Snohomish County Housing Market Report and Real Estate News for July 2016
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Real estate market data for Snohomish County, WA provided by the North West MLS.
View all Snohomish County Real Estate today HERE and see all houses listed in the North West MLS. Call 425-308-6641 to Buy or Sell a House in Snohomish County, King County or Skagit County today. Hablo español
We have been seeing a consistent hot market in Snohomish County through the summer months. Snohomish County has been experiencing all time inventory lows all year. Also, interest rates are still at all-time lows. Compared to last month inventory is going up by a small amount. This month inventory sits at 1.1 months supply of inventory, last month was 0.9 months in Snohomish County. Homes are selling between 98% – 159% in the price ranges $10,000 through $1,000,000. When all price ranges are selling at full price and over this is usually because of the low inventory and the amount of buyers that need homes. Houses are selling within days of being on the market in most cities with multiple offers. Buyers are offering over asking price in most cases in order to get offers accepted. When interest rates are low it helps the buyer be able to afford more when buying a house so many people are taking advantage of this opportunity.
Snohomish County Home Prices
The rise in home prices have slowed a bit yet they are still rising. They are up 9.7% year to date. If you are considering buying a home you can still find deals on a house in Snohomish County, however hiring a good real estate agent who understands the market is a must to get offers accepted. Don’t wait on the sidelines for too long, many of our listings are selling within a few days of hitting the market in many cities. As you can see from the graph below, listings are mostly selling exactly for asking price and over. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the home on which you are making an offer.
Bothell, WA has 200 units for sale, the average price is $564,727 and the average time on market is 27 days.
Everett, WA has 292 units for sale, the average price is $428,552 and the average time on market is 24 days.
Snohomish, WA has 116 units for sale, the average price is $391,159 and the average time on market is 36 days.
Lake Stevens, WA has 169 units for sale, the average price is $361,654 and the average time on market is 35 days.
Marysville, WA has 225 units for sale, the average price is $333,179 and the average time on market is 20 days.
As of June 30th, 2016 the current housing inventory for Snohomish County is only 1.1 months. That means that if no other homes come on the market houses will sell out within a little over one month. Low inventory will suggest that homes are not sitting on the market for very long and most have multiple offers. Currently, Snohomish County as whole homes has an average time of 21 days on the market before they sell. This would suggest that buyers are in a position to make an aggressive offer on a home, especially if it is their dream home. Sellers should make sure to price their home near or at the market value if they expect to get an offer from one of those interested buyers. Low inventory is one indicator that prices should continue to rise until there is a more balanced inventory. With that being said, fall and winter are coming and that is the season where the market will usually balance out. Sellers should beware when accepting offers too high over asking price because homes still have to appraise at the value in order for buyers to get financing.
Find Homes for Sale in Snohomish County
Visit my website to search for homes in Snohomish County or to be notified when Snohomish County homes come on the market.
To find out what you home is worth in the current market use our FREE Home Evaluation Tool or call 425-308-6641. Hablo español