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Monday, August 20, 2012

Home-sale prices show first year-over-year gain since 2008

The selling price of homes and condos in Western Washington showed a year-over-year gain in April – for the first time in more than four years.

A home I just sold, 29 days on market, listed for $238,639, sold for $240,000,
appraised for $237,000 which was the final sales price.

Prices rose 1.27 percent between April 2011 and last month, after declining for 50 consecutive months, sometimes by double-digit percentages.

The median price for closed sales in 21 counties was $240,000, compared to $237,000 a year ago.

Brokers who reported the numbers to the Northwest Multiple Listing Service (MLS) did temper their optimism, though, saying any recovery in the housing market will be slow and incremental. Especially in outlying areas, the turnaround could be delayed, they said.

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