King County home prices up 7 percent from last year

By Connor Radnovich @ SeattleTimes
Aug 7, 2012 @ 10:12 PM

King County home prices rose 7.2 percent in July compared with one year ago, extending their streak of such gains to four straight months, according to statistics released Monday by the Northwest Multiple Listing Service.

There were signs that June’s fast pace of price increases had abated, though.

The median price of single-family homes sold in July was $375,250, a 1 percent drop from June. And the year-over-year increase of $25,250, or 7.2 percent, was smaller than June’s 10.1 percent jump.

The number of closed home sales last month in King County was 26 percent higher than last year and the highest since August 2007, yet it remained practically flat from June, after five months of solid increases. [Continue Reading…]