The Gardner Report – Q2 2020 Western Washington

 

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.


 

REGIONAL ECONOMIC OVERVIEW

It appears as if the massive COVID-19 induced contraction in employment that Washington State — along with the rest of the nation — experienced this spring is behind us (at least for now). Statewide employment started to drop in March, but April was the real shock: total employment dropped almost 460,000 between March and April, a decline of 13.1%. However, this turned around remarkably quickly, with a solid increase of 52,500 jobs in May. Worthy of note is that, in May alone, Western Washington recovered 43,500 of the 320,000 jobs that were lost in the region the prior month. Although it is certainly too early to categorically state that we are out of the woods, the direction is positive and, assuming we respect the state’s mandates regarding social distancing and mask wearing, I remain hopeful that Washington will not have to re-enter any form of lockdown.

 

HOME SALES

  • There were 17,465 home sales during the second quarter of 2020, representing a drop of 22.2% from the same period in 2019, but 30.6% higher than in the first quarter of this year.
  • The number of homes for sale was 37% lower than a year ago, but was up 32% compared to the first quarter of the year.
  • Given COVID-19’s impacts, it’s not surprising that sales declined across the board. The greatest drops were in Whatcom and King counties. The smallest declines were in Grays Harbor and Cowlitz counties.
  • Pending sales — a good gauge of future closings — rose 35.7% compared to the first quarter of the year, suggesting that third quarter closings will grow as well.

 

 

 

HOME PRICES

 

  • Home-price growth in Western Washington rose by a relatively modest 3.5% compared to a year ago. The average sale price in the second quarter was $559,194.
  • Compared to the same period a year ago, price growth was strongest in Grays Harbor County, where home prices were up 14.3%. Clallam County also saw a double-digit price increase.
  • It was interesting to note that prices were up a significant 6.6% compared to the first quarter. This suggests that any concern regarding negative impacts to home values as a function of ​    COVID-19 may be overblown.
  • I will be watching for significant price growth in less urbanized areas going forward. If there is, it may be an indication that      COVID-19 is affecting where buyers are choosing to live.

 

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home in the second quarter of this year matched the second quarter of 2019.
  • Across the entire region, it took an average of 40 days to sell a home in the second quarter. I would also note that it took an average of 14 fewer days to sell a home than in the first quarter of this year.
  • Thurston, King, Pierce, and Snohomish counties were the tightest markets in Western Washington, with homes taking an average of only 17 days to sell. All but two counties, Grays Harbor and Cowlitz, saw the length of time it took to sell a home drop compared to the same period a year ago.
  • Market time remains well below the long-term average across the region. This is due to significant increases in demand along with the remarkably low level of inventory available.

 

 

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

What a difference a quarter makes! Given that demand has reappeared remarkably quickly and interest rates remain historically low, it certainly remains a seller’s market and I don’t expect this to change in the foreseeable future.

The overall housing market has exhibited remarkable resilience and housing demand has rebounded faster than most would have expected. I anticipate demand to remain robust, but this will cause affordability issues to remain as long as the new construction housing market remains muted.

 

ABOUT MATTHEW GARDNER

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

 


This post originally appeared on the Windermere.com Blog


Posted on July 25, 2020 at 12:30 am
Karen Prins | Posted in Local Market Update, Local Real Estate News, The Gardner Report | Tagged , , , , , , ,

Local Market Update – July 2020

While our lives are very different than they were a year ago, the local real estate market has recovered to 2019 levels. Record low interest rates are helping spur demand. Sales were up, home prices increased and multiple offers were common.

  • The number of pending sales, a measure of current demand, was higher in June than for the same period a year ago.
  • The supply of homes on the market remains very low, with just a month of available inventory. When inventory is this low, quick sales over full price are common. That was the case in June when about 40% of homes sold for more than the asking price.
  • Home prices in King County rose 4% over a year ago. Snohomish County home prices increased 5%.
  • More sellers put their homes on the market. While total inventory remains low, the number of new listings in June was similar to the same time last year.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for June are mostly reflective of sales in May. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on July 14, 2020 at 12:02 am
Karen Prins | Posted in Local Market Update, Local Real Estate News | Tagged , , , , , , , , , ,

Local Market Update – June 2020

 

As we move to the next phase of reopening, life feels like it’s slowly inching back towards normal. The same is true in real estate. Statistics on home sales in May provided the first true picture of the effects of COVID-19. Those reports confirmed the incredible strength and stability of the local real estate market.

