Snohomish County is experiencing a real estate climate reminiscent of the hay-days of 2005-2007 and for a seller its one of the single greatest times to list a property. Inventory is low and demand is still steady yet what are the actual statistics with:
- Housing Inventory
- Days on Market
- Most Competitive Price Points
- Median Prices for Main Cities/Towns
Months of Available Housing Inventory
Inventory is scare and the last two months are the lowest inventory levels in history at 1 Month. So if you're feeling there is nothing available, you're right.
Average Days on Market
The average Days on Market to sell a Snohomish County home has decreased to 24 days. News outlets like to say homes are selling in hours, which is true in some cases, yet not all homes sell that fast. Also, homes that are more difficult to sell due to condition, location, or high listing price factor into the average days on market.
Median & Average Home Prices
Looking at the top six cities across Snohomish County, the Median Home Price is up 4.2% when comparing Apr. 16 to Apr. 15 and 9.8% when comparing Y-T-D for 2016. The Average Home Price is up 6.6% when comparing Apr. 16 to Apr. 15 and 8.2% when comparing Y-T-D for 2016
Median Prices April 2016
- Bothell: $522,000
- Lynnwood: $429,800
- Everett: $386,750
- Snohomish: $359,500
- Lake Stevens: $310,000
- Marysville: $299,250
Average Home Prices
- Bothell: $553,352
- Lynnwood: $467,967
- Everett: $417,238
- Snohomish: $385,897
- Lake Stevens: $329,747
- Marysville: $314,316
90 Day Perspective Report
Looking at the 90 combined report, only 4 pricing segments sold consistently over list price:
- $10,000 - $120,000
- $200,000 - $250,000
- $250,000 - $300,000
- $900,000 - $1,000,000
Even though there are reports of homes selling for far more than list price, its not common enough to skew the 90 day numbers.
In Conclusion
If moving buying a home is in your near future then be prepared to compete; however, don't be so willing to dramatically over pay. On the other side, if selling a home is in the plan, then there has been no better time to get top dollar.