Published February
2003
Report:
Home sales
finish year strong
By
Mike Benbow
Herald Business Editor
More than 900 Snohomish
County residents bought themselves a new home for the holidays in what
was an unusually strong December for the local real estate market.
About 932 homes were
sold in the county, a 31 percent increase from December 2001, the Northwest
Multiple Listing Service reported.
While the Sept. 11
terrorist attacks undoubtedly depressed sales in that year, last December’s
activity was definitely stronger than typical.
Listings were up
about 8 percent and pending sales were up nearly 25 percent from December
2001. The combined median price for homes and condominiums, meaning half
the homes sold for more and half sold for less, was $211,975 in December
2002, compared to $205,000 for December 2001.
The median price
for just single-family homes was $220,000, about $7,087 more than the
price in December 2001. For just condos, it was $148,200, about $250 less
than the price in December 2001.
While most local
sales indicators were positive in December, prices in Snohomish County
rose at a slower rate than for the average of the 14 counties represented
by the listing service. Prices were up 3.4 percent in the county compared
to 6.15 percent for the region.
Among the highest
increases in the Puget Sound area were prices in Skagit County, which
rose 64 percent. The average time homes in the county spent on the market
also continued to grow in December.
The average home
sold in November was on the market for 59 days. Homes sold in December
were on the market for an average of 60 days. That’s nearly a week longer
than in 2001.
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