For more real estate news, please visit: Also check out BankingMyWay to compare mortgage rates.

Seattle region January home sales fell to their lowest level for that month in at least 15 years as foreclosures accounted for a greater share of all resale activity. The median price paid for all new and resale homes dropped nearly 16% off its peak to the lowest point in over three years, a real estate information service reported.

A total of 1,643 new and resale houses and condos closed escrow in January in the Seattle-Tacoma-Bellevue metropolitan statistical area encompassing King, Snohomish and Pierce counties. Sales fell 32.3% from December and fell 41.9% below a year earlier, according to MDA DataQuick. The San Diego firm tracks real estate trends nationally via public property records.

January's sales total was the lowest for any January since at least 1994, when DataQuick's complete Seattle-area statistics begin.

Sales have fallen on a year-over-year basis for 32 consecutive months.

The median price paid for all homes combined in January was $308,750, down 2.9% from $318,000 in December and down 10.6% from $345,216 a year earlier. The January 2009 median was 15.5% lower than the Seattle area's peak $365,200 median in June 2007 and was the lowest median for any month since it was $306,403 in December 2005.

The median has fallen on a year-over-year basis for 12 straight months.

The median paid for resale single-family detached houses in January fell to $300,000, down 15.0% from a year ago to its lowest point since May 2005. The resale house median stood 24.0% below its $394,500 peak in June 2007.