The Lake Stevens Real Estate Report
Santa has visited Lake Stevens! Residential home sales continue to surge. The Northwest Multiple Listing Service reports 65 closed sales, down just five from the previous month with 70 closed sales. September had 58 closed sales. The momentum can be felt going into December.
As of December 5, there were just 134 available residential properties to purchase in Lake Stevens, down eight from last month. The median sales price increased to $236,965, up $5,165 from last month but short of September’s $247,000.
The building boom continues for Lake Stevens. For the month of November, there were 22 new home sales, up from 19 in October. New home sales continue to be strong. There were as many new home sales as there were non-distressed homeowner sales, also at 22. New home sales in Lake Stevens made up twenty percent of all new home sales in Snohomish County for the month of November, which was 108.
New home sales increase median value for an area more than any other factor. The newer or more updated homes sell for more than those that are older, that have not been updated. Updating homes has to be done to maintain good value on a home.
The biggest builder in the United States, DR Horton, is starting to build homes in a new plat with over 170 lots here in Lake Stevens on the west side of Highway 9. They offer a variety of affordable price ranged homes with varying lot sizes from small to moderate. They love Lake Stevens! People love Lake Stevens! Everyone wants to live in Lake Stevens. We are becoming Everett’s Bellevue.
Most experts would agree that the market has turned to a seller’s market. Yet prices for buyers are well below what they once were and where they are going to go. Interest rates remain at historic lows. Banks are lending money. Lending is safe again. The market continues to be strong, and values are increasing.
For buyers looking to buy, working with a good real estate broker should make the home purchase experience an exciting, fun process. For selling a home, to make the experience as least painful as possible, and try to net the highest gain on sales price. Real estate brokers have teams of experts that can assist in making your transactions successful. They can help you find the right lender, inspectors and escrow to work best for you.
The website for the Lake Stevens Chamber of Commerce is a great place to start looking for available brokers that know the area well and can help you best. To find those links and more information on real estate, log on to http://www.johnlscott.com/steves. Happy Holidays!