NWMLS #s: Prices Up 20% Y-o-Y

The Seattle Times reported yesterday afternoon on the jump in home prices, King County house prices jumped almost 20 percent over year:

The median price of single-family homes sold in King County leapt in March to $392,000 as buyers, many waving all-cash offers, bid up the region’s tight inventory.

With 40 percent fewer houses for sale than a year ago, March’s median closing price was 19 percent higher than the previous March and up 7 percent from February, the Northwest Multiple Listing Service reported Thursday.

We’ll have our report out on the condo market early next week. Sit tight! In the meantime here’s the stat they quote about condos, “The median for condos was $292,500, almost 25 percent higher than a year ago.”