December home sales dip in Seattle

… But million dollar home sales were up 44.9 % from November 2010, and up 8.7% from a year earlier with a total of 100 sold.


Ah, it’s all a matter of perspective, isn’t it? Year-over-year both the number of home sales and home prices were down in December, and yet million dollar home sales were up. Clearly the recession is over for some.

Home sales in the Seattle metro area fell nearly 5% from the year-ago period amid record-low new-home sales.

The median sales price for the area was $285,000 for all new, resale houses and condos sold in December, up 1.8% from the prior month, but down 4.2% from a year earlier.

The median paid per square foot for resale single-family detached houses, also fell in December, to $166 per square foot — down 2.4% from November and down 3.8% from the previous year — marking the fourth consecutive month to post a year-over-year decline.

Foreclosure resales and investor purchases represented 25.5% of the resale market; the peak for foreclosure resales of 28.5% was recorded in January 2010.

Source: Housing Wire, financial news for the mortgage market

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