It's really inconceivable that he could be writing this much at his age. Hell, at any age. His wife and son are both novelists. I wonder if "Stephen King" has become a family effort. I doubt it, I'm just throwing it out there.
It's certainly possible, but I doubt it. The big difference between Stephen King and...say, James Patterson, is that King is (for the most part) consistently good, and often great. Patterson (who does "collaborate" with other writers) hasn't put out anything decent in years.