July’s spike in median value for single family housing in Snohomish County re-adjusted in August with a slight decline, from $272,275 to $269,850 while sales continue to increase. August climbed to 897 closed sales over July’s 874.
The ever continuing shrinking inventory for active single family listings (condo listings not included) since the beginning of the year has finally stopped with an increase of 2,018 active listings for the month of August from 1,973 for the month of July.
The median value for a single family home in Lake Stevens fell to $226,250 for the month of August from $239,950 for the month of July, but stayed ahead of June’s median value of $224,960 for single family homes. So the formula for determining value of homes in Lake Stevens fell back into that mid $120 per square foot range for the living space of a home.
Cities surrounding Lake Stevens have different median values but also have different average square feet, so comparisons of value prove to be difficult to compare.
One interesting statistic is the average Days On Market (DOM) that the houses that sold were on the market. Lake Stevens led the way with only 69 DOM, followed by Everett with 77 DOM, Marysville with 87 DOM, and Snohomish with 126 DOM, followed by Granite Falls with 132 DOM.
Of the 66 single family homes that sold in Lake Stevens last month, 17 were bank owned, 14 were short-sales. Out of the 167 existing active listings for single family homes in Lake Stevens, 10 are bank owned and 35 are short-sales.
To learn more about the real estate market visit www.johnlscott.com/steves.