King County Sales are at a Two Year High…What does it mean?

A recent Seattle Times article regarding sales in King County was published over the weekend.  The statistics were very interesting.  Here’s an excerpt:

The median price of a King County single-family home that sold in July was $384,000 — down 2.9 percent from $395,000 in June and down 13.7 percent from $445,000 in July 2008. No turnaround evident here.

But closed sales — which reflect demand — were up more than 10 percent from the same month last year, surging to their highest level since August 2007.

Here’s a LINK TO THE REST OF THE ARTICLE.

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