King County median home prices up double digits

SEATTLE - King County homeowners have seen the median price on their homes jump 12.5 percent from last year, according to the Northwest Multiple Listing Service.

The NMLS said that the median prices in Seattle are approaching the peak hit six years ago, just before the housing market sank, the Seattle Times reported. In June of this year, the price for a single-family home was $427,500, up 12.5 percent from the same time in 2012.

June was the third consecutive month that the median price rose past $400,000, and the 15th straight month of year-over-year price increases.

Another factor for the rise in home prices maybe fewer homes for sale. Only 4,203 home were on the market in June, down 17 percent, the paper reported.

Seattle was the 10th-hottest housing market in May, according to the real-estate company,