End of Year Stats
End of year stats are here! Interestingly, we are seeing nearly identical supplies of inventory and days on market among both King and Snohomish counties.
Even though these inventory numbers appear to have jumped by a large percentage from one year ago, we are still not yet in a balanced market.
Homes that offer stellar presentation and are priced accurately are still moving quickly - sometimes even with multiple offers. I know the media consistently paints a gloomy picture, but that isn't always the truth! You can still sell your home in this market AND make a profit. And what's more? You can still buy a home AND have your contingencies in place!
Snohomish Market Snapshot
Snohomish County friends, let me paint you a picture...
Your housing inventory levels dropped in March to their lowest point yet! In February, they showed a .5-month supply, but are now down to a .3-month supply. This means it would take .3 of a month to sell EVERYTHING currently listed across all price points. When you think about how large the county is, this is mind boggling.
If you have a home to sell in the county, NOW is the time! These inventory levels along with the high demand are creating some of the craziest bidding wars I've seen in my 16 years of real estate. Thinking of selling? It's GO time...seriously!
In other news...
Days on market were sliced in half YOY
Median sales price increased by $100,538 YOY
If you've been on the fence about selling, let me be your guide to show you how much equity you may be sitting on. I think you'll be pretty happy with the results!
#snohomishcountyrealestate #remaxhustle #laureninthecity
#workhardbenice #forsaleinsnohomishcounty #snohomishcountyhousing
November 2020 Market Stats - Snohomish County
I know I sound like a broken record lately, but the inventory levels are just beyond low! For King County, the inventory was 17.8% lower this November than in November 2019. In Snohomish County, it was 63.3% lower this November than last. This accounts for both single family and condos combined. Wow and yikes! All this with no shortage of buyers in sight.
I've said it before and I'll say it again...if you have a home to sell in either county, we desperately need you! Contact me for a complimentary market analysis to see where your value lies and how we can help you capitalize on your equity in 2021!"
Prices have really jumped particularly in Pierce and Snohomish County. If you have been considering a move or are interested in tapping into your equity, I'd be happy to help with a complimentary market analysis for your property. Your home may be worth more than you think!
Average days on market down by 16 days from November 2019
Inventory is at a .4-month supply!
Median sales price up by $82,000 from November 2019 to $547,000
You may be asking what a .4-month supply of inventory really means. Well, I'm glad you asked. It means that it would take only .4 of a month to sell EVERYTHING currently available in ALL of Snohomish County. This includes single family, condos, and townhomes. Snohomish County encompasses a very large territory, so to be able to sell everything that fast means inventory is pretty non-existant! In 16 years of doing business, I don't think I've ever seen a level that low.