Housing news for April

Housing prices for King County in the month of April were strong, and inventory was down 37 percent from one year ago, reports the Seattle Times based on data released by the Northwest Multiple Listing Service. The median house price in King County went up to $360,000, which is 9 percent better than last month and about 3 percent higher than April 2011.

Snohomish County’s median house price jumped to $255,502, which is almost 10 percent better than a year ago. A total of 741 homes were sold, 25 percent more than the number closed in April 2011.

Sales in April 2012 grew, year-over-year, in each of the following regions:

• Eastside — up 17 percent
• North King County — up 54 percent
• Southwest King County — up 39 percent
• Southeast King County  – up 7 percent

However, median prices in North, Southwest, and Southeast King Counties as well as on the Eastside dipped at varying levels.

Glenn Crellin, associate director of research at the University of Washington’s Runstad Center for Real Estate Studies, remains hopeful. “We’re at the beginning of the prime selling season, so to see this sort of strength coming out … this is very good news for the industry.”

See the full story, “King County home prices rise with fewer houses for sale,” at the Seattle Times.