Snohomish County Home Prices for July 2012 [Video]

The market has bottomed, we are in a sellers market, inventory is and bidding wars are happening again. Here is the information about the stats and trends for exactly what is happening with Snohomish County Home Prices in Washington State.  Find out more by watching this video.

Snohomish County Home Prices for July 2012 Video:

Video Transcript:

Hey, what’s going on everyone? Anton Stetner here with the Real Estate
Solutions Group. We are going to talk to you today about Snohomish County
real estate home prices, values, all of that jazz.

The market has bottomed. Yes, it’s official. We have reached the bottom.
Remember how for the last few months we’ve been talking about this isn’t
quite the bottom, it’s looking like it’s the bottom? Well, finally we’ve
actually got some prices where we’re looking at like on a year-to-date
level. So, remember we’ve got to look at the trend over a period of time,
where our average is now showing up 0.9% and the median is showing up 3.9%.
And that’s the year-to-date numbers. When we look at July versus July, the
average price is up 8.1%, and the median price is up 11.9%, with sales this
year up almost 18% at 17.7%.

We’re still in a hard core seller’s market. We’re at 2.3 months. One of the
things that’s really happening, too, I encourage all of you real estate
agents who watch this to pay attention to this is that when you log into
the NWMLS, every day, every time we see it, the number of pendings leaving
the market is still higher than the actives coming in. In other words, the
market will continue to be tight, tight, tight until that changes.

Why is that happening? I get that question a lot. The reason that it’s
really happening right now is all these foreclosures got slowed down. So
we’re seeing a very artificial seller’s market, but we do expect it to
continue for the foreseeable future.

What areas of the county are actually still down? The city of Snohomish,
the city of Bothell, good old Marysville, these areas are still showing
down in their year-to-date pricing. The ones that are showing positive and
up would be Lynnwood, excuse me, Lake Stevens. Lynnwood would be the word
right next to that, Lynnwood and Everett. The other very interesting thing
and this is one of the reasons the market is moving so fast is, one, we’re
getting into the stuff that’s affordable.

Over half of the inventory below $400,000 turned over in the last 30 days.
I’m saying over half of it sold. The interesting thing, too, is in some of
that lower priced brackets, and I’m talking $150,000, $200,000, you’re
seeing even more, higher numbers of the inventory turn over.

Be prepared to make multiple offers if you are going to buy a home. We have
a video that’s also on our YouTube channel that’s saying 13 ways to win
multiple offer strategies. I recommend taking a look at that.

Taking a two year look at what’s going on right now, the number of for sale
properties is down 42.9%. The number of under contracts is up by 108.2%.
That’s a huge increase in the number of under contracts while sales over a
two year period are up 60.8%.

I’m Anton Stetner with the Real Estate Solutions Group. Please subscribe
above, comment below. Ask us about the value of your home, and we’ll update
you as we go.