  • The Stay Home order, as expected, continued to impact the number of sales. However, the market is starting to move its way towards more normal activity. Pending sales, a measure of current demand, have risen every week since April.
  • The slight drop in median closed sale price is a result of a proportionately larger number of lower priced homes selling than is normal. It should not be interpreted as a decrease in individual home value.
  • There were significantly fewer homes for sale in May than the same time last year. With less than a month of available inventory, competition among buyers was intense. Bidding wars and all-cash offers were common.

The monthly statistics below are based on closed sales. Since closing generally takes 30 days, the statistics for May are mostly reflective of sales in April. If you are interested in more information, every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here. As we adapt to new phases of reopening, know that the safety of everyone remains our top priority.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on June 11, 2020 at 11:23 pm
Karen Prins | Posted in Local Market Update, Local Real Estate News | Tagged , , , , , , , , , , , , , ,

Windermere Insights: How COVID-19 is Really Impacting Local Real Estate

 

The challenges presented by COVID-19 have been felt locally by every home buyer, seller and real estate broker. Residential real estate, which was moving at breakneck speed through February, came to a screeching halt for two weeks in March after the initial Stay Home order was implemented.

As soon as Governor Inslee declared real estate an essential business, the engines started to rev again. Despite job losses and a nosedive in general consumer confidence and spending, home buyers started to jump back into the market. Theories abound about why this could happen in the middle of a pandemic:

  • With some exceptions, our local tech sector has generally performed well during COVID-19 and its employees may feel reasonably insulated from the worst of the economic fallout. For some, their stock options may have actually increased in value during the worst of the coronavirus.
  • Many buyers were already feeling the squeeze of low housing inventory and the defeat of losing out in multiple-offer situations. Some likely saw the lower competition during the shutdown as an opportunity to finally gain a foothold.
  • Mortgage rates in the early stages of the shutdown dropped to historic lows, with some 30-year fixed loans carrying percentage rates in the low threes.
  • Renters and homeowners with sustained income security found themselves suddenly doing everything from home – working, schooling, exercising – which may have motivated them to pursue a change in space, moving from dreamers to active buyers.
  • Lots of real estate “window shoppers” suddenly had a lot more time on their hands and spent hours perusing eye-candy listings online and watching more HGTV than ever, accelerating their property lust and their entry into the buyer pool.

Some of these theories have metrics behind them and some remain just theories. Regardless of the motivation, buyers are back “out” in force, touring prospective homes online, via livestream video with a broker or pre-produced 3D tours and videos. Brokers are showing them homes in person too – while following many safety precautions. Because of this strong buyer interest, prospective sellers are hearing from their brokers that now may be a good time to list.

For weeks now, we have seen multiple offers on homes in popular neighborhoods. Brokers, for whom business was put on hold at the end of March, are as busy as at any other point this year. Though the new normal is still not completely normal, the market in many neighborhoods and price points seems to be skipping along as if it were.

To learn how various sectors of our local real estate market are performing during COVID-19, we asked Windermere experts from Seattle and the Eastside what they are seeing.

Real Estate Across Seattle

Laura Smith, co-owner and principal broker of Windermere Real Estate Co., which operates multiple real estate offices in Seattle, has been busy helping brokers ramp up quickly and navigate a hefty transaction load along with new protocols for listing and showing homes. “It’s been a total whirlwind,” she said. “The market went from zero to sixty in a heartbeat.”

Smith explained that out of nine MLS areas in the city of Seattle, seven had less housing stock (measured as months of inventory) than what was available in May 2019, and the other two areas had the same inventory levels as last year. She noted that Seattle’s pending home sales during Week 3 of May already had reached 95% of the transaction count from the same week in 2019.

“Right now buyers want in,” Smith said, “and inventory numbers favor sellers.” Prices, as a result, have “stayed strong,” according to Smith, even in the midst of a health-related shutdown.

Bouncing Back on the Eastside

According to Matt Deasy, President of Windermere Real Estate / East, Inc., the volume of business has bounced back quicker than expected and brokers are busy helping buyers and sellers while following new practices to prevent the spread of the coronavirus.

