Home sales around western Washington dropped 15.4 percent in February from the same month last year, according to the latest figures from the Northwest Multiple Listing Service.

The decline in closed sales reflected lower volumes of pending sales during December and January. NWMLS members reported 4,623 closings systemwide, down from February 2003 when members logged 5,462 completed transactions.

Prices are up about 7.7 percent from a year ago. The median sales price for last month’s closed sales of single-family homes and condominiums was $225,000; a year ago it was $209,000. Residences in San Juan County fetched the highest price, with homes there having a median sales price of $367,750.

King County claimed second place on the price spectrum. Last month’s closed sales in King County had a median selling price of $275,000. For single-family homes only (excluding condos) the median sales price in King County was $295,950. Condominiums that sold in King County last month had a median price of $194,725, up sharply (11.3 percent) from a year ago when the median sales price was $175,000.

On average, homes that sold last month were on the market for 75 days, about four days longer than a year ago. Homes sold at the fastest pace in Snohomish County, where the average time on market was 67 days. In Thurston County, the average was 69 days, following by King and Pierce counties, where the marketing time averaged 71 days.

Kirkland, Wash.-based Northwest Multiple Listing Service covers most of western Washington and has a membership encompassing 1,338 brokerages with around 1,500 offices and 15,575 sales associates.

***

Send a Letter to the Editor for publication.
Send a comment or news tip to our newsroom.
Please include the headline of the story.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Black Friday starts now! We've got great deals on Inman Connect New York in-person and virtual tickets. Register now×
Cyber Week Sale: Get 1 year of Inman Select for $75.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription