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Puget Sound area home sales, prices still strong as backlog of buyers compete for scarce inventory

  • Average Home Price in King County Hits $508,000: (1st Time over $500k)
  • Prices up 15.5% YTD
  • Buyers Continue to Compete For Scarce Inventory
  • King County now "Well Above" Pre-Recession Record for July 2007

KIRKLAND, Washington (January 6, 2016) – Home prices have "clearly recovered" in King County and a few other areas served by Northwest Multiple Listing Service. Many member-brokers say prices are likely to keep rising as a backlog of buyers compete for depleted inventory.

Those were among reactions from brokers upon reviewing the December statistics from the MLS. The latest report shows the year ended on a mostly positive note…

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