Are you noticing a shift in Snohomish County's real estate market? We have. Since July 2016 market times have increased and price reductions are becoming more common. However, below are the real estate statistics for July 2016 which will cover:
- Housing Inventory
- Days on Market for Pending Properties
- Supply and Demand Figures
- 90 Day Perspective Report
Snohomish County Housing Inventory July 2016
How low can it go? Two years ago the housing inventory was really starting to favor the sellers. Most of the bank owned and short sale inventory was being consumed and equity based situations were on the rise. Now, the market trend has been very strongly in the sellers corner with July 2016 having 1.3 months of standing inventory.
Snohomish County Days on Market (Pending Properties) July 2016
Across the board, homes are still selling less than 30 days and ending in July the average days on market was 22 days. With that said, Active MLS inventory the market times are showing signs of increasing.
Supply & Demand for For Sale, Pending, and Sold Properties
Active property inventory continues to rise into July yet remain relatively unchanged from the previous month. It is noticeable that the Pending and Sold properties declined during that same time period. Early signs that housing inventory will continue to grow?
Snohomish County in the Last 90 Days
Surprisingly, the most active price point is $120k - $160k which hasn't been the case over the last year.
The Snohomish County housing market is showing early signs of shifting and when August and September's statistics are published it will be see what the market is in for.
What are your thoughts?