Snohomish County Real Estate Market for September 2012

Snohomish County Real Estate Market for September 2012


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 September 2012. 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 up here. 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. 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 above, comment below, and we’ll update you
more as we go. Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *