The Snohomish County market report for February 2019 is out and we have some important data to share. The Novak Team is committed to providing up to date information affecting the real estate market for our best clients. We are here to assist you in making the best decision possible.  

Let’s take a quick look at the February numbers for Snohomish County:

·      The average days on the market increased 8% to 27 days in 2019.

·      The months of inventory supply increased 41% this year and sits at 1.7 months.

·      The average home price is up 9% to $519,271.

·      The number of homes for sale on the market increased 36% with 1,644 homes listed.

What it all means

For Sellers:

The current numbers are indicative of market shift. We are seeing a little more inventory, homes are sitting on the market a little bit longer and prices are not going up as fast as we were seeing before. These are all factors that need to be considered for those selling a home. If you are selling, you definitely want to get your home listed on the market before the spring surge arrives as their will be a lot more supply on the market. Currently the demand outpaces the supply, that may diminish in the months to come and will affect the success in selling the home.

If you are thinking about selling, don’t hesitate and give a call today.

For buyers:

We are seeing some very competitive properties on the market in the $300K-$400K price range. If you are shopping for home under $400,000 you should get aggressive in getting out and viewing the homes. You cannot wait for the open houses on the weekend. You must have an agent or a representative get you in to view the home the same day it comes on the market.