Home Prices Up Nearly 18%

Home prices in Snohomish County tilted more toward a buyers' market in April, but that still did nothing to rein in prices, the Multiple Listing Service reported.

The combined median price for single-family homes and condominiums rose to $312,000, a 17.74% increase from April 2005, according to the service, which represents real estate agents in Western Washington.

For single-family homes, the median price was $329,000, a nearly 18% hike from a year ago. For condos, the median was $199,950, up 7.8% from April 2005.

Median means that half the homes sold for more and half sold for less.

While prices remain high, the increases are ebbing in comparison to previous months, which were typically 20+% higher than year-ago figures.

The number of available homes, which has been shrinking for some time, actually increased in April by 10%, but it wasn't enough to push prices down. While prices and listings are up, sales are down.

Pending sales, meaning sales in which the paperwork wasn't completed by the end of April, were down nearly 4%. Completed sales dropped 7.4%.

Still, sales remain at a high level. They're only slightly down from April 2005 sales, which set records in much of the Puget Sound area.