Are you getting the feeling like good homes are tough to purchase? At every opportunity, are faced with multiple offers and sellers accepting offers over list price? Market velocity has increased, home prices have escalated, and affordability is something from a by-gone time reminiscent of the foreclosure fallout. Without further ado, here are March 2015 housing statistics.
Snohomish County Housing Inventory
2015 has been marked by ever decreasing housing inventory and even less "good" homes for sale. As of March, housing inventory was down to 1.2 months (an equal housing market is 6 months) of standing inventory which greatly favors sellers. This low inventory is the key factor why buyers have to compete so heavily with each other.
Average Days on Market for Snohomish County Homes
Paralleling the housing inventory is the average days on market. In March, the average days on market decreased down to 46 days and, from the ground level, April seemed to follow the same declining trend.
Median Price for Under Contract and Sold Homes
Since March of 2013, the median home prices for sold homes have seen a steady incline to March 2015. The median price for under contract (pending) has seen more fluctuations over the last two years yet still shows a steady price increase.
90 Day Perspective Report for Snohomish County
The most active price points for homes were $250k - $300k, $300k - $400k, and $400k - $500k, comprising 63% of sales in the last 30 days.
Thoughts About the Housing Market
Are you trying to buy a house in this market? Have you been having deal to with multiple offer situations, escalation clauses, and offers far out pacing reasonable pricing expectations?
Thoughts?
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