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Home prices down 11% in King County

Prices dive as “distressed” home sales rise in King County

The median price of houses sold in King County last month was $321,700, nearly 11 percent less than in November 2010. Brokers and analysts agree the drop largely was driven by increasing sales of “distressed properties.”

By Eric Pryne

Seattle Times business reporter

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Home-sale prices saw another double-digit drop in November, according to statistics released Monday by the Northwest Multiple Listing Service.

The median price of houses sold in King County last month was $321,700, nearly 11 percent less than in November 2010 and only a hair more than October’s post-boom low of $320,000.

The median King County condo price fell even more steeply, from $225,000 in November 2010 to $191,250 last month — a 15 percent decline.

Read the full article: http://seattletimes.nwsource.com/html/businesstechnology/2016942200_homesales06.html

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