Snohomish County Home Prices for June 2012 [Video]

Snohomish County Homes Prices.  Learn where the market is  going, what is affecting Snohomish County Home Prices and why. Should you buy or sell your home? Anton will help explain these numbers!!

This is a class on WA Real Estate Statistics  where we dive into Snohomish County Real Estate Statistics and the market.  How the market is being affected by Bank Owned PropertiesShort Sales,  the Economy, etc.  and When did Snohomish County Real Estate Peak? Read on and watch the video to get the answer!

Snohomish County Graphs and Pictures Used for this Presentation:

 

Snohomish County WA Home Prices Video:

VIDEO TRANSCRIPT:

Hey, what’s going on everyone? Anton Stetner here with the Real Estate Solutions Group. Today we’re going to talk about Snohomish County home prices for June 2012, what’s been going on in the market, and like we’ve been saying, the market is hot, hot, hot. It’s popping right now.

The questions that keeps coming up are price stabilization. Are we starting to achieve price stabilization? Has the market bottomed? Are we going to start to see some appreciation?

Price stabilization is happening in certain areas of Snohomish County. Has the market bottomed? It really feels like the market has bottomed right now. Only time will tell. That’s the unfortunate thing about statistics. Is it a bottom? Is it a flatness? Is it going to go further?

Are we going to start to see appreciation? Well, we are seeing some mild appreciation, and we’ll check out to see where it goes. The market is moving fast.

Right now we got 2.3 months’ worth of inventory. That is less inventory than we had throughout a lot of 2005, so even though sales aren’t the same level. In other words, the total number of sales is not on the same level we were having in 2005. We’re having the same velocity. Things are happening. You are seeing multiple offers coming up on lots of things, and that’s because of just the plain lack of inventory. If you’re a buyer out there, or you’re a seller out there and you’re under $400,000 or $500,000, you will most likely be competing if the product is priced correctly.

For Snohomish County year-to-date, when we compare June all the way through 2012 to 2011, we’re still down 0.6%. The median price however is up 2%. When we compare June of ’12 versus June of ’11, we’re up 5.7%. So once again, showing stabilization. Not showing any appreciation yet in the average price, but showing some in the median price.

Lynnwood and Everett are both up in the median and the average price year- to-date. Very good signs for those two areas. However, Bothell, Lake Stevens, Marysville, and Snohomish are all still down both in the average price and the median price year-to-date. In other words, the stabilization hasn’t quite reached these areas, which isn’t showing up in the overall county.

We already alluded to what we’re talking about here, but under $400,000, in the last 30 days half of those properties sold. If you’re a buyer that’s under $400,000, I mean, and that is definitely above our median price here, you’re going to be in a multiple offer situation if the product is priced correctly.

What we’re seeing is things will go on the market and they’ll be selling in a matter of days and will get multiple offers. So figure out how are you going to compete. We’ve got some other videos that relate to that, and what you’re going to do if you’re a seller, hey, it’s your lucky day. Right now you’re going to get the most value possible that we’ve been seeing in a long time because lack of inventory and people are competing.

That’s us. Hey, subscribe above. Comment below. We will update you more as we go. Thank you.

 

Feel free to leave any comments or questions! 🙂

 

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