Snohomish County WA Real Estate and homes for sale. Don't believe the media hype!
We have all been seeing stories in the media about how slow the housing market has become, how the housing prices are dropping, and what a buyer's market it is.
However, in our part of the country, most of this is not true. The fact remains that while there are more homes on the market and they are taking slightly longer to sell, the market is not nearly as bad as the media would like you to believe.
I personally believe what we are seeing is a NORMAL market for Snohomish County real estate. Snohomish County area homes for sale aren't being snatched up in the first few days and they are not selling for more than the list price.
I think many people (including the media) thought that our past HOT market in Snohomish County was normal.
,As the following numbers will show.
Area Market Statistics
Snohomish County homes sold in Aug 2007: 965
Average Market time: 66 days
Average Sale price: $422,035
Snohomish County homes sold in Aug 2006: 1374
Average market time: 45 days
Average Sale price: $398,079
Number of available Snohomish County homes for sale now: 5576
That equals a 5.78 months supply of inventory.
With an increase of over 6% in Average sale prices for the past year.
Most agents believe that an inventory of less than 3 months is considered a sellers market,
Inventory of 3 to 6 months is considered neutral, and inventory over 6 months is considered a buyers market.
While we are near the 6 month inventory range, prices are still climbing. There are some areas in the country where the inventory is nearly 12 months.
We would like to also let you know that we have seen in increase in buyer activity over the past few weeks as more buyers are beginning to search for homes.
For information on the real estate market and homes for sale in sprcific areas of Snohomish County County, including Everett, Marysville, Snohomish, Monroe, Lake Stevens, Granite Falls, Arlington, and Stanwood
Please visit our website at www.barbsbestbuys.com. If you would like to recieve information on other areas in northwest Washington, please send us an email and we would be happy to check the statistics in your area.
If you are considering buying or selling a home in Snohomish County or other nearby areas please give us a call.