• Average Days on Market: ⬆️ to 29 days
• Average Residential Home Price: ➡️ relatively unchanged at $ 841,431
• Average Price per Sq FT: ⬇️t o $415
• Average List to Sales Price: ⬇️ to 99.4%
• Active Homes for Sale: ➡️ relatively unchanged at 1,415
• New Listings: ⬇️ to 998
• Closed Sales: ➡️ relatively unchanged at 874

Residential includes single family homes,condominiums, and townhomes.

Would you like to create your own market reports? If so, visit the Market Report Webpage to get started.

Download the Barnett Associates Team’s Field Manual for Active and Retired Service Members

We’re proud to offer a dedicated Field Manual designed specifically for active and retired military service members to guide you through the home-buying process. Whether you’re considering your first home purchase with VA loan benefits or planning your next steps into retirement, this manual is packed with essential information to help you navigate every stage of homeownership.

Inside, you’ll find:

• An overview of the housing market
• How to qualify for VA loans
• Steps to buying a home
• Insights on renting vs. buying
• Tips on long-term investment and home maintenance

Late in 2024, Snohomish County has experienced a real estate market slow-down not felt since 2007. In the latest newsletter, we shared the latest county statistics with market time increasing, home prices declining, new listing down .. etc. and many sellers are probably wondering why there home isn't selling.

Looking back, the Snohomish County real estate market accelerated to fast with the most rapid increase in housing prices taking place during the COVID era - 2020. That rapid increase paired with rock bottom interest rates wasn't sustainable and now the area is feeling it.

In addition to housing prices, Boeing's current strike and looming potential layoffs are further compounding the housing market slow down which many fail to consider. People on strike, are furloughed, or laid-off typically no longer qualify for a home loan due to income changes.

The need to sell remains, and for those looking to stand out, here's a list of tips that can help you sell faster than the competition

Snohomish County Residential Housing Statistics for Sept. 2024

• Average Days on Market: ⬆️to 23 days
• Average Residential Home Price: ⬇️to $862,692
• Average Price per Sq FT: ➡️relatively unchanged at $428
• Average List to Sales Price: ⬇️to 98.6%
• Active Homes for Sale: ➡️relatively unchanged at 1,177
• New Listings: ⬇️to 908
• Closed Sales: ➡️relatively unchanged at 770

Interested interested in having market reports emailed to you? Create customizable reports on the website by visiting >>> Market Reports page.

Homeownership is the epitome of the American Dream, offering the stability of long-term housing, predictability in school districts, consistency in daily commutes, and a cherished space to create lasting memories. However, alongside these benefits come unexpected financial burdens that can catch new homeowners off guard. Let's delve into some of the unforeseen expenses that often accompany homeownership and discuss how to prepare for them.

Unexpected Home Repairs

Even with a thorough home inspection, unexpected home repairs can arise. Appliances, hot water tanks, heating and cooling systems, and plumbing can fail without warning, leading to significant and unplanned expenses. It's essential to have a contingency fund to cover these inevitable surprises.

These 7 INTERACTIVE graphs illustrate the Snohomish County real estate market as of the end of May 2024. They let you explore past trends by highlighting specific periods, giving you a clear view of the area's housing statistics over time.

Statistics Covered in This Article:

• Median Home Price
• Number of Homes for Sale
• Median Days on Market
• Median Percent of Last List Price
• Median Percent of Original List Price
• Median Price Per Square Foot.

June's Housing Statistics

Median Home Price: As of May 2024 the median home price was $828,995.

We know homebuyers are apprehensive with the new Buyer Agency Service Agreement that has been put into place at the national and state level. Yet, agency agreement is not as scary as it first seems and can serve many benefits to the homebuyer that may not be immediately apparent.

In the articles A New Era in Real Estate: The Ripple Effects of Burnett v. NAR on Buyers and Sellers and Why Do I Have to Sign a Buyer's Agency Agreement to See a House? we delved into the agreement, the industry impacts and possible outcomes, and what homebuyers are experiencing yet I want to try and simplify why the agency agreement is a good thing for all parties.

In the below graphic, we go through the Advantages and Disadvantages of a Buyers Agency Service Agreement with a broker of your choosing.

Have you requested a showing through Redfin, Zillow, or another local real estate website (like us) and the showing agent arrived and asked you to sign a Buyer Brokerage Services Agreement, aka ... a contract, before even showing the home? If so, you're not alone.

Also, you might have been asking yourself "Why do I have to sign a buyer's agency agreement just to see a house?" or "I don't know this agent and I'm not signing anything with them". Both are fair.

You may, or may not have, heard of the changes affecting the real estate industry that went into effect at the first of January 1, 2024. In short, if a real estate broker is going to be providing any buyer related real estate services then that agent and buyer have to have a buyer's agency agreement in place per Washington State law.

The team's blog tends to focus statistics on the Snohomish County housing market. However, to give a broader view of the housing market for consumers, here are the North Northwest Multiple Listing Service's February 2024 in their Market Snapshot. The snapshot article covers the following categories:

• Housing Inventory
• New Properties for Sale
• Pending Sales
• Closed Sales
• Months of Available Inventory
• Median Closed Price
• Median Closed New Construction Price
• Total NWMLS Members

Below are two formats to choose from: video and text + images.