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A Year Round Washington
Snowmobile Parks in Washington State
The sport of snowmobiling is growing every year and it easy to see why. Snowmobiling offers a wonderful family and friends experience as opens up opportunities to see Washington’s back country scenery. If you are like me, you can’t get [...]
Home Buyer & Seller Information
Purchasing Short Sales & Bank Owned: Deals or Headaches?
Bank owned and short sales properties dominate the Snohomish County real estate market and it’s no surprise that many buyers are actively searching for these types of properties. But are these properties the bargain of the century or are they [...]
Snohomish County Market Updates
Snohomish County Lot Sales 4th Quarter 2009
The lot sales in the 4th quarter of 2009 Snohomish County has increased by 36% over 3rd Quarter 2009, a significant gain since it’s not typical for banks to be lending to builders. More impressively, the prices on vacant land [...]
Snohomish County Housing Statistics for April 2008
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.