Published July 2003

Home sales up almost
19 percent from year ago

By Mike Benbow
Herald Business Editor

Powered by record-low interest rates, home sales in Snohomish County surged again in May, rising nearly 19 percent from last year at that time.

Prices also rose strongly, according to statistics released by the Northwest Multiple Listing Service, which represents real estate agents in 14 counties, mostly in the Puget Sound area.

The median price in Snohomish County for single-family homes and condominiums was $222,950, a more than 6 percent increase from last year.

Officials said sales were generally good everywhere and attributed the strong market to already rock-bottom interest rates that continued to fall. The low rates have allowed people to buy even as prices have continued to climb in recent weeks.

For single-family homes alone, which account for most of the sales, the median price was $230,350 in Snohomish County. That compares with $217,250 for May 2002.

Condo prices also have climbed.

In Snohomish County, condo prices rose from $144,500 in May 2002 to $169,500 in May 2003.

The area with the highest-priced homes in Snohomish County was the community of Maltby near the King County line. Homes and condos sold there in May had a median price of nearly $280,000.

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