KIRKLAND, Washington (March 7, 2016) - Home prices in King County hit new highs in February as buyers tried to outbid each other for the sparse inventory in much of Western Washington.
"We're in for another crazy spring real estate market," predicts J. Lennox Scott, chairman and CEO of John L. Scott, Inc.
With the number of single family homes for sale in King County down nearly 30 percent from a year ago, prices on last month's sales surged 19.8 percent, jumping from $429,900 to $514,975. Ten other counties in the 23-county area served by Northwest Multiple Listing Service also reported double-digit price gains for single family homes that sold last month, according to its latest statistics. Condo prices surged 19.6 percent.
"Buyers who are…