March 16, 2017

In Review: Snohomish County's 2016 Home Builder Report

Are you wanting to learn more about Snohomish County's new construction home market with vacant lot and new home sales? Then take some time to read the Snohomish County's 2016 Home Builder Report for loads of information on last years figures and a few projections.

In the 2016 Home Builder Report we'll cover:

  • Average Lot S.Qt / Median Home Price
  • Lots Sold by Area
  • Lot Sellers & Buyers
  • Top Builders
  • New Home Sales by Area
  • New Home Sales by Price

Lots by Avg. Sq.ft / Median Sales Price

Not surprising, lot prices tend to be more expensive in south county with Bothell having the most expensive lots per average square foot - $227,833 for 6,600 sq.ft - followed by Mill Creek and then Everett.

In north county, Stanwood and Arlington's average lot size is a respectable 1 acre with a price ranging from $132,780 - $175,000. The then decrease substantially when heading to east county.

Snohomish County average lot square feet and median sales price

Lot Sales by Area

South county, particularly Bothell, wears the crown of top lot sales with 163 in 2016. Then its off Lake Stevens with 70 and Monroe with a sizable 70 lot sales in 2016. Snohomish's 45, Arlington's 29, and Mill Creek's 24 lot sales are also respectable.

Snohomish County Lot Sales by Area

Top 10 Snohomish County Lot Sellers

The top 10 lot sellers have less familiar names than their builder counterpart yet Gracie's Place and Select Homes sold the majority of the lots with a combined 171.

*See Recorded Lot Sales by Plat name below for more information.

Snohomish County Top 10 Lot Sellers

Top 10 Snohomish County Lot Buyers

Many familiar names purchased Snohomish County lots with the most significant being:

  • Mainview Homes w/ 82
  • Richmond American w/ 70
  • RM Homes w/ 63

Where as the other county builders didn't acquire as many lots in 2016.

  • Westview Ridge Homes w/ 29
  • East Everett Invest. w/ 29
  • Eagle Springs w/ 27
  • Lennar NW w/ 27
  • DR Horton w/ 22
  • Vistas at Sunrise w/ 19
  • Timber Ridge Homes w/ 15

Look for all these builders' communities to spring up.

Snohomish County Top 10 Lot Buyers

Recorded Lot Sales by Plat Name

Snohomish County will see big development, primarily in east county, in the near future with Monoe's Eaglemont with 82 lots, Snohomish's Shadowood with 39 lots, Lake Stevens' Westview with 58 lots between to builders, and Bothell's Woodrige Glen with 27 lots.

Builders with the largest plats are MainVue Homes, RM Homes, East Everett Investments, Westview Ridge Homes, and Lennar NW. Other notable builders are DR Horton, Cornertsone Homes, Vistas at Sunrise, and Acme Homes.

Below is the entire list of recorded lot sales in Snohomish County for 2016.

Plat Name
Area
# of Lots
Avg. Lot Size
Azi Lee Estates 2
Everett
2
5,000
Azi Lee Estates 2
Everett
1
5,000
Birch Plat
Bothell
2
13,289
Braeton Woods
Bothell
1
11,269
Braeton Woods
Bothell
1
11,269
Coyote Run RCS
Stanwood
1
55,000
Crestview Village
Mill Creek
24
4,000
Dunroven Ranch
Lake Stevens
12
6,350
Eagle Spring
Arlington
27
25,771
Eaglemont 1-3
Monroe
46
5,625
Eaglemont 1-3
Monroe
36
5,625
Gracie's Place 2
Bothell
70
6,000
Newberg Crest
Snohomish
2
88,000
Outlook Creek
Bothell
15
3,500
Pilchuck Estates
Granite Falls
4
7,200
Pinebrook
Arlington
1
43,500
Pinebrook
Arlington
1
43,500
Shadowood Estates
Snohomish
20
4,100
Shadowood Estates
Snohomish
19
4,100
Stevens Court N&S
Bothell
7
5,662
Stevens Court N&S
Bothell
7
5,662
Sunrise at Mill Valley
Bothell
19
6,000
Timber Ridge Estates
Sultan
14
4,500
Timber Ridge Estates
Sultan
1
4,500
Toscana
Bothell
6
6,000
Toscana
Bothell
4
6,000
Toscana
Bothell
4
6,000
Westview Ridge
Lake Stevens
11
10,000
Westview Ridge
Lake Stevens
10
10,000
Westview Ridge
Lake Stevens
9
10,000
Westview Ridge
Lake Stevens
18
10,000
Westview Ridge
Lake Stevens
10
10,000
Whisperwood Estates
Snohomish
4
26,600
Wildrige
Stanwood
7
43,560
Wildrige
Stanwood
2
43,560
Wildrige
Stanwood
1
43,560
Wildrige
Stanwood
1
43,560
Wildrige
Stanwood
1
43,560
Woodridge Glen
Bothell
27
11,188

