South Snohomish County Quarterly Market Trends – Q3 2019

Increased pending activity is an indication of strong buyer demand which is very much being driven by historically low interest rates, a thriving job market, and an overall strong local economy. In fact, interest rates are an entire point lower than they were a year ago! This affords buyers a price point that is 10% higher over last year while maintaining the same monthly payment. A year ago, the monthly payment for a home at $550,000 is the same for a home at $605,000 today. Today’s rates coupled with tempered price appreciation provides increased affordability for buyers, which in turn is providing a healthy audience for sellers.  After many years of strong price increases, many sellers are moving their equity to the next lifestyle home they desire.

 

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on October 21, 2019 at 8:40 pm
Jen Bowman | Category: South Snohomish Co Quarterly Market Trends

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