Here’s a quick statistical recap of Snohomish and King counties in 2019.
If you’re thinking of moving to Snohomish County or you’re already a resident and are considering selling your home, here’s a quick breakdown of our 2019 market.
May was our top month in terms of new listings, and July (unsurprisingly) was our top month in terms of closings. 13% of all closings were for new construction homes, which represents a shortage of new construction. The average sales price for new construction was $550,000, which is interesting because that’s usually closer to what we see for move-up (or second) homes. Typically, first-time homebuyers in our area purchase in the $300,000 to $350,000 range.
The average sales price in Snohomish County was $515,360 and we averaged 1.45 months of inventory. This means if no new homes were listed, it would take buyers just shy of a month and a half to buy all listed homes. This represents a very strong seller’s market and sits way below a balanced market, which is around five or six months of inventory. This resulted in an appreciation rate of 2.65%.
How does this compare to King County? Overall, King County is still more expensive to live in, as the average sales price was $748,765. Inventory, meanwhile, averaged out at 1.74 months, and appreciation stood at just 0.82%. The appreciation rate was less than half of Snohomish County’s mostly because of affordability challenges.
The top three school districts in Snohomish County in 2019 (as rated by how expensive they were to live in) were as follows:
If you’d like to know more about what happened in Snohomish County in 2019, you can download a full market report here. If you have other real estate questions, don’t hesitate to reach out to me. I’d love to help you.