The August median price (half sold above, and half sold below the median price) of a house that sold in King County last month was $350,000, down nearly 8 percent from August 2010.
However, for the past six months, King County prices have remained flat, remaining in a narrow range, between $345,000 and $350,000, every month since March, according to the NWMLS.
29% of sales ‘distressed homes’
Sales of bank-repossessed homes and “short sales” — homes selling for less than owners owe lenders — have helped keep the median price low, accounting for nearly 29 percent of all August single-family closings in King County. That’s down slightly from distressed sales this spring.
From the Seattle Times, September 7, 2011
