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Lake Stevens Real Estate Report


August 13, 2013

The Lake Stevens John L. Scott office hosted Lennox Scott, owner and CEO of John L. Scott Real Estate to meet with area brokers at the Fire Convention Center on July 31.

Scott went over sales strategies, and stressed the importance of having a property ready to sell at listing time. “The best chance to sell is within the first thirty days” he said. “There are collectively a lot more buyers looking at a new listing when it comes out. After that, there is a much smaller percentage of new buyers coming into the market that will be looking at it.”

Scott strategizes with leading specialists on how to get sellers the best exposure, net the highest dollar, in the shortest time. His company has won national recognition and awards. Scott has done many things throughout his career to improve the industry.

Gary Mose, office manager and co-owner of the Lake Stevens John L. Scott office commented “It was really nice to have Lennox in our town.”

Values increase in the Lake Stevens area. According to the Northwest Multiple Listing Service (NWMLS), the median value for a residential (the ‘residential’ statistic does not include condo’s, but most likely includes detached condo’s) home was $279,751 for homes that sold in July, up from the $265,000 for the month of June. Inventory is also gaining, slightly month by month with 144 active listings as of August 6, 2013.

New home sales bounced back in July with 20 of the 66 residential sales in Lake Stevens, up to the prior month’s total of 11 of the 65 sales. New construction has been consistently selling well in 2013. New home sales spiked in March with 27 (65 total sales), April with 31 (74 total sales) and May with 31 (80 total sales). May led in total sales so far for the year.

There is an increase in bank owned sales for the past two months with 10 out of the 65 in June, and 9 out of the 66 for July. Short sales continue to sell well in 2013, and seem to be a steady statistic with 16 that closed in January followed by 11, 13, 11, 18, 13, and 11 for July.

For Snohomish County the NWMLS reports the residential median value for the month of July was $304,000, up 11.65% from $272,275 a year ago. Median value for a condo for the month of July is $195,000, up 26.62% from $154,000 last year.

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