Snohomish County Real Estate Market Report- Updated for December 2021

We did not see the soggy weather & the onset of the holidays approaching deter buyers and sellers in November. The numbers for new listings, pending sales, and closed sales were comparable to year-ago totals, while prices rose a little more than 15%.

In the so-called seasonal slowdown, we normally see serious buyers gain an advantage over casual buyers who take a break during the holidays. The difference this year is that there were fewer buyers taking a break and the demand remains high. Although inventory remains to be an issue moving into 2022, some analysts think that the price of home appreciation will start to slow significantly from levels seen this year.READ MORE HERE…

In Snohomish County, December 2021 began with:

• 951 New Listings
• .24 months worth of Inventory
• Median home price of $658,505

Data in these graphics includes all of Washington State, not just Snohomish County.

Let’s break it down per city:

Interest Rates are Still Historically Low but climbing

What Does This Data Mean?

Inventory levels continue to be low. Most places currently have less than 1 months supply available, we are still very much in a seller-based market, a balanced market is said to be when we have approximately 4-6 months worth of inventory.  Due to the ongoing demand for real estate in the Greater Seattle area, I would expect to see a robust real estate market going through 2021. Prices are continuing to increase in the North Sound Region, especially along the I-5 corridor.

Buyers are wisely taking advantage of record low-interest rates.  Potential sellers should act now as this is an EXCELLENT time to put your home on the market.  I will continue to follow the market trends and inform you each month as we go into Spring.

For Month-by-Moth Comparison and In-depth Market Reports

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