October 2019 Snohomish County Housing Market Report
In October 2019, we see the development of two different markets: One for houses under $425,000, one for houses priced above $550,000.
What does that mean for you if you would like to buy or sell a house? Is it the right time to refinance?
Our market is shifting:
Low interest rates increase your purchase power. You now can get a $440,000 house for the same monthly price as a $400,000 eight months ago!
With under a month supply houses are selling fast. We still see multiple offers... Make sure you are fully pre-approved or even underwritten to submit a strong offer!
Depending on the price range, houses sit on the market a little longer. Now it's more important than ever to know which market you are in! Know what to expect: Houses under $425,000 still see multiple offers. Higher price ranges are sitting much longer, up to three months: The average days on market for houses above $550,000 are at 39. For this price range, we have a 2.6 month supply.
What does that mean for you? Get a door into the door when you are a buyer and find the right marketing if you are a seller!
Give us a call or contact us below!