The residential real estate market continues to improve in Washington.

The residential real estate market continues to improve in Washington.

A new report from the University of Washington says that sales of existing homes rose 14.7 percent in the first quarter of 2013, compared to the same period a year ago.

Prices are also on the rise. The statewide median home price was $237,000 in the first quarter, up 14.1 percent from the same time last year.

The report was released Thursday by the Runstad Center for Real Estate Studies at the University of Washington.