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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