Washington Real Estate Market Trends Report

Temporary problems in the mortgage market are expected to free some pent-up demand, but disrupted existing-home sales and distorted prices on sales closed in September, according to the National Association of Realtors®. Even so, prices continued to rise in some area. Because of this and other factors, total existing home sales fell 8% and are 19% below the level that they were in September 2006.

Lawrence Yun, NAR senior economist, said the decline is understandable. “Mortgage problems were peaking back in August when many of the September closings were being negotiated . . . the good news is that mortgage availability has markedly improved in recent weeks . . .”

Let’s take a look at the King and Snohomish County October sales statistics to see if this trend held true:

Active listings in King County increased dramatically by 31% in October 2007 - 14,240 homes were on the market compared to 9,871 in October 2006. Although there are more homes on the market, the number of those homes selling continues to decrease, from 3,148 in October 2006 to 2,359 - a 25% decrease. The increase in inventory has also caused market time to increase 28% this October.

King County continues to experience rising prices overall, with the average sales price 8% higher in 2007 than 2006, bringing the average year-to-date sales price to $500,800.

Snohomish County continued to experience similar market activity to King County in October 2007. The number of active listings was up 34%, but closed sales decreased 34% in October 2007 compared to October 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 50 days this time last year toto 75 days this October.

The average sales price increased 5% in October 2007 from October 2006, and year to date they have increased 9%.

This is a great time to consider buying or selling a home in Snohomish or King County WA. For more information about Snohomish County real estate, please visit KarensVillas.com or call me at 425-308-3669. To begin searching Snohomish County WA homes, please use my complimentary MLS search.

Washington Market Trends Report

According to the latest forecast by the National Association of Realtors®, tightening credit standards for those applying for home mortgages will likely dampen home sales in the short term and postpone an expected recovery for existing-home sales until 2008.

Lawrence Yun, senior NAR economist, said unusual disruptions in the mortgage market are dampening the outlook for home sales, notably for August and September. “There’s been an unusual hit to home sales, starting in March when subprime problems emerged and more recently when problems spread to jumbo loans, with many potential home buyers on the sidelines.” He noted, however, that “the volume of existing-home sales this year will be better than 2002, which was the second year of the housing boom.”

Let’s take a look at August sales statistics to see how the market looks in King and Snohomish counties.

Active listings in King County increased a whopping 34% in August 2007 - 13,415 homes were on the market compared to 8,894 in August 2006. Although there are more homes on the market, the number of those homes selling continues to decrease, from 3,975 in August 2006 to 3,210 - a 19% decrease. The increase in inventory has also caused market time to increase 25%, from 40 days last August to 53 days this August.

King County continues to experience rising prices overall, with the average sales price 9% higher in 2007 than 2006, bringing the average year-to-date sales price to $504,036.

Snohomish County continued to experience similar market activity to King County in August 2007. The number of active listings was up 38%, but closed sales decreased 35% in August 2007 compared to August 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 44 days this time last year to 67 days this August - a 34% increase.

The average sales price increased 6% in August 2007 from August 2006, and year to date they have increased 10%.

As these statistics show, now is a great time to consider buying a King or Snohomish county home. To begin searching for King or Snohomish county homes, please use my complimentary MLS Search, or call me at 425-308-3669. If you are thinking of selling your King or Snohomish county home, please call me or visit WashingtonHomeValues.net to receive your complimentary comparative market analsys. I will work to make sure you get a great deal!

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

King and Snohomish Counties Market Trends Report – August 2007

A forward-looking indicator based on pending home sales shows the market is likely to stabilize in the months ahead, according to the National Association of Realtors®.

The Pending Home Sales Index, based on contracts signed in June, was 5 percent higher from the downwardly revised May index of 97.5, but is 8.6 percent below June 2006 when it stood at 112. This 5 percent monthly gain is the largest in more than three years, since a 6.1 percent increase in March 2004.

Lawrence Yun, NAR senior economist, said it is encouraging that the increase occurred in all four major regions. “However, it is too early to say if home sales have already passed bottom,” he said.

Did this trend hold true in King and Snohomish Counties? Let’s take a look at July’s market statistics:

Active listings in King County increased in July 2007 by 4,357 homes or 34%compared to the same time period in 2006. Although there are more homes on the market, the number of homes being sold has decreased slightly, from 3,544 in July 2006 to 3,417 this July - a 4% decrease. The increase in inventory has also caused market time to increase 27%, from 36 days last July to 49 days this July.

King County continues to experience rising prices, with the average sales price 10% higher in 2007 than 2006, bringing the average sales price to $529,773.

Snohomish County experienced similar market activity to King County in July 2007. The number of active listings was up 36%, but closed sales decreased 17% in July 2007 compared to July 2006. Like in King County, the rise in inventory in Snohomish County caused the market times to increase from 42 days this time last year to 62 days this July - a 33% increase.

The average sales price increased 6% in July 2007 from July 2006, and year to date they have increased 10%.

The King and Snohomish Counties real estate market is always changing from month to month and neighborhood to neighborhood. Search the MLS here to see what's available in the area now and please call me at 425-308-3669 to inquire about any properties you would like to learn more about. I look forward to helping you!
Statistics compiled by the Northwest Multiple Listing Service and are deemed accurate but not warranted.

Market Trends Report For Snohomish County, WA – July 2007

Home prices are expected to recover in 2008 with existing-home sales picking up late this year and new-home sales rising early next year, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR senior economist, said a good buyers’ market has evolved. “Buyers now have an overwhelming advantage given the wide selection of homes available in many markets,” he said. “But with profit margins coming under pressure, homebuilders will limit new construction well into 2008. This should help the overall inventory level to move steadily into a more balanced state.”

Active listings in King County increased in June 2007 by 4,271 homes or 45% compared to the same time period in 2006. Although there are more homes being sold, there is also a marked increase in inventory causing the average market time in June to increase to 46 days vs. 36 days in 2006.

King County continued to experience rising prices, with the average sales price 11% higher in 2007 than 2006, bringing the average sales price to $507,969.

On the other hand, Snohomish County had a 12 percent decrease in sales - 191 more homes were sold in June of 2006 than of 2007.

Despite the sluggish sales, the number of active listings increased by 62 percent in June and market times increased 31 percent or 18 days. The average sales price increased by 9 percent compared to June 2006, increasing to $394,710.

Year to date, sales declined 15 percent, and the average sales price increased 11 percent.

June 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 years.

For more information about living in Snohomish County or Snohomish County real estate, please call me at 425-308-3669 or visit my website at www.KarensVillas.com.

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

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.