“After reentering the market, buyers are finding the competition as fierce as it was before COVID-19,” Deasy said. His analysis shows that while Eastside pending sales are still down from a year ago, by Week 2 of May they were at 73% of last year’s figure from the same week. “Each week we are seeing the market steadily catch up to last year,” Deasy observed, “and I think it will soon head north of 2019 weekly transaction yields.”

Deasy pointed out that low Eastside housing supply is a challenge for buyers rushing back in to the market. “There is so little for sale” he said, noting that of the Eastside’s eight MLS areas, all but one had extremely low levels of inventory. “In fact,” Deasy continued, “three Eastside areas have a month or less supply of homes.” As a result, he predicts that “prices in popular neighborhoods will continue to climb” for the foreseeable future.

The Luxury Market

Patrick Chinn, owner of Windermere Real Estate Midtown, regularly works with luxury brokers and their clients. He observed that the luxury market was proceeding at a seasonally appropriate pace prior to the shutdown but has appeared a little slower to come back online as restrictions on real estate lifted. “Luxury sellers are typically not in a rush,” Chinn noted, “and the safety considerations of listing a home during COVID-19 may have delayed” their entry into the market.

Due to their high net worth, luxury buyers on the other hand may have been “less adversely impacted by the very real economic impacts of the shutdown,” Chinn said. But he also observed that fluctuations in the stock market usually make for “a restless luxury market, despite greater potential access to capital.” Chinn expects the pace of new high-end transactions and inventory to remain below what it was pre-shutdown, at least until there’s a clearer economic picture in sight.

Chinn did note that if a singular property is listed during an economic downturn such as the one we now find ourselves in, there can still be great urgency by luxury buyers to purchase. He gave as an example a Medina property listed during the topsy-turvy days just before the shutdown that quickly went under contract at its asking price of $11.75 million. “Iconic homes on iconic streets will still generate lots of enthusiasm, even during a downturn,” Chinn said.

He reported that one of his brokers went full speed ahead to list a one-of-a-kind beachfront property in Magnolia. Even during the lingering impacts of COVID-19, “there’s no time like the present for listing incredible homes,” Chinn explained.

Continuing New Construction

Joe Deasy, co-owner of Windermere Real Estate / East Inc., says that the early phase of the shutdown created significant waves for residential builders. Initially both the building and listing/showing of all residential new construction projects were stopped due to the Stay Home order.

As builders start building again and brokers start showing finished units, “the early pace will naturally be a bit slower,” Deasy said. He explained this as a result of builders needing to rehire furloughed workers and buyers’ agents implementing safety measures to prevent the spread of the coronavirus.

“I expect things to accelerate pretty quickly as we move forward,” Deasy predicted. His reason? “There’s so little inventory out there, both new construction and resale,” he explained. “The product that is available looks pretty attractive right now, since it’s brand new and no one’s ever lived in it.”

Deasy remains positive about the region’s new construction market. He pointed out that leading into the Stay Home closure, Windermere’s King County new construction business was through the proverbial roof. “Even factoring in the shutdown, our year-to-date unit sales are up 41% over last year,” he noted, “and our sales volume is already at $700 million.”

Looking ahead, Deasy predicts that demand for new construction homes will remain strong and that supply will have the biggest impact on the sector’s overall market performance. “Low inventory may influence 2020 sales more than the shutdown,” he explained, “which, all things considered, was relatively brief.”

 

This post originally appeared on GettheWReport.com


Posted on May 29, 2020 at 12:06 am
Karen Prins | Posted in Local Market Update, Local Real Estate News | Tagged , , , , , , , , , ,

Local Market Update – April 2020

 

Windermere is focused on keeping our clients and our community safe and connected. We’re all in this together. Since the early days of COVID-19, our philosophy has been “Go slow and do no harm.” While real estate has been deemed an “essential” business, we have adopted guidelines that prioritize everyone’s safety and wellness.

Like everything else in our world, real estate is not business as usual. While market statistics certainly aren’t our focus at this time, we’ve opted to include our usual monthly report for those who may be interested. A few key points:

  • The monthly statistics are based on closed sales. Since closing generally takes 30 days, the statistics for March are mostly reflective of contracts signed in February, a time period largely untouched by COVID-19. The market is different today.
  • We expect that inventory and sales will decline in April and May as a result of the governor’s Stay Home order.
  • Despite the effects of COVID-19, the market in March was hot through mid-month. It remains to be seen if that indicates the strong market will return once the Stay Home order is lifted, or if economic changes will soften demand.

