Saturday, September 30, 2006

King & Snohomish County Market Report

Housing prices are expected to continue to have a limited fall throughout 2006, according to testimony submitted by the National Association of Realtors® at last week's Senate Banking Committee hearing on the economy. August home sales in King and Snohomish counties are defying this forecast, however. The statistics show a decreasing number of sales, but rising prices. Take a look at the numbers.

Active listings in King County increased by 1853 homes or 26 percent compared to the same time period in 2005. Sales decreased in August by 4 percent or 152 homes. The average market time increased by 14 percent during the same time period.

The average sales price is 12 percent higher than August 2005 and year-to-date prices are 15 percent higher or $458,509.

Snohomish County statistics look very similar. The number of active listings increased by 24 percent from August a year ago. And sales decreased by 97 homes or 5 percent with market times increasing 5 percent or 2 days.

The average sales prices in August increased by 14 percent compared to a year ago, while the year-to-date prices are up 17 percent or $299,159.

Double digit appreciation is continuing, but the competition for ready, willing and able buyers is getting tighter. Homes must be staged well and priced right. Contact me if you are thinking of selling your home. I have the experience, market knowledge and marketing expertise needed to sell your home in today's market! Also, visit my website. Here you can view all King & Snohomish county real estate listings, get the current market value of your home and more.

Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

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