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
Active Comparison Snapshot from April 2007 – 2008
*Condominiums where the only properties to increase in value
Active residential listings have jumped to 5,763 from 4,512, an increase of 27%, the average price of a home has dropped from $491,315 to $474,423, a decrease of 3.4%, the median price of a home dropped from $425,000 to $399,950, a decrease of 5.9% and the average time on market jumped from 73 to 94 days, an increase of 28.7%.
Active new construction listings have jumped to 1,594 from 1,473, an increase of 8.2%, the average price of a new construction home dropped from $517,345 to $497,707, a decrease of 3.8%, the median price of a new construction home dropped from $467,950 to $425,475, a decrease of 9% and the average days on market jumped from 104 to 127, an increase of 22%
Active condominium listings have shot up from 712 to 1,393, an astounding 95.6% increase, the average price jumped from $302,778 to $310,176, an increase of 2.4%, the median price of a condominium jumped from $279,950 to 283,000, an increase of 1.1% and the average days on market jumped from 63 to 84, an increase of 33%.
Closed Comparison Snapshot from April 2007 – 2008
*New construction seen the biggest decline in closed sales price
Closed residential listings dropped from 3,443 to 2,177 (Year-to-Date), a decrease of 36.8%, the average price of a closed residential listing dropped from $416,009 to $387,306, a decrease of 6.9%, the median price of a closed $349,950, a decrease of 6.7% and average days on market jumped from 68 to 95, an increase of 39.7%.
Closed new construction listings dropped from 873 to 667 (Year-to-Date), a decrease of 23.6%, the average price of closed new construction listing dropped from $494,232 to $431,286, a decrease of 12.7%, the median closed sale price of a new construction listing dropped from $442,950 to $398,950, a decrease of 9.9% and the average days on market jumped from 107 to 134, a increase of 25.2%.
Closed condominium listings dropped from 819 to 544 (Year-to-Date), a decrease of 33.5%, the average price of a closed condominium listing jumped from $248,699 to $267,626, an increase of 7.6%, the median price of a closed condominium dropped from $242,500 to $230,000, a decrease of 5.1% and average days on market jumped from 38 to 63, an increase of 65.8%.
These statistics reflect the last years national declining market but the decreases are not a large as others states. Washington’s strong economic and job market has supplied a buffer zone to the declining housing market and kept demand high enough so the bottom did not fall completely out.
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