Being a real estate broker it may be easier to sense the changing weather patterns. The winds are calming and the multiple offer storms and perilless negotiations could be subsiding.

We probably aren't the only ones; appraisals are starting to come in 'low' forcing negotiations of a different kind, the renegotiation. With that said, other real estate brokers may be having a difference experience yet review the statistics for yourself and see if the market is shifting, again.

June 2014's Housing Inventory

Snohomish County's housing inventory is at 2.3 months which continues to favor sellers as it has for the last 2 years. Could this be due to a 37% reduction in REO inventory as reported by KCM?

As of 4:31pm there are 2,483 residential units for sale in Snohomish County - these are properties listed on the NWMLS and don't include FSBO's or other for sale properties. 

Average Days on Market

In Snohomish County, there has been no meaningful change in 2014's 2nd quarter with homes taking an average of 38 days to negotiate a mutually accepted offer. Not surprisingly, the highest days on market coincide with the highest inventory levels.

Median Home Price for Pending & Sold

Looking at a rolling 2 year period, June 2012 to June 2014, Snohomish County's Sold median home price has increased by 25.8% - the median price was $260,100 in June 2012 and then $343,254 in June 2014. 

In the same 2 year period, the Pending (or Under Contract) home prices increased 23.3% - the median price was $271,843 in June 2012 and then $329,950 in June 2014.

The 23% plus increase is not what I would call a "stable or normal market".

The For Sale properties, in the same period, show a price increase of 24.9%. If the feeling I'm getting from day-to-day work continues then the gap between For Sale and Sold home prices should grow in coming months.

Snohomish County's 90 Day Perspective Report

In every price range, homes are selling nearly at or just above their asking price. The difference in either direction could be from buyer's wrapping their closing costs into the purchase price or getting the seller to pay a portion, not all, the buyer's closing costs.

If you're looking to purchase a home use the property search tool and if you're thinking about selling then check out the instant home value tool.