Video: Western WA housing market a mixed bag

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SEATTLE – New numbers show the Western Washington housing market is a mixed bag. Credit is tight and interest rates are down, but so are median home prices.

John Spencer is having a tough time selling his condo on Seattle’s Queen Anne Hill. It has a spectacular view and the bathtub has its own TV, but he’s had to reduce the price twice in three months to just under $1.7 million. No takers.

"I think there are a lot of people out there that want to buy. But I think there's a lot of fear in the market,” said Spencer.

New numbers from the Northwest Multiple Listing Service show the median price of a single family home in King County is down more than $53,000 or 11 percent in the past year. In Snohomish County, it’s down $35,000 or just over 9 percent. In Pierce County , it’s down $34,000, which his just over 11.5 percent.

Still, that’s all better than the national average of 18 percent.

Realtors say there are signs of better times ahead.

"There's kind of some buzz about maybe that we have hit the bottom and it seems like buyers are kind of getting out there and starting the tour and actually make purchases,” said Jeff Lindsey, Coldwell Banker Bain.

In contrast to what has been happening in King, Snohomish and Pierce counties, prices rose from July to August in Kitsap, Island and San Juan counties.