Snohomish County Stats March 31, 2017

Snohomish County Home

Active Inventory

Prices are up 7% over last year March 2016 vs. March 2017. What is more unbelievable there up $4000 from last month!  1788 brand new listings in March up 459 from February however from last year down -5%.

Pending Transactions

Down -12% March 2017 vs. March 2016. Why? No inventory buyers are finding it difficult to find homes.

1933 units went pending last month +343 from February.

Sold Transactions

+4% March 2017 vs. March 2016.

1420 units +330 more than last month

Days on Market

Snohomish County Active to pending 35 days vs. 45 a year ago. Incredible!

Median home price in Snohomish County $415,000 +7% last year. Increase of $4000 from last month. An all-time high!

Median home price in King County $560,000 +11% from last year. Days on market 39.

Median home price in Woodinville $612,000, Days on market 20. This is an incredible $52,000 from last month!

Months of inventory

If no additional homes would be put on the market, there would be no inventory left after approximately 3 weeks. We are sitting at .78 month inventory. This is also a all time record in Snohomish County. In King County that figure is .6 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 +13%. Everett/Mukilteo +10%

Snohomish/Monroe + 11%. Lake Stevens/Granite Falls/Arlington/Darrington +20 %. Marysville 17%. Incredible rising percentages! New Construction is included.

April 2017 Market Characteristics:

  • Sellers: position your home to get premium pricing and if you have been on the fence on selling now is historically the best time.
  • Buyers: need to be Buyer-Ready, Day-One™ to get a home in today’s market. This means fully approved for a loan. If you’re not there is no sense looking the home you liked will be gone before you can get a preapproval.
  • The market continues to be more intense than during the same time in year 2016.
  • 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.
  • 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 seem to come down just a bit and are hovering right around 4% for a 30 year fixed.
  • Multiple offer everything. If you’re a buyer you must have patience.
  • More new listings come on market from March through October than November through February.

 

Active to Sold!

re4-15-k-102-f98-soldSHOWING INSTRUCTIONS– If you are serious about selling, the easier you make it for potential purchasers to see your home, the higher your chances are of receiving an offer. Showing restrictions result in fewer showings which could result in additional days on the market.

 

APPEARANCE
First impressions count, especially when it comes to a house that is listed. If staging is not an option, removing personal photos and clutter should be top on the priority list, next to touching up the paint. Turn lights on the give your home a welcome feeling prior to showings.

ASKING PRICE
Every House must be sold twice: to the buyer and to the bank if a mortgage is involved. To get a home sold the price has to be right! Trust your licensed Real Estate broker to study the market in your area and show you the comparable sales when they present their professional price recommendation. The first few days on the market is when your listing has the utmost impact to capture potential buyers.  To increase your curb appeal check out these practical tips for creating eye-catching curb appeal without spending a fortune:

Power-washing a cement driveway and remove oil, rust and other stains.
Clear the pathway to your front door by cutting back overgrown landscaping.
Check for cobwebs and wipe down your front door and kick plate. Consider painting or staining your door if it looks faded/worn. 
Now is a good time to refresh and prune planted pots to make sure they are blooming with color with what season it is. 
A new layer of mulch will immediately improve the look of your yard.
Make your fence pop! A semi-transparent stain evens out signs of repairs and covers discoloration. Don’t forget your deck, steps, rails, shed, ect.
Add some path lighting to highlight the best plants in your yard.
Crystal clear windows are a strong indicator that the house has been well cared for.

Most of all hire me as your Realtor to make the transaction go fast and smooth!