Every Monday Windermere Chief Economist Matthew Gardner provides an update regarding the impact of COVID-19 on the US economy and housing market. You can get Matthew’s latest update here.

Stay healthy and be safe. We’ll get through this together.

EASTSIDE

VIEW FULL EASTSIDE REPORT

KING COUNTY

VIEW FULL KING COUNTY REPORT

SEATTLE

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on April 14, 2020 at 10:52 pm
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , , , , , , ,

Local Market Update – March 2020

The novel coronavirus (COVID-19) has not yet dampened demand in the housing market. Traffic at open houses remains heavy. Buyers who had waited last year for a drop in prices have now seen several months of home prices increases. With demand far outstripping supply and record low interest rates, the market heading into spring looks hotter than ever.

EASTSIDE

Buyers that may have been in wait-and-see mode at the end of 2019 jumped off the fence in February. Pending sales (offers accepted but not yet closed) jumped 27%, snapping up already-tight inventory. 55% of homes on the market sold in 15 days or less. The median home price jumped 9% over a year ago to $985,000, an increase of $58,000 from the prior month. Development on the Eastside continues to surge and includes the recent groundbreaking for a 600-foot tower in Bellevue and a proposed 11-acre mixed-use project.

VIEW FULL EASTSIDE REPORT

KING COUNTY

The tight housing market here got even tighter. There were 40% fewer homes on the market in King County in February than there were in January. The median home price rose 3% over the prior year to $675,000, up from $630,525 in January. With mortgage rates and the local unemployment rate both hitting record lows, demand isn’t likely to drop any time soon.

VIEW FULL KING COUNTY REPORT

SEATTLE

With just six weeks of available inventory, competition for homes in Seattle remains fierce. Multiple offers were the norm, and 34% of homes purchased in February sold for over the listing price. The median price for a single-family home in February was $730,500, unchanged from a year ago and up from $719,950 in January.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

The numbers in Snohomish County tell the story. There were 42% fewer listings in February than a year ago, and 42% more pending sales. With inventory at under a month of supply, there just aren’t enough homes to meet demand. That scarcity translated into higher prices, with the median price of a single-family home rising 8% over a year ago to $515,000.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on March 12, 2020 at 10:48 pm
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , ,

Local Market Update – February 2020

New jobs and low interest rates continue to fuel the housing market boom. While January is traditionally a slower month for activity, the new year saw steady buyer demand. With the number of sales exceeding new listings, all indicators point to a strong spring market.

EASTSIDE

The tech industry on the Eastside continues to grow rapidly. Microsoft and Alibaba both have significant expansions underway. Amazon expects to increase its workforce in Bellevue to 15,000 in the next few years, a sevenfold increase from today. As the economy continues to grow, inventory keeps being squeezed. There were 47% fewer single-family homes on the market in January than the year prior. Home prices have been stabilizing for some time, fluctuating slightly from month to month. In January the median home price slipped 2% over a year ago to $892,000.

VIEW FULL EASTSIDE REPORT

KING COUNTY

The number of single-family homes on the market in King County was down nearly 44% from a year ago. That lack of inventory has resulted in more multiple offers and the return of review dates, where sellers identify a date to review all offers. Strong competition for a small supply of homes boosted the median home price 3% over the prior year to $630,525.

VIEW FULL KING COUNTY REPORT

SEATTLE

The jobs outlook in Seattle for 2020 remains robust, and demand for homes continues to outstrip supply. Traffic at open houses in January reflected that demand, with one central Seattle homes priced in the $1.2 million range drawing more than 300 visitors. Home prices in the city have been relatively stable for the past 12 months. That remained the case in January where the median price for a single-family home inched up 1% over last year to $719,950.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

With 35% less inventory than last January, competition among buyers in Snohomish County is fierce and multiple offers have become the norm. The median price of a single-family home soared 12% over a year ago to $509,950. Home prices have been playing catch up, increasing at a much faster pace over the past year than King County. While the prices gap has closed, the median price here is still nearly 20% less than King County.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on February 17, 2020 at 10:51 pm
Karen Prins | Posted in Local Market Update | Tagged , , , , , , ,

Local Market Update – January 2020

2019 ended with too many buyers chasing too few homes. December marked the sixth straight month of declining supply. The severe shortage of homes, historically low interest rates, and strong job growth are predicted to keep the local housing market strong in 2020. In a region starved for inventory, sellers can expect significant interest in new listings.

