King Co. home prices drop again in December

King Co. home prices drop again in December

Credit: Courtesy Diana Parkhouse via Flickr

King Co. home prices drop again in December

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by KING 5 News

KING5.com

Posted on January 4, 2012 at 6:28 PM

Updated Wednesday, Jan 4 at 6:28 PM

The median price of King County homes sold last month was $320,000, down 13.5 percent compared with the same month a year ago, according to data released Wednesday by the Northwest Multiple Listing Service.

Experts attributed the decline to more sales of bank-repossessed homes and "short sales" -- where a home is sold for less than what the owner owes on the mortgage.

Sales of condominiums in the county went up 20 percent last month compared with December 2010, with the median price dropping 18 percent to $185,000.

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