KIRKLAND, Washington (February 6, 2020) – “All indicators point to a vigorous spring market,” suggested broker Dean Rebhuhn when reviewing just-released statistics from Northwest Multiple Listing Service. The report covering 23 counties shows pending sales outgained new listings, record-low inventory that’s down 33% from a year ago, and double-digit price increases.
This information above taken from the NWMLS is exactly what my team has been seeing! We just got a buyer under contract on a home and it was their third offer! Another buyer lost out to a “cash” offer and there were 14 other offers on the same property! Yet another buyer competed with 10 offers. Yes, it is making for a busy January and start to the spring selling season for the Snohomish County Homes Team!
Snohomish County Statistics as of January 2020
Active Inventory +11% January 2020 vs. January 2019. 1504 available homes came on the market that is up 673 from December.
Pending Transactions +13% January 2020 vs. January 2019/1727 units +458 vs. December
Sold Transactions +12%! January 2020 vs. 2019 /975 homes sold.
Days on Market Snohomish County Active to pending 47 days vs. 49 a year ago.
Median home price in Snohomish County 505,000 +7% last year. Up $21,000 from last month! Our months of inventory has gone up giving more choice for buyers but keeping it a sellers’ market. There is currently 1.43 months of inventory in Snohomish county which is up 12%. In King County there is currently 1.40 months.
Area price and % based on last month (includes new construction
Bothell-$659,000 -2% from last month.
Edmonds/Lynnwood $520,000 +14%.
Everett/Mukilteo $478,000 +11%.
Snohomish/Monroe $510,000 + 25%—– WOW!!
Lake Stevens/Granite Falls $459,995 +18%
Marysville $424,600 +13%
King County Median home prices are $610,000 +3% over last year but down $77k from last month! With an average day on market of 76 days. King County does have a slower percentage growth over last year and days on market is up plus the price point dropped quite a bit over the end of 2019. However, bouncing around monthly depending on inventory and will keep us hopping into 2020.
Here is a snapshot of statistics for all counties under the Northwest Multiple services.