Snohomish County Statistics December 2017

December is known for being on the cold side and a sign of a slowing Real Estate market as everyone starts to enjoy the holidays. Not this year however! December was smoking hot. A new record of 16 days inventory pushed buyers to snatch up everything they could and quickly.

Active Inventory

 -2% December 2017 vs. December 2016

781 available homes currently on market -347 vs. last month.

Pending Transactions

-4% December 2017 vs. December 2016

1255 units -336 vs. last month

Sold Transactions

+12%!!! December 2017 vs. 2016

1516 units +101 than last month

Days on Market

Snohomish County Active to pending 34 days vs. 39 a year ago. Up 4 days from last month (normal with the holidays).

Median home price in Snohomish County 448,000 +12% last year.  Up $4,000 from last month.

Area price % based on last Quarter

All percentages are up and also include new construction

Bothell + 20%, Edmonds/Lynnwood +15%. Everett/Mukilteo +10%

Snohomish/Monroe+ 17%. Lake Stevens/Granite Falls + 15%.  Marysville +13%

King County Median home prices are $611,000 + 15% over last year and up $27k from last month.

Woodinville area Median price is $678!!

Of the more than 3,100 counties across the U.S., none saw a bigger net increase than Pierce and Snohomish in movers from other counties. Is this a reflection of people being priced out of King County?96961280-1033-11e7-92dc-5affb0e7ac5c

Weekly Real Estate Awesomeness

seattle

REAL ESTATE news

Latest report from the NWMLS

Why it’s now an empty nesters housing market

When buyers cannot afford Seattle most head north into Snohomish County therefore we keep a close eye on the housing market all over and these stories paint a clear picture of why so many are moving this way. 

Seattle’s scorching housing market positions it as a city on the rise.

What’s it like to buy and sell in Seattle’s crazy market 

Prices soar leading some to give up

Boarded up house in Ballard lists for $595K!!

MORTGAGE & FINANCE news

Crowdfunding your down payment: a new way to buy a home? 

3 steps to figure out how much mortgage you can afford 

HOME trends

Modern backyard cabin is an urban oasis

5 most popular landscape design trends for fall 2017

City of Seattle begins work on a proposal to encourage development of backyard cottages

Make it a great week.

Jen Murrweiss- www.snohomishcountyhomesinc.com

 

 

 

 

 

 

Homes For Heroes

Picture of who is elgible

I am privileged to announce that I have officially joined the Homes for Heroes organization in their mission to help heroes across the country save thousands of dollars in the process of buying or selling their home.

What is Home for Heroes?

Homes for Heroes is an organization that was formed after the tragic events of 9/11 as a way to say “Thank You” to the heroes of our nation. The Homes for Heroes organization is composed of a network of real estate professionals who are prepared to give real savings to those who serve their communities when they buy, sell, or refinance a home. This program is our way to say, “Thank you!”

Who qualifies as a hero?

Our core group of local heroes includes but is not limited to: Military personnel, Police Officers, Firefighters, First Responders, Educators, and Health Care Workers.  If you think you might qualify, please contact me and tell me about what you do for your community. When you are buying, selling or refinancing a home, let us say thank you for all that you do!

How much will I save?

The total amount you save will depend on the final selling or buying price of your home. Homes for Heroes Affiliate Realtors agree to rebate equal to 25% of the gross commission they receive on your transaction. Discounted lender fees are also offered on purchases and refinances with a Homes for Heroes lender. The savings can be thousands of dollars!

Are there a lot of extra applications, forms, and paperwork?

No! Homes for Heroes promises no extra forms, no red tape, no fine print, no hidden fees, and no catch!

Homes for Heroes offers me the chance to help our local community heroes achieve their dreams of home ownership.  If you are interested in taking advantage of this opportunity, please contact me for more info or you can register now at www.snohomishcountyheroes.com to get started.

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November Real Estate Market.. HOT, HOT!

 

Snohomish County Statistics as of November 2016

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November is known for being on the cold side and normally signs of a slowing Real Estate market as everyone starts to buckle in for the winter and holidays. Not this year however! November was smoking hot with only 1.4 month of inventory and buyers were snatching up everything they could. I saw multiple offers skyrocketing and bidding wars with some homes being bid up 100K. The picture to the left is a Bothell home that had 32 offers and was bid up 95k! Crazy!!

Here are your local inventory stats.

 

Active Inventory

 +17% November 2016 vs. November 2015

1111 available homes currently on market -800 vs. last month.

Pending Transactions

Up 1% November 2016 vs. November 2015

1528 units -88 vs. last month

Sold Transactions

+27%!!! November 2016 vs. 2015

1452 units -182 than last month

Days on Market

Snohomish County Active to pending 33 days vs. 47 a year ago up 7 days from last month.

Median home price in Snohomish County 399,000 +14% last year.  Up $7,000 from last month.

Area price % based on last Quarter

All percentages are up and also include new construction

Bothell + 16%, Edmonds/Lynnwood +17%. Everett/Mukilteo +12%

Snohomish/Monroe+ 11%. Lake Stevens/Granite Falls + 17%.

Marysville +14%

King County Median home prices are $523,000 + 16% over last year and up $6k from last month.

