Snohomish County Real Estate Stats for July 2010

Not even the lowest interest rates in decades and incredible deals could get many wary buyers off the fence once again this month. I wish more buyers would or could take advantage of the best market I have seen in the over 22 years I have been selling real estate. Banks are tight with money and home loans are hard to come by, but persistance can pay off for buyers who recognize they may not see such a perfect storm for many years to come.

It makes sense that buyers are wary. The economy continues to struggle with more bad news coming out just this week. The market needs a combination of low interest rates, jobs and consumer confidence to build momentum.

A bright spot is news from the “Monthly Monitor” newsletter from Bothell-based New Home Trends, Inc. They said new home sales activity is trending up in the Puget Sound region. “The number of new construction home sales written in the last twelve months exceeds the previous year by 28.1 percent. The Puget Sound area continues to show a demand for new housing,” the report concludes.

I think we have turned the corner on home prices, which seem to have stabilized. If the job market improves, I believe we will see more first time and move up buyers come into the market. One can only hope for more positive economic news. There is a lot more at stake than the real estate market.

Here are the Snohomish County statistics for July 2010 broken into categories:

Residential

New Listings: 1288 Active Listings: 4770 Average Price: $370,540

Residential New Construction

New Listings: 180 Active Listings: 785 Average Price: $382,648

Condominiums

New Listings: 257 Active Listings: 1138 Average Price: $233,014

Condominiums New Construction

New Listings: 43 Active Listings: 210 Average Price: $338,587

Residential Pending Sales:

755 pending sales with an average price of $304,354 (list price) and 105 days on market

Residential New Construction Pending Sales:

111 pending sales with an average price of $340,606 (list price) and 107 days on market

Condominium Pending Sales:

115 pending sales with an average price of $196,987 (list price) and 116 days on market

Condominium New Construction Pending Sales:

18 pending sales with an average price of $329,381 (list price) and 167 days on market

Residential Closed Sales:

628 closed sales with an average price of $302,897

Residential New Construction Closed Sales:

127 closed sales with an average price of $357,467

Condominium Closed Sales:

99 closed sales with an average price of $209,983

Condominium New Construction Closed Sales:

29 closed sales with an average price of $245,700

**This data was obtained from the Northwest Multiple Listing Service