Published August 2002

Report: Home sales,
listings drop, but prices remain high

By Mike Benbow
Herald Business Editor

Home sales dropped in Snohomish County in June, but prices remained at record highs, and houses sold much more quickly than last year.

That was the report from the Northwest Multiple Listing Service, which represents Realtors in 13 Western Washington counties.

The combined median price for single-family homes and condominiums in the county was $210,000, up 4.7 percent from June 2001. The median price in May was also $210,000, a record.

The homes sold spent an average of 46 days on the market, five fewer days than at this time last year, according to the listing service.

While both the high prices and quick sales times showed that demand for housing was solid, the number of listings, pending sales and closed sales all fell in June, indicating the market slowed down.

There were some 2,033 homes placed on the market in June, a 19 percent drop from the previous year. Pending sales, deals that hadn’t gotten through closing, also dropped about 19 percent, from 1,255 last year to 1,021 in June. Closed sales fell from 1,228 in June 2001 to 1,001 in June, a drop of about 18 percent.

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