Woodinville area Median price is $550!!

Snohomish County Statistics July 2016

Snohomish County HomeSnohomish County HomeSnohomish County Home

Active Inventory

Prices are up 5% over last year same time July 2016 vs. July 2015

2141 brand new listings in July that is up 53 from last month. 2141 total active at the end of the month.

Pending Transactions

Up +3% July 2016 vs. July 2015

2079 units went pending last month that is 62 less however than June.  

Sold Transactions

+9% July 2016 vs. July 2015.

1673 units +11 more than last month

Days on Market

Snohomish County Active to pending 25 days vs. 36 a year ago. Incredible!

Median home price in Snohomish County $387,000!!

Median home price in King County $523,000. Snohomish county is gaining however the gap between King and Snohomish is growing.

Months of inventory

If no additional homes would be put on the market, there would be no inventory left after 1.25 months in Snohomish County. In King County that figure is 1.2 months. A balanced “normal” market is 3-6 months. Buyers’ market more than 6 and Sellers less than 3 months.

Area price % growth based on last Quarter

Bothell + 14%, Edmonds/Lynnwood +5%. Everett/Mukilteo +11%

Snohomish/Monroe + 11%. Lake Stevens/Granite Falls/Arlington/Darrington +7 %. Marysville +7%

New Construction is included in these percentages.  

July 2016 Market Characteristics:

  • Sellers: position your home to get premium pricing.
  • Buyers: need to be Buyer-Ready, Day-One™ to get a home in today’s market.
  • The market continues to be more intense than during the same time in year 2015.
  • Sales activity in King and Snohomish County is lower than a year ago but July 2015 was the best July on record. If we had more homes for sale, we would have had more sales activity.
  • There’s a severe shortage of homes for sale close to job centers. We are virtually sold out, and each new property on the market is getting instant action and most of the time multiple offers.
  • More new listings will lead to a higher level of sales activity.
  • Prices are increasing in the price ranges and the market areas where 90 percent of the sales activity is taking place, leading to premium pricing for sellers in those areas.
  • Interest rates continue to be in the upper threes.
  • Multiple offer everything
  • More new listings come on market from March through October than November through February.
  • More selection but also more intense.

 

Home Sellers where are you???

We need sellers!!! Now that spring is almost here and rates are very low buyers are out in force! I just put an offer for a home buyer that had 14 offers on it in one day! Ouch, talk about competition. So what can you do to get your home ready for the spring selling season? Gain some knowledge and gain an advantage with my ideas and the link (5 ways spring home sellers can gain an edge ) for a few more.

Here are some simple upgrades to increase your home’s value for my clients

You don’t have to spend $$$ thousands of dollars $$$ to add value to your home.

Change fixtures and hardware. This adds appeal and newness quite easily. If you’re selling your home a new mirror in the bathroom and new fixtures can make a huge difference. Upgrade sinks, showerheads and faucets to newer water conserving models in sleek finishes. Sorry folks but brass is dated and out! Make sure all light bulbs work! If wanting a remodel on a larger scale replace cabinets, windows and doors. New molding that’s been painted also really pops out.

Declutter. Clean and organize storage areas including the attic and garage. Look for Rubbermaid bins on sale, fill them up and stack neatly in the garage or a closet. You will be clean and ready to move. This is also an ideal tip before a showing your home to a prospective buyer. Each family should have their own bin and before a showing just quickly put everything that is out in. Believe it or not organization adds tremendous value. Keep kitchen and bathroom counters clear. Cleanliness gives your home more room and a newer feeling that a buyer will appreciate.

Replace appliances. From the stove, refrigerator, dishwasher to the washer and dryer (if leaving) upgrading appliances to newer energy efficient models adds instant value and convenience not to mention Earth friendly.

Spiff up landscaping. Ever hear of curb appeal? An ugly front yard can torpedo your home’s value. Add flowers to add color. A study was done on homes for sale in which red flowers were used on the front door step. These homes sold faster and were more appealing to the client. You can also add path lighting for style and safety. Dust off the exterior. Gutters, siding and windows are often forgotten. Clean them! Crud cutter is wonderful for cleaning off gutters and getting the grime off. Also, make sure everything is properly sealed and in good shape. It looks better and helps conserve energy.

The more you do prior to selling the less the buyers will ask for in an inspection. Preventative maintenance is one of your biggest selling advantages. If not it will become a costly nightmare. What you may have been able to do yourself now has to be done by contractors; as all receipts are needed with documentation in the middle of the selling process. Not to mention you are trying to meet deadlines and make the buyers happy so they don’t just completely walk away from the transaction.

Let me give you an example: I was helping a seller of mine prepare his rental house for putting on the market. I gave them a hand out sheet to go over and check all main components plus attics, crawl space, roof ect. Even with all my advice they did not feel it necessary to check the crawl space. Huge mistake on this one. There was standing water in the crawl space and even though he paid thousands of dollars to rectify the problem it didn’t matter the buyer’s walked. The repairs had to be done and documented then we had to disclose to a new buyer. He ended up coming down $5000 and paid at least $4000 in repairs. DON’T LET THIS HAPPEN TO YOU!

Finally let my team assist you in the process and we will get your home SOLD, SOLD, SOLD!