King and Snohomish County Real Estate Sales

"Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year according to the latest forecast by the National Association of Realtors. Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom." The King County housing market experienced an increase in sales in May, while Snohomish County sales were sluggish. Let's take a look.

Active listings in King County increased in May 2007 by 3,856 homes or 52 percent compared to the same time period in 2006. Sales in May increased by 2 percent or 74 homes. The average market time in May was 54 days vs. 42 days in 2006.

King County continued to experience rising prices, with the average sales price 12 percent higher in 2007 than 2006, bringing the average sales price to $521,402. Year to date, sales weakened by 2 percent, while prices strengthened by 11 percent.


On the other hand, Snohomish County had a 13 percent decrease in sales. Down 208 homes from May a year ago.

The number of active listings increased by 60 percent in May and market times increased 32 percent or 14 days. The average sales price increased by 10 percent compared to May 2006, increasing to $383,558.

Year to date, sales declined 15 percent, and the average sales price increased 14 percent.


May statistics show it is a great time to buy a home. Buyers have more homes to choose from, making sellers negotiable. But, buyers also need to keep in mind that buying a home is a long-term investment and can't expect to see the double digit annual appreciation of a few yers.

If you are thinking of buying a home, you can get a daily email list of new homes for sale as they hit the market by visiting my website. It is fast, easy and FREE!

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

Washington Real Estate Prices On The Rise

"As home sales moderate, overall home prices will be essentially flat this year," says David Lereah, chief economist for the National Association of Realtors. Tighter lending standards are expected to slow sales, but the good news is, inventory remains well below the levels seen in the real estate downturn of the early 1990's.

The King County and Snohomish County housing markets are both experiencing a slow down in sales, but prices and inventory continue to climb. Let's look at the numbers.

Active listings in King County increased in March 2007 by 2,341 homes or 37 percent compared to the same time period in 2006. In comparison, sales in March decreased by 1 percent or 44 homes. The average market time in March was 57 days vs. 43 days in 2006.

King County continued to experience healthy appreciation, with the average sales price 12 percent higher in 2007 than 2006, bringing the average sales price to $499,470.
Year to date, sales weakened by 2 percent, while prices strengthened by 8 percent and market times increased 31 percent.




Likewise, Snohomish County had a 17 percent decrease in sales. Down 268 homes from March a year ago.

The number of active listings increased by 44 percent in March. Market times increased 18 percent or 10 days. The average sales price increased by 17 percent compared to March 2006, increasing to $393,981.

Year to date, sales declined 17 percent, market times increased 25 percent and the average sales price increased 14 percent.




What does this mean to today's buyers and sellers? Buyers are enjoying their new found negotiating power, while sellers are enjoying rising prices.

If you are thinking of buying a Washington home? You can get a daily email list of new homes for sale as they hit the market by visiting WashingtonHousesR.us. It is fast, easy and FREE!

Snohomish County Real Estate Market Report

Frigid Air Affects Home Sales

"A rapid shift in February to frigid air in much of the country had a cooling effect on home shopping that went beyond normal seasonal factors. Weather factors have continued since, reported David Lereah, the National Association of Realtors chief economist." You will see this is true for both the King County and Snohomish County housing markets. But, even though sales slowed, prices rose in both counties.

Active listings in King County increased in February 2007 by 1,708 homes or 28 percent compared to the same time period in 2006. In comparison, sales in February decreased by 2 percent or 78 homes. The average market time in February increased by 31 percent. An increase of 15 days compared to February 2006.

King County continued to experience healthy appreciation, with the average sales price 12 percent higher in 2007 than 2006, bringing the average sales price to $463,444.
Year to date, sales weakened by 3 percent, while prices strengthened by 11 percent and market times increased 30 percent.

Likewise, Snohomish County had a 13 percent decrease in sales. Down 202 homes from February a year ago, while the number of homes sold in February was, also, down by 203 homes or 18 percent.

The number of active listings increased by 13 percent from February a year ago and market times increased 35 percent or 17 days. The average sales price increased by 11 percent compared to February 2006, increasing to $366,016.

Year to date, sales declined 17 percent, market times increased 32 percent and the average sales price increased 12 percent.

These statistics above are EXTREMELY good news for Washington home buyers. Coming into the spring, there are more homes on the market to choose from and fewer buyers to buy. Sellers are becoming very comptetitive in their pricing to attract today's ready, willing, and able buyers. On top of this, interest rates have been inching down over the past 3 weeks. Buyers, it is time to buy!!

If you are thinking of buying a home? You can get a daily email list of new homes for sale as they hit the market by visiting WashingtonHousesR.us. It is fast, easy and FREE!

King County and Snohomish County Home Sales

The National Association of Realtors reports consumers are responding to more favorable housing market conditions and are expecting sales to gradually rise throughout 2007. Time will tell whether or not this holds true locally, but let's take a look at January statistics.

Active listings in King County in January 2007 increased by 1,536 homes or 25 percent compared to the same time period in 2006. Sales in January increased by 2 percent, in comparison. The average market time in January increased by 28 percent from January 2006.

King County experienced healthy appreciation, with the average sales price was 9 percent higher in 2007 than 2006 with an averages sales price of $464,283.

King County's increase in sales and prices is notable with much of the country seeing declines in the number of sales.



Snohomish County, on the other hand, had a 15 percent decrease in sales. the number of homes sold in Janaury was down by 153 homes compared to January 2006.

The number of active listings increased by 31 percent from Janaury a year ago and January market times increased 25 percent or 13 days. The average sales price increased by 12 percent compared to January 2006, increasing to $373,193.



Interested in what the housing market is doing in your neighborhood? Visit WashingtonHomesR.us. I would be more than happy to email you the market activity - Actives and Sold statistics - in your Neighborhood!

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

Washington Housing Market Expected to Rise in 2007

"After bottoming in the fourth quarter of 2006, existing-home sales are expected to rise through 2007 and into 2008, while new home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors." Our local real estate markets in King and Snohomish counties fall in line with the latest NAR forecast.

Active listings in King County increased by 1,330 homes or 24 percent compared to the same time period in 2005. Year end figures show a 34 percent decrease in home sales compared to 2005 figures. Whereas, sales in December decreased by only 18 percent, indicating the worst is over and the market is improving.

The average market time in December increased by 31 percent from December 2005, while year-end market times increased only 5 percent.

Even though the number of sales were off in 2006 compared to 2005, King County experienced double digit apprecation. The average sales price was 13 percent higher in 2006 than 2005 with an averages sales price of $462,562.

Snohomish County statistics look very similar to King County. The number of active listings increased by 34 percent from December a year ago. December sales decreased by 206 homes or 15 percent, but year end sales decreased by only 5 percent.

December market times increasing 29 percent or 14 days, while year end statistics show an increase of only 2 days or 5 percent.

The average sales prices in 2006 increased by 15 percent compared 2005, increasing to $378,284.

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