Snohomish County Statistics as of November 2016
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.
+17% November 2016 vs. November 2015
1111 available homes currently on market -800 vs. last month.
Up 1% November 2016 vs. November 2015
1528 units -88 vs. last month
+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%.
King County Median home prices are $523,000 + 16% over last year and up $6k from last month.
Woodinville area Median price is $550!!
September 20, 2016| Snohomish County Homes INC.
Snohomish County Statistics as of August 2016
Active Inventory: +13% Aug 2016 vs. Aug 2015
2009 available homes currently on market -46 vs. last month.
Pending Transactions: Up 14% Aug 2016 vs. Aug 2015
2071 units +94 vs. last month
Sold Transactions:+7% Aug 2016 vs. 2016
1748 units +75 than last month
Days on Market
Snohomish County Active to pending 26 days vs. 35 a year ago up 2 days from last month.
Median home price in Snohomish County is at a record high of $395,000!!! +9% last year. Down $3,000 from last month.
Area price % based on last Quarter
Bothell + 11%, Edmonds/Lynnwood +7%. Everett/Mukilteo +7%
Snohomish/Monroe+ 13%. Lake Stevens/Granite Falls +6%.
4 Beds, 3 Baths | 1,770 sq. ft. | Single-Family- Marysville
4 Beds, 3 Baths | 2004 sq ft. | Single-Family-Silver Firs
4 Beds, 2.5 Baths | 2,410 sq. ft. | Single-Family-Lake Stevens.
You will adore this home and its beautiful features! Kitchen has tons of counter space and plenty of cabinets to meet your cooking needs the kitchen island also provides additional prep space that you will be sure to love! You will absolutely love the fireplace in the open family room area, perfect on a chilly North West day. You will appreciate the easy floor plan of the upper level of the home where all bedrooms are located. HUGE fenced backyard is great for entertaining needs! WELCOME HOME!
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Real Estate News
In 2013, the housing markets with the biggest increases in asking prices were all rebounding from severe price drops in the housing bust. Home prices are still in rebound mode, but this effect will weaken in 2014. Job growth, in contrast, mattered little for price gains in 2013 but helped drive rent increases.
In December, the year-over-year increase in asking home prices slowed for the first time since the price recovery began in early 2012: prices rose 11.9% year-over-year in December, compared with November’s 12.2% year-over-year increase. Asking prices rose 0.4% month-over-month, seasonally adjusted, the third straight month of gains less than 1%.
Overall, regression analysis shows that recent price gains are most strongly associated with the severity of the local housing bust. Markets where prices fell most during the bust (roughly 2006 to 2011, but varies by metro) offered bargains for investors and other buyers who have helped bid prices back up over the past two years. A second important factor is foreclosures: adjusting for other factors, metros with a higher foreclosure inventory today – including many in Florida – have slower price growth. Job growth, however, had little impact on local home price gains in 2013: the relationship between job growth and price gains was positive but not statistically significant.
Therefore, year-over-year price gains in December 2013 are still primarily a reaction to the housing bust, but this rebound effect is fading as we enter 2014. Looking at the quarter-over-quarter price changes throughout 2013, the relationship between the severity of the housing bust and the recent price recovery was stronger earlier in the year than later in the year. More specifically, the correlation between peak-to-trough price change (FHFA) and the Trulia Price Monitor quarter-over-quarter change was -.59 in March; -.45 in June; -.43 in September; and -.33 in December. This correlation is moving closer to zero, which signifies that the rebound effect is fading. As the housing market continues to recover, factors other than the rebound effect – like job growth – will matter more for price gains. That means slower but more sustainable price increases.
Note: These asking prices are SA (Seasonally Adjusted) – and adjusted for the mix of homes – and this suggests further house price increases, but at a slower rate, over the next few months on a seasonally adjusted basis.
From Trulia chief economist Jed Kolko: The Post-Crash Rebound, Not Job Growth, Drove 2013 Price Gains
Please take a look at this great interactive PDF with a map and average home price appreciation info for the entire United States by clicking through to this link, you’ll find the US Map and much more state specific data in an interactive version.
We hope you find this information useful and never hesitate if you would like to see more or would like more information.
Considering selling your home by yourself?
Is it worth it?
Only the home owner can answer that question but experience has shown that many for-sale-by-owners find that it’s not. Before making a costly mistake plus an astronomical amount of time and wasted energy consider the benefits, from A to Z, you receive from working with a Real Estate Professional:
Advertising– We have proven marketing strategies to get you the best exposure and your agent should be rocking out the info on your home non-stop.
Bargain– research shows that 77% of sellers felt their commission was “well spent.” For the other 33% I say they should have gotten another agent. We must work for you to reach a common goal for all! Look I don’t get paid if I don’t do my job and sell your house period. So why would I not want to do my best?
