FRENZY

Snohomish County Housing Update Key Market Indicators - August 1, 2017

Blazing hot Snohomish housing market continues

Sales Activity

Temperatures are rising across Snohomish County and the housing market is keeping pace. We are seeing more inventory coming on the market in the mid and higher price ranges, creating greater selection and more breathing room for the backlog of buyers, but it continues to be a seller’s market. The summer market is turning out to be one of the hottest on record.

FRENZY

J. Lennox Scott, Chairman and CEO

Percentage of Homes Selling in the First 30 Days

Months of Supply

Months Supply

1 to 2

1.0 Level

Shortage Shortage

Unbelievable 3% Amazing 4%

69%

Price Trend



Upper single ++ Upper singledigit digits

3 to 4

Low

Up single digits

5 to 6

Healthy

Equilibrium

7 to 8

Adjusting

Down single digits

9+

Correction

Major correction

30%

Shortage of Homes for sale

Snohomish County Market - Based on Resale Listings and Pending Contracts (August 1, 2017) Ask your broker for the months supply for your selected price range/area.

Unbelievable Interest rates

Normal

Current

Quick Market for New Listings For July 2017

Some John L. Scott offices are independently owned and operated.

3.92

Fantastic 5%

Great 6%

%

Good 7%

7.70%

6.32%

4.07%

3.85%

15yrs ago

10yrs ago

5yrs ago

1yr ago

Historically Low Interest Rates August 1, 2017 Source: Freddie Mac