 

Now the 2016 Home Builder Report will move from lot sales into more familiar territory with last year's new home sales, the most predominate areas, average prices, and who the top builders were.

New Construction Home Sales by County

Snohomish County finished 2nd in Washington State with 1,609 new home sales, just behind King County's 1,739 and just in front of Pierce County's 1565.

New Construction Home Sales by County

New Construction Sales Volume by County

Even though Snohomish County was near King County in total new home sales, King County's total sales volume was over $400 million that of Snohomish County. Not surprising since King tends to have higher home prices than its northern neighbor.

The total new home sales volume was $819,777,122 which equates the average sales price, of a new home in Snohomish County, to $509,495.

New Home Sales Volume by County

New Construction Home Sales by Area

The primary reason Snohomish County's average new construction home price was as high as it was, the majority of new homes sales occurred in Bothell and Lake Stevens for a combined total of 1,046 sales.

Top 5 Cities for New Home Sales

  • Bothell w/ 766
  • Lake Stevens w/ 280
  • Marysville w/ 101
  • Lynnwood w/ 70
  • Monroe w/ 65

New Construction Home Sales by Area

Average New Construction Sale Price by Area

Now viewing the average new construction sales price by area a name arises that isn't mentioned much, Maltby. Maltby reigns at the top with Edmonds coming in second.

Top 5 Cites based on Avg. Price

  • Maltby w/ $799,502
  • Edmonds w/ $729,173
  • Bothell w/ $574,895
  • Mountlake Terrace w/ $548,071
  • Mukilteo w/ $515,955

It should be noted, the average sales price planes out through Mill Creek, Lynnwood, Monroe, Arlington, and Snohomish until declining, rather sharply, to Gold Bar and Sultan.

New Home Sales Average Price by Area

Top 10 Snohomish County Builders

It wasn't even close in 2016 who built the most homes, DR Horton. Here are the top 10 builders for Snohomish County. What I didn't expect to see is Quadrant with only 44 homes in the county.

  1. DR Horton w/ 374
  2. Lennar NW w/ 164
  3. MainView w/ 102
  4. Cornerstone w/ 100
  5. Harbour Homes w/ 75
  6. RM Homes w/ 70
  7. Seattle Pacific Homes w/ 68
  8. Sunquist w/ 67
  9. Talon Landing w/ 44
  10. Quadrant w/ 44

Top 10 Snohomish County Builders 2016

New Construction Home Sales by Quarter

Below is the breakdown of Snohomish County's new home sales by quarter which seen less sales in the 1st quarter and rising through the 2nd and 3rd and declining a bit in the 4th. Not surprising.

  • 1st Quarter 315
  • 2nd Quarter 391
  • 3rd Quarter 472
  • 4th Quarter 431

 

New Construction Home Sales by Quarter

New Construction Sales Volume by Quarter

Snohomish County's new construction sales volume followed the same trend as its quarterly sales figures.

  • 1st Quarter $161,790,084
  • 2nd Quarter $193,282,268
  • 3rd Quarter $238,176,112
  • 4th Quarter $226,528,658

New Construction Sales Volume by Quarter

Looking into 2017 New Home Market

There will definilty be new developments in Bothell, Lynnwood, and Lake Stevens springing up throughout the year. However, builder will tend to release the inventory over time versus all at once.

In a search ran on the NWMLS today (3/16/2017), there are currently 169 new construction homes for sale in one of three phases: Presale, Completed, or Not Completed.

If you're looking for a new construction property are price, builder, location to services, proximity to schools, and/or access to recreation important to you when deciding on a new home?

Property Search: All New Construction Homes for Sale

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