish County.
The majority of King County's single-family homes sold for $200,000 to $600,000, with sales strongest in the $400,000 to $600,000 range. Seven percent of sales were in the $1 million-plus range.
The median price of Kitsap County single-family homes was $284,950last month, a 6.7 percent increase year over year.
Of the four central Puget Sound counties, Pierce County posted the lowest appreciation: just 1.4 percent compared to the previous June. Its median single-family house price was $279,900 last month.
Elizabeth Rhodes: erhodes@seattletimes.com
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook
More Business & Technology headlines...
![]()

Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwautos
Turismo upgrade "Gran Turismo 5: XL Edition" for PlayStation 3 has features such as new car-tuning settings, new NASCAR vehicles, better replay video...
Post a comment
- Lakewood cop accused of embezzling $150K meant for slain officers' families
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- Agency set to investigate handling of 911 call about Josh Powell
- Quick decisions: How Washington hired its new football staff
- Historic day for gay marriage as another fight looms
- Justin Wilcox's versatile defensive style is the right fit for Huskies | Jerry Brewer
- It's Terrence Time: Enigmatic Ross leads Huskies
- Social worker recounts minutes before Powell fire
- $25B settlement reached over foreclosure abuses
- Club promoter convicted in brutal 2010 murder of Des Moines prostitute
- Gay-marriage bill passes House, awaits Gregoire's signature
434 - Historic day for gay marriage as another fight looming
346 - Sheriff's office unhappy with 911 dispatcher in caseworker's call
282 - 3 big health insurers stockpile $2.4 billion as rates keep rising
235 - Source: NY, California to sign mortgage settlement
208 - Oregon live game thread
153 - Pac-12 picks ... including the UW game
140 - Lakewood cop accused of taking donations for slain officers' families
114 - Department of Justice owes the Seattle Police Department an apology
88 - Thursday morning links --- and a video!!!
72
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- State Medicaid program to stop paying for unneeded ER visits
- One man's audacious pursuit of sailing history
- Darren Berg gets 18-year sentence for Ponzi scheme
- $25B settlement reached over foreclosure abuses
- A wandering gene's destructive path | Book review
- 'Gauguin and Polynesia': dazzling mix-and-match | Art review
- UW opening incubator facility for startups
- Controversial principal at Lowell Elementary takes job in Tacoma
- Lakewood cop accused of embezzling $150K meant for slain officers' families







