Home sales in the Seattle area fell to the second-lowest level for an April in 16 years amid record-low sales of newly built homes. The median sale price dropped below the year-ago level for the ninth consecutive month, partly because this year distressed properties account for a significantly higher share of all transactions, a real estate information service reported.
A total of 3,587 new and resale houses and condos closed escrow during April in the Seattle-Tacoma-Bellevue metro area encompassing King, Snohomish and Pierce counties. April sales fell 1.8% from March and dropped 12.3% from April 2010, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records.
On average, sales have risen 3.5% between March and April since 1994, when DataQuick’s complete Seattle-area statistics begin. April sales were 33.0% below average for the month and were the second-lowest for an April since April 1995, behind the 2,769 sales in April 2009.
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