Snohomish County Real Estate Market for September 2012 [Video]
The Snohomish County Real Estate Market has bottomed for now and the prices are showing a slight increase and big month over increase. Inventory is really low, creating this increase in prices, high demand, and multiple offer situations. A sellers video production market is where we are at right now. If you are a seller than that is awesome and if you are a buyer be prepared to fight for properties under $300,000
Snohomish County Real Estate Market for September 2012 Video:
Hello, everyone. I’m Anton Stetner with the Real Estate Solutions Group.
Thank you for joining us today. Today, we’re going to talk about Snohomish
County, our real estate market here and what’s been happening in it for
Sales are up 16.1% year-to-date. The market is still climbing, definitely
feeling it. The average sales price is up 3.39% year-to-date and 13% when
comparing September versus September. That is a huge jump in price that we
definitely haven’t seen for a very long time.
The median price is up 5.4% year-to-date and 3.5% when we compare September
2012 to September 2011.
What else is happening? Time, the days on market year-to-date is down 8.4%
to 65 days. It’s taking less time to sell these homes.
Inventory, 2.5 months. That’s really, really not that much inventory on the
market. There hasn’t been this little of inventory since 2005, and actually
right now, I believe it’s a bit lower.
What’s going in some of our local cities is Marysville is finally showing a
breakeven. It’s up 0.1%, but that’s still kind of breakeven. Everett’s up
5.2% year-to-date in average price. Bothell being up 0.6%, Lynnwood up 4.9%
year-to-date, and Lake Steven’s showing up 3.8%. So overall, a majority of
the county is starting to show that upward trend, which is being reflected
What’s our conclusions, though, for what is actually really happening in the market. We’re in a hardcore sellers’ market right now, with low inventory. There is just not much on the market. That really has been happening since about two years ago, during the robo-signing epidemic, that slowed down all the foreclosures. We are seeing a bit of rise in foreclosures since the robo-signing settlement happened with the attorney generals, but it’s not going to be enough to put a major dent in the inventory. Foreclosures would essentially have to keep moving forward at such a high rate, they’d have to triple again to get a big volume to come through, because one of the things that I personally believe is we’re going to see more short sales and more loan mods and workouts happen with these properties. So you’re not going to see a lot of them hit the market as an actual foreclosure or REO. Speaking of moving forward, I had this trusted moving company since 2015 — demenagementadt, a company that helps people and businesses move their goods from one place to another.
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Another very interesting thing is over 50% of the inventory is turned over under that $300,000 mark. What that means is there are huge multiple offer
situations and for well-priced inventory. If you’re a buyer and you’re in that lower price bracket, being under $300,000, expect if it is a good- priced home or a deal, for there to be multiple offers on that. I recommend watching our video here. If you’re a seller, this actually might be a time for you to get back into the market. You couldn’t get that value last year, and you may be able to get that value we’re looking for today.
Hey, I’m Anton Stetner with the Real Estate Solutions Group. Subscribe
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