A Tale Of Two MarkeTs
What is going on with our Snohomish County Housing market? Our monthly market report makes sure you stay up to date!
In October 2019, we see an interesting phenomenon: The development of two different markets…
Which market are you in?
When is the right time to buy and sell and how can you target the market just right?
Let’s take a quick look at the current data for Snohomish County for houses under $425,000:
Average home price is up 1.4%
The average days on the market decreased to 24 days
The months inventory supply is at 0.9 months
The number of homes (inventory level) for sale decreased by 6%
What it means for
The numbers above are the statistics for houses under $425k. The numbers for houses priced above $550k are a way different story… Here, the days on market are 39, we see an increase of 32 percent and a 2.6 month supply. Houses in this price range take longer to sell. More than ever it’s important to price right the first time!
Your marketing matters if you are a seller. Know what to expect!
What it means for
Low interest rates increase your purchase power. You now can get a $440,000 house for the same monthly price as a $400,000 eight months ago!
With under a month supply houses are selling fast. Make sure you are fully pre-approved or even underwritten to submit a strong offer!
Should you wait for prices to go down? Not before you had a look at the big picture. Check out our blog article about the current real estate market development!
The real estate market is Shifting
If you are thinking about selling, give us a call. And if you are a buyer, you have to get your foot into the door, as the market is shifting - but we still see multiple offers. Contact us right away, get pre-approved and don’t wait for the weekend to start the search for your dream home!
Plus: Interest rates are LOW! Even if you are not buying and selling, you can save several hundred dollars a month doing a refinance.