Residential Housing Statistics in Snohomish County December 2009
What is going on with the real estate market in Snohomish County? As being a Snohomish County resident and a Real Estate Agent, I feel as I need to share the factual numbers which are published every month by Northwest Multiple Listing Service (MLS) with my clients.
I often get calls from my active buyers asking “when to buy”. My sellers are asking me “when you sell”. Each party wants to know how long to wait before pulling the trigger. My answer is “when it is the right time for you, your budget and your family”. Each person has a different life event that calls to buy or sell real estate.
Northwest Multiple Listing Service (MLS) reported as following stats for Dec 2009.
| ACTIVE | PENDING | SOLD | |||
| DEC 09 UNITS | 3,533 | 628 | 654 | ||
| DEC 08 UNITS | 4,362 | 455 | 346 | ||
| Total Unit +/- | -829 | 173 | 308 | ||
| Difference DEC % | -19.01% | 38.02% | 89.02% | ||
| YTD 09 UNITS | 15,025 | 9,979 | 6,644 | ||
| YTD 08 UNITS | 17,483 | 7,693 | 6291 | ||
| Total Unit +/- | -2458 | 2286 | 353 | ||
| Difference YTD % | -14.06% | 29.72% | 5.61% |
As seen above chart, Residential active listings units dropped 19.01% from 4362 units in 2008 vs 3533 units in 2009 for the month of December while Pending Residential units increased 38.02%, as Dec 09 pending listings were 628 units compare to 455 units in December 2008. There is a huge increase in sold units at 89.02%, 654 units closed in 2009 vs 346 units in 2008.
| DEC 09 MEDIAN | $319,950 | $285,495 | $287,000 | ||
| DEC 08 MEDIAN | $379,950 | $309,000 | $318,694 | ||
| Price +/- | -$60,000 | -$23,505 | -$31,694 | ||
| Difference DEC % | -15% | -8% | -19% | ||
| YTD 09 MEDIAN | $349,999 | $289,000 | $299,950 | ||
| YTD 08 MEDIAN | $399,000 | $339,950 | $345,000 | ||
| Price +/- | -$49,001 | -$50,950 | -$45,050 | ||
| Difference YTD % | -12.28% | -14.99% | -13.06% |
As seen above chart, Median Price declined all across for Active, Pending and Sold Listings. For December 09 sold median price was $287,000, dropped 19% compare to Dec 2008 while year to date Median price dropped further to 13.06%.
| DEC 09 MEDIAN | $319,950 | $285,495 | $287,000 | ||
| DEC 08 MEDIAN | $379,950 | $309,000 | $318,694 | ||
| Price +/- | -$60,000 | -$23,505 | -$31,694 | ||
| Difference DEC % | -15% | -8% | -19% | ||
| YTD 09 MEDIAN | $349,999 | $289,000 | $299,950 | ||
| YTD 08 MEDIAN | $399,000 | $339,950 | $345,000 | ||
| Price +/- | -$49,001 | -$50,950 | -$45,050 | ||
| Difference YTD % | -12.28% | -14.99% | -13.06% |
As seen above chart, one other important factor to watch is “Days on the market” (DOM). Due to better pricing of the homes as they get listed, DOM has dropped 12.3% for sold listings in December 2009 vs 2008.
Over all, Days on the market is shortening, Inventory of homes dropping while sold home units are increasing. December 2009 Market Trend is showing a promising future for buyers and sellers. Yes, values are declining as there is activity out there…..
If you would like more personalized information for your area, please contact me via email Sebnem.oden@exprealty.com or visiting my websitewww.ProKeyRE.com
Wishing you a prosperous real estate future….
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