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February 13, 2009

Home sale prices here fall 13.7%

By JOURNAL STAFF

The median sales price of existing single-family homes in the Seattle-Tacoma-Bellevue market was $325,900 in the fourth quarter of 2008, a 13.7 percent drop from a year earlier, the National Association of Realtors said Thursday.

That decline was caused by a wave of foreclosures hitting the market. NAR said 38 percent of fourth quarter sales in Washington state were distressed, most of them in the greater Seattle area.


 
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