Snohomish County Statistics May 2019

May was not as hot as 2018 but with summer here we are starting to heat up a bit! I have started to see a bit more listings come on the market and price points under $450k were faster to move as buyers are starting to pick up the pace. Homes under $400,000 your chances of competing with multiple offers was much higher. It has certainly helped all price points that interest rates have leveled and even dropped a bit.

Active Inventory

We are up 1% May 2019 vs. May 2018

There were 2,426 available homes to come on the market +362 vs. April.

Pending Transactions

Down 5% May 2019 vs. May 2018

1962 units -109 vs. April

Sold Transactions

+0%!!! May 2019 vs. 2018

1660 units +223 than April

Days on Market

Snohomish County Active to pending 27 days vs. 18 a year ago. Down 8 days from last month. Homes prices over 450k seem to be taking up most of that time.

Median home price in Snohomish County 494,000 +0% last year. Down $1,000 from last month!

Area price and % based on last month (includes new construction)

Bothell-$670,500 down 8% from last month.

Edmonds/Lynnwood -4% to $525,000.

Everett/Mukilteo -3% to $452,000. Snohomish/Monroe +4% to $465,000

Lake Stevens/Granite Falls + 10% to $449,000

Marysville +6% to $410,000

King County Median home prices are $661,000 that is down 2% over last year and up $22k from last month. Woodinville area Median price is $764,000. Last year they were over 800k. Definitely a leveling in our east Snohomish/King County area.  Days on market 36 compared to 11 a year ago.

May19_MktSnapshot

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!!

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!