Posts Tagged as: Snohomish County Real Estate Market Updates

The chart below shows the market areas in Snohomish County and the number of plats with the sales over the last 12 months.
With 5,695 lots and homes to sell at an average of 118.65 sales per month we have a 48 month supply; this does not take into account the 1,123 developer held lots.
In the [...]

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Snohomish County has not been protected or isolated from the national housing crunch and real estate sellers are feeling the affect of bank owned properties on their property values more and more each day. As short sales, distressed properties and foreclosured properties start to saturate the Snohomish County real estate market homes prices will continue [...]

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When the real estate market corrects itself like it has in the 2007 and 2008 year it is not just the home being owner who is affected. The whole process is slowed and as such builders and developers have continued to reduce their risk by choosing not to purchase buildable lots. Some builders and developers [...]

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Snohomish County’s lot supply pipeline and new construction inventory is full of developments, vacant lots and new construction homes that are having difficulty selling. Through the real estate growth of the new millennium, builders were participating in one of the largest land grabs in recent history and it’s that land grab that developers have to [...]

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So it would seem that Snohomish County’s lot sales have flat lined. In the 1st quarter there where 47 sales, 2nd quarter increased to 69 and in the 3rd quarter there where 67 sales, a decrease of 2.9%. In the current real estate climate, builders are not to anxious to purchase additional lots and it [...]

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Yesterday John Wahl stopped by the office and shared a Puget Sound Market Trends report from New Home Trends, Inc. The Puget Sound Market Trends report covered King, Kitsap, Thurston, Pierce and Snohomish County and most of what the local real estate industry is experiencing is reflected in the data.
Housing prices increased dramatically from 2002 [...]

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Yesterday I received the 2nd Quarter 2008 lots sales figures and to my surprise there was a 46% increase. That is not saying much though since lot sales increased to a meager 69 for all of Snohomish County from 47 in the first quarter.
The price in which a lot sells for is the most important [...]

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Active Snohomish County Listings Year-to-Date
Residential: 5,763
New Construction: 1,594
Condominium: 1,393
Pending Snohomish County Sales Year-to-Date
Residential: 2,730
New Construction: 864
Condominium: 723
Closed Snohomish County Listings Year-to-Date
Residential: 2,177
New Construction: 667
Condominium: 544

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Even though it looks like contractors are still buying, developing and building homes the statistics show something different.
Snohomish County lot sales have dramatically fallen in the 1st Quarter 2008 by over 80% from 4th Quarter 2007 and more than 94% from 1st Quarter 2007. 1st Quarter 2008 produced 47 total lot sales where as [...]

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The report is just in and the results are astounding. Throughout Snohomish County we see many builders from the very large to the very small, the quality compared to price builders (shown by the higher Avg. $/Sq.Ft) and who offers the most Avg. Sq.Ft across their new construction homes.

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