SNOHOMISH COUNTY REAL ESTATE MARKET TRENDS
Market Insights, Statistics, Graphs, And Infographs
INTENSITY REMAINS STRONG FOR NEW LISTINGS DESPITE THE COVID-19 CRISIS
THE HOUSING MARKET SNOHOMISH COUNTY Analysis For May 2020
COVID-19 has affected the market the last 2 months but not as much as we may have expected.
What we did see is 39% fewer listings go on the market this April compared to last April. However, the listings that did go on the market sold quickly.
Our commitment to our clients is that we will take every precaution to ensure your safety. We can all agree that buying and selling a house is a major decision in our lives, however it pales in comparison to our health and our families health.
We ask that you bare with us as we try to figure this out. Things are changing everyday and we are doing everything in our power to stay current and compliant.
We have had to modify the way we operate our services, meetings, and the way we interact with our clients and each other as real estate professionals.
Read About How We Are Navigating Business with COVID-19
Along with taking extra precautions we are focusing on delivering Virtual Real Estate Services.
A few things that really stuck out to me as I was compiling the May stats.Despite the Shelter-in-Place order Snohomish County remained in a EXTREME status with 65% of listings going pending in the 1st 30 daysClick To Tweet
- Despite the Shelter-in-Place order Snohomish County remained in a EXTREME status with 65% of listings going pending in the 1st 30 days
- The Average Sales Price remained at a high point of $527,988.
- 500 Fewer New Listings this April, 1,270, than last April, 1,770.
- 3% Higher percentage of homes pending than in April 2019
- 9 Fewer days on market than last month.
- We remain in a severe housing shortage.
What that story tells me is
Despite the COVID-19 Crisis buyers are still hungry for new listings.
With still amazingly low interest rates, and a low level inventory the last couple of years the Snohomish County real estate market should remain in the surge to frenzy status for the foreseeable future.
If you are selling the average sales price is at all time highs, and 65% of homes are selling in the first 30 days.
If you are buying the interest rates have never been lower and this is typically the time of year when more listings start coming on the market.
There are 3 important steps you should take to get ready to buy.
Position yourself to create a buyer advantage when competing with other buyers and walk in confidence when making an offer.
The Madrona Group can consult with you to be:
- Up-to-date with current market intensity and pricing
- Get pre-approved or fully underwritten through a lender,
- Receive email/text notification of newly listed properties
In today’s instant-response market, it’s key to ensure you’re ready to act when the timing is right.
QUICK MARKET UPDATE VIDEO
REAL ESTATE GUIDE
Learn more about Snohomish County and the opportunities to create your lifestyle.SNOHOMISH COUNTY REAL ESTATE GUIDE
INSTANT HOME VALUATION
Use this tool to get an instant estimation of the value of your home.ESTIMATED HOME VALUE
DREAM HOME SEARCH
Use our complete list of NWMLS search tools to find your Snohomish County Dream HomeSEARCH FOR HOMES
NEW LISTING ALERT
Use our NWMLS powered home search tool to receive an alert as soon as new listings hit the market.CREATE YOUR ALERT
HOW MUCH CAN YOU AFFORD
Use one of our 3 Mortgage Calculator tools to figure out how much home you can buy.MORTGAGE CALCULATORS
Need more information, curious what your home would sell for, or need help finding your next home.CONTACT JOE & JASON
INTENSITY REMAINS STRONG FOR NEW LISTINGS
In Snohomish County, we are seeing buyer demand coming forward. Yet given the historically low interest rates, the local market needs additional listings to meet pent-up demand from the back-log of buyers.
Due to the COVID-19 situation, there were fewer new listings in April vs April 2019, which leads to fewer homes going under contract as well. However, the sales activity intensity of homes selling within the first 30 days is aligned with last year’s high level for homes priced up to $750,000. in this range, sales activity intensity is Extreme (vs intense last year) and you still need to be Buyer Ready to get a home in today’s market!J Lennox Scott
Snohomish County Real Estate Data
SALES ACTIVITY AND INVENTORY
Average Percentage of new listings that go pending in the first 30 days
JOB AND POPULATION GROWTH
HOUSING MARKET SNOHOMISH COUNTY INFOGRAPHIC
The Snohomish County Housing Market Analysis INFOGRAPHIC
If you like our infographic or know someone that may like it please don’t hesitate to share it on your Pinterest, Facebook, Twitter, or Google+.
If you would like to download the image:
PAST MONTHS REPORTS
We put this list together every month. If you are interested in seeing past months you can access the archive below:
Snohomish County Market Stats
STATS BY INFOSPARKS:
- $527,988 was the average sold price for listings in the Snohomish County
- 1,270 new listings were added to the MLS for Snohomish County
- 1,676 homes were for sale in Snohomish County
- 1,065 home were in pending status
- 854 homes sold in the county
- 1 months of inventory available in Snohomish County
- 22 was the average days on market for a home to sell in the county
- 101% was the average listing price vs. sales price percentage
- $279 was the average price per square foot in Snohomish County
- $449,317,920 was the total closed sales volume for the county
- 3.19% was the average interest rate (source: Mortgage Daily News)
- 65% of homes sold in the first 30 days in Snohomish County
The Snohomish County Housing Market saw 1,273 new listings, 1,692 homes were for sale, while 861 homes sold in May in Seattle.
The average days on market decreased sharply to 22 days, the percentage of sale price to listing price increased slightly to 101%, and the average sales price stayed level. The percentage of homes that sold in the first 30 days is 66%. Showing that despite the crisis, with interest rates low, buyers are out there. We have seen the market go to an Extreme Surge status over the last month and the inventory to a severe shortage.
We should continue to see a surging to frenzy market for the foreseeable future.
Now seems to be an amazing time to sell your home as we are still seeing historically low inventory and high prices.
If you are considering a move up, a move down, or just want to sell your home… Months of inventory is still at well below average. Homes are selling at a rapid pace, the Interest Rates are still at below average lows.
The jury is still out on the job market and population growth.
For more information about the Snohomish County Communities including; Homes For Sale, Detailed School Information, Detailed Park Information, Livability Reports, Maps, Restaurants, Grocery Stores, Government Offices, Churches, and Things To Do.
Be sure to subscribe to our newsletter to get updated information about the Snohomish County.