EASTSIDE

Homes sold briskly on the Eastside in December in all categories, including the luxury market. The number of listings were down nearly 50% from a year ago and the area had under a month of available inventory. That lack of inventory helped bump the median price of a single-family home up 4% from a year ago to $949,000, which is a $49,000 increase from November.  New large scale developments and a strong economic forecast indicate that the housing market will remain healthy.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County continues to be a seller’s market. Inventory in December was down nearly 40% compared to a year ago and ended the month with below one month supply. The median price of a single-family home rose 6% over the prior year to $675,000, up slightly from November. More affordable areas saw much higher increases. Southeast King County – which includes Auburn, Kent and Renton – saw home prices jump 16% over the previous year.

VIEW FULL KING COUNTY REPORT

SEATTLE

Numbers tell the story in Seattle. Inventory was down 25%, while the number of closed sales increased 19%. Strong demand here has kept the housing market solid, with prices fluctuating slightly month-to-month for much of 2019. The median price of a single-family home sold in December increased 2% from a year ago to $727,000. That was slightly down from $735,000 in November.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

While the median home price in Snohomish County is less than that in King County, the gap continues to close. Buyers willing to trade a longer commute for a lower mortgage have kept demand and prices strong. Inventory here was off 36% in December as compared to a year ago. The median price of a single-family home rose 9% over a year ago to $510,000, an increase of $15,000 from November.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on January 15, 2020 at 7:27 am
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , , , , , , ,

Local Market Update – December 2019

Favorable interest rates and soaring rents boosted activity in the housing market in November. More buyers competing for less inventory kept home prices strong. With the supply of homes far short of demand, sellers can expect well-priced properties to sell quickly this winter.

EASTSIDE

With just over a month of available inventory, demand on Eastside remains very strong. Sales are brisk, with 45% of single-family homes selling in 15 days or less and 20% of homes selling for over list price. The median single-family home price in November rose 2% from a year ago to $900,000 and was unchanged from October.

VIEW FULL EASTSIDE REPORT

KING COUNTY

With more buyers vying for fewer homes, King County remains a solid seller’s market. While inventory traditionally shrinks in the winter, this November saw the number of new listings at historic lows. Demand was strong, with the number of closed sales up 12% over the same time last year. The median home price ticked up 3% over the prior year to $661,000 and was unchanged from October. The strong market sent prices higher in the more affordable price ranges, with some areas in South King County seeing double-digit increases.

VIEW FULL KING COUNTY REPORT

SEATTLE

Activity in Seattle was very strong in November. The number of closed sales was up 29% over the same time last year. With just over one month of homes available for sale, the city is starved for inventory. Seattle homes prices have ebbed and flowed slightly from month to month for much of this year. The median price of a single-family home sold in November was off 3% from a year ago to $735,000.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

With an increasing number of buyers driving to affordability, the Snohomish County housing market remains robust. Inventory is very tight and continues to fall. The county finished November with just over one month of supply. The median price of a single-family home rose 5% over a year ago to $495,000. That figure is unchanged from October.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on December 17, 2019 at 8:20 am
Karen Prins | Posted in Buying a Home, Local Market Update, Selling a Home | Tagged , , , , , , ,

Local Market Update – November 2019

A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.

EASTSIDE

As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.

VIEW FULL EASTSIDE REPORT

KING COUNTY

King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.

VIEW FULL KING COUNTY REPORT

SEATTLE

Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year.  Seattle was recently named the third fastest-growing city in America.  Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.

VIEW FULL SEATTLE REPORT

SNOHOMISH COUNTY

Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000.  Supply remains very low, with just six weeks of available inventory.

VIEW FULL SNOHOMISH COUNTY REPORT


This post originally appeared on GetTheWReport.com


Posted on November 16, 2019 at 1:59 am
Karen Prins | Posted in Buying a Home, Local Market Update, Real Estate Investing, Selling a Home | Tagged , , , , ,