Lake Stevens Journal - Your hometown newspaper since 1960

 

By Steve Strong
John L. Scott Real Estate 

The Lake Stevens Real Estate Report

 

October 9, 2012



The big news is the sharp decline of sales in Lake Stevens and Snohomish County for the month of September 2012.

The Northwest Multiple Listing Service shows that Lake Stevens had only 49 home sales, a dramatic decrease from the 66 homes sold in August.

For Snohomish County, there were only 657 residential home sales, down 240 from August 2012 when there were 897 home sales; the highest month in home sales for 2012 so far.

Out of the 49 residential homes that sold in Lake Stevens for the month of September, new home sales led with 14 of these, followed by 13 owner selling non-distressed sales, 12 short-sales, and 10 bank owned sales.

The median value for a home in Lake Stevens rose to $234,950 in September, up from $226,250 in August, yet short of 2012’s peak value for July of $239,950. New construction in Lake Stevens is largely responsible for raising median values.

Currently there are 1878 active listings for residential property in Snohomish County. Lake Stevens has 170 active listings. Of the 49 that sold in Lake Stevens last month, the most expensive one to sell was for $425,000; followed by 8 in the $300,000 range, and everything else falling below that.

The average home that sold averaged 1884 square feet, was on the market for 67 days (before entering into contract), and sold for 100.5 percent of the last list price.

The statistics show continuity, that the home market in Lake Stevens is constantly improving. The real estate market has changed from a buyer’s market to a seller’s market.

Multiple offers is once again commonplace on well-priced homes, many contracts have escalation clauses; with buyers willing to go over full price to beat out other competing offers. Some homes sell the day they are listed.

Now is a great time to buy. Prices will never be this low again. Financing options and available types of loans are the best we have ever seen. People with ‘not that great of credit’ are buying homes every day, some with no money down and the seller is paying most or all of their closing costs. BUY, BUY, BUY.

It is a great time to sell as well. Buyers are presenting good offers, homes are selling quickly. Terms are more in your favor. And IT SELLS! To learn more about real estate visit http://www.johnlscott.com/steves.

 

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