Contract Writing– An agent can supply the standard forms that are written by lawyers to protect all parties in the transaction which in turn speeds things up. If you sell by yourself you need to hire a lawyer to draw up the docs. How much does that cost?
Details– There is millions of them trust me. An agent frees you from handling the many details of selling a home. Getting an offer is the easy part holding the transaction together after is where the details really count.
Experience and Expertise– In marketing, financing, negotiation and more. If your agent does not get another one!
Financial Know How– An agent is aware of the many options for financing a sale and can make sure you home qualifies for as many as possible to open up the buyer pool.
Glossary- A real estate professional understands, and can explain, real estate lingo
Homework- Agents are informed through research and experience, an agent will know your market and the areas they work in daily.
Information– If you have a real estate question and agent will know (or can get the answer)
Juggle showings– We agents handle all showings and the 10 phone calls of anxious buyers who want to be the first one to get in and see.
Keep your best Interests in mind– It’s our job! Selling you home is emotional and you need to trust your agent with information to help them help you.
Laws– A real Estate professional will be up-to-date in real estate laws that affect you.
Multiple Listing Service– Our number one tool to get your home out there to over 5,000 agents with potential buyers. Bringing you both together.
Negotiation– An agent can handles all price and contract negotiations.
Open Houses– A popular marketing technique that gives you exposure.
Prospects– Our network is huge and with reverse prospecting we know what other agents are looking for. In turn helping to produce potential buyers.
Qualified Buyers– You don’t need any looky-loos you need Pre-approved buyers period or if cash proof of funds. We make sure that is the case.
Realtor- An agent who is a member of the National Association of Realtors and subscribe to a strict code of ethics.
Suggested Price– An agent will do a market analysis to establish a fair price range. I also go a step further and visit other for sale properties in the area to for competition and how we can stand out from the crowd.
Time- How much time are you willing to put into selling on your own? Believe me it can be huge and its one of the most valuable resources that an agent can provide.
Unbiased Opinion– Most owners are too emotional about their home to be objective. Of course they are! They have lived there, raised their kids, remodeled and have many memories. Someone wanting to buy your home has none of that and honestly does not care. It’s what is in it for them and if it fits their needs. This is one of the hardest thing a home-owner needs to do is emotionally remove themselves from their home. Stand back and look at it from stranger’s eyes. Not an easy task!
VIP– That’s how you will be treated by your agent and if not get another one! No excuse… period.
Wisdom- A knowledgeable agent can offer the wisdom that comes with experience.
X Marks the spot– An agent is right there with you through the final signing of papers and can help you coordinate moving plus so many things you may have never thought about.
Zero-Hour Support– We are there to support you!
Earth Day is tomorrow April 22 and there are many things you can do that are great for the planet and are free or inexpensive for you. They will also help lower your energy bills, saving you money!
|Cut your shower each day by 2 minutes||Switch your light bulbs to CFL’s|
|Turn off the faucet while brushing your teeth||Purchase a programmable thermostat|
|Turn off lights when you are not in the room||Lower your heat at night and while away at work|
|Carpool or take the bus to work 1 day a week||Use reusable bags for grocery shopping|
|Recycle your food scraps in the yard waste (if available in your area) or start your own compost bin||When you can, try to shop and eat locally.|
|Pay all your bills online||Replace your shower head with one that is low flow|
|Unplug appliances (coffee maker, toaster, printer etc) when not in use.||When buying new appliances, make sure thy are energy efficient(not always low cost but it will save you money on your utility bills)|
|Rather than drive walk to dinner at your local restaurant (weather permitting of course)||Purchase products that use minimal packaging|
|Buy compostable trash bags for kitchen waste.|
|Buy biodegradable products (cups, napkins, plates, etc)|
This one is a bit of Beauty, Green tips and household all rolled into one. When you have fine particles and you need to strain them in a colander cut off a piece of old clean (of course) pantyhose (yes, pantyhose!) secure them over the bowl or cup to make a sieve, and flip it over to strain. I know it sounds weird but it works great!
Here’s one more nylon tip. If you run out of Swiffer pads use a pair of nylons! Preferably an old pair just cut them and put it over your swiffer pad. Works Great on the floors and really picks up the fuzz and dog hair! Or if you don’t have nylons around the house those chenille socks at the dollar store also work great!
This weekend is the National Open House Weekend on Saturday April 20th and Sunday April 21st we are going to see buyers out in full force and with recent inventory reported in Snohomish County as extremely low I am sure it will be a very busy weekend!
I personally will be representing one of my favorite builders at a couple of gorgeous homes in South Everett right on the Mill Creek Border so if you’re looking for your dream home it’s just been listed!
This builder is also currently building a small community in Bothell if you are looking in the Bothell area come and see the model homes in Silver Lake and get more information on both developments.