Buyers,sellers feel the impact of market cool down

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Real Estate

Buyers and sellers in the Seattle area are feeling the triumph and pain of a cooling real estate market in Western Washington.

Numbers released by the Northwest Multiple Listing Service show the number of homes on the market in the area is up 11 percent to 18,580 active listings, the highest it’s been since 2015. But sales are down; in King County, pending sales are down 23 percent and in Pierce County, they’re down 12 percent.

The new data also shows a $57,000 decrease in the median price of a home in King County in just three months. In August of 2018, the median price of a King County home was around $669,000. In May of 2018, it was more than $726,000.

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