Latest home-sales numbers show definite slowdown

Newly released September home-sales numbers show a marked cooling throughout Western Washington.

Median prices for completed sales of detached houses and condominiums were up 9.4 percent throughout the 17-county region — the first single-digit increase in 24 months, according to the Northwest Multiple Listing Service.

Compared with September 2005, King County home prices were up 8.6 percent last month, to a median price of $360,000. Median prices were lower in Snohomish County ($330,000) and Pierce County ($276,000), but both reported double-digit increases compared with the same month last year.

September's pending sales, which reflect transactions signed but not sealed, dipped sharply throughout the region, while the number of properties for sale climbed significantly.

In King County, for example, September saw 32 percent more properties on the market and 15.7 percent fewer sales. The biggest change came in Pierce County, which had 53.5 percent more properties available, and 24.6 percent fewer transactions last month compared with a year earlier.

Agents report that sales activity within Seattle has eased but remains strong in some areas.

"Six months ago, nearly all homes here were receiving multiple offers," said Al Johnson, assistant manager of Windermere's Mount Baker office. "Now it's closer to one-third to -half."

Elizabeth Rhodes: erhodes@seattletimes.com