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Housing Prices in Western Washington Still Rising Despite Fewer Sales, Expanding Inventory
 
FOR IMMEDIATE RELEASE Aug. 6, 2007
FOR INFORMATION............Jack Johnson, NWMLS president & CEO, 425.820-9200
 
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For statistical information or assistance with interviews.. Cheri Brennan (Alliance Communications), 425.957-0654
Housing Prices in Western Washington Still Rising
Despite Fewer Sales, Expanding Inventory
KIRKLAND, Wash. (Aug. 6, 2007) - Fewer homes sold last month around Western Washington compared to 12 months ago, but they fetched higher prices, according to a new report from Northwest Multiple Listing Service. Its figures show both inventory and prices are still rising.
NWMLS members reported 8,614 pending sales across the 19 counties in its market area during July. That volume of offers made and accepted (but not yet closed) is down 6 percent from a year ago when members notched 9,165 pending sales.
Prices are still rising, but at more moderate rates in most areas. Area-wide, the median price for last month's closed sales of single family homes and condominiums rose 6.3 percent from July 2006.
In King County, the median sales price for last month's completed transactions of single family homes and condominiums (combined) jumped nearly 9 percent from a year ago, rising from $390,000 to $425,000. The median selling price for a single family home rose 10.6 percent to $481,000.
Members added 14,875 new ... more

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