October Homes Sales In the Seattle Metro. Area Increased 63%, Prices Drop

The Northwest Multiple Listing Service reported that in October 2009, the number of pending sales increased 63 percent as compared to the same month in 2008. At the end of October 2009, there were 38,159 active listings, a drop of 17.4 percent as compared to the same month one year ago.

In King County, closed sales were up 33 percent as compared to closed sales in October 2008. The median price of sold properties in King County in October 2009 was $377,5000, which was down from the $392,000 median price from October 2008. In Snohomish County the median prices of sold homes was $292,725, which was 12.2 percent lower than the median price from October 2008.

The sales of higher priced homes are increasing as buyers are taking advantage of soft prices. Higher end properties are selling for a substantial discount when compared to 2005 prices. As an example, a home in downtown Edmonds, that sold for $800,000 in 2005, can now be purchased in the range of $580,000.

To search for properties in the Seattle metropolitan area, go to my website www.davidsundquist.com