« November 2005 | Main | January 2006 »
December 15, 2005
Snohomish County Housing Status
From the office of the Snohomish County Camano Association of Realtors:
Housing Inventory
According to the National Association of Realtors, a housing market that is in equilibrium, that is a market that is not subject to significant price fluctuations because the demand of buyers is offset by an adequate supply of sellers, is a market with a 5 to 8 month supply of homes. The supply is measured by the total number of listed homes in a month divided by the number of closed sales in a month. There should be a minimum of 5 times as many listings as sales for equilibrium.
For the past year, Snohomish County has averaged a 2.2 month supply of single family homes. Markets that are not in equilibrium (housing shortage) tend to experience rapid price escalation.
This lack of inventory is a primary factor in the rapid escalation of housing prices in Snohomish County. It is this lack of inventory that has led to a median housing pice of $300,000 in October and November 2005.
Snohomish County Housing Statistics
Average Selling Price
1st Quarter 2005 - $307,821
4th Quarter 2004 - $296,138
3rd Quarter 2004 - $291,016
2nd Quarter 2004 - $287,947
1st Quarter 2004 - $274,301
Median Selling Price
1st Quarter 2005 - $290,000
4th Quarter 2004 - $280,225
3rd Quarter 2004 - $274,000
2nd Quarter 2004 - $265,000
1st Quarter 2004 - $252,000
Beau Betts provides Edmonds real estate services. Contact Beau Betts in order to sell an Edmondshome or Edmonds condominium property for the best possible price....quickly and professionally.
Posted by beaubetts at 11:06 AM | Comments (0) | TrackBack
A Quick Thank You
I wanted to thank the fine people over at Rain City Guide for linking to my blog. Anna Luther and her husband Dustin have what I consider is the de facto real estate blog for the Seattle area and I have been keeping tabs on it since they first started working on it. (I think it was around the time I started mine) While I have yet to have the pleasure of working with Anna on a real estate transaction I'm sure that sooner or later we'll work together. Keep up the good work!
Beau Betts provides Seattle real estate services. Contact Beau Betts in order to sell a Seattle home or Seattle condominium property for the best possible price....quickly and professionally.
Posted by beaubetts at 10:56 AM | Comments (0) | TrackBack
December 5, 2005
New Fannie Mae and Freddie Mac Loan Limits
Fannie Mae and Freddie Mac have announced their loan limits for 2006:
All States (Except Alaska and Hawaii)
One unit $417,000
Two unit $533,850
Three unit $645,300
Four unit $801,950
Alaska and Hawaii
$625,500
$800,775
$967,950
$1,202,925
Fun facts regarding historic conforming loan limits for one unit properties:
2005 $359,650
2004 $333,700
2003 $322,700
2002 $300,700
2001 $275,000
2000 $252,700
1999 $240,000
1998 $227,150
1997 $214,600
1996 $207,000
1995 $203,150
1994 $203,150
1993 $203,150
1992 $202,300
1991 $191,250
1990 $187,450
1989 $187,600
1988 $168,700
1987 $153,100
1986 $133,250
1985 $115,300
1984 $114,000
Beau Betts provides Lynnwood real estate services. Contact Beau Betts in order to sell a Lynnwood home or Lynnwood condominium property for the best possible price....quickly and professionally.
Posted by beaubetts at 12:55 PM | Comments (0) | TrackBack
December 2, 2005
October 2005 Real Estate Statistics
King County
Residential sales volume for October 2005 increased 23% from September 2005
All Sales vs Year-to-date 2004
- Residential sales volume: up 18% to $15.7 billion
- Residential transactions: up 3% to 38,754
- Mobile home sales on land: up 26% to $55 million
- Plexes (2-5 units) sales: up 35% to $451 million
- Land Sales: increased 76% to $693 million
- Average residence: $404,020, up 14%
Snohomish County
Residential sales volume for October 2005 increased 9% from September 2005
All Sales vs Year-to-date 2004
- Residential sales volume: up 35% to $4.9 billion
- Residential transactions: up 17% to 15,789
- Mobile home sales on land: up 38% to $99 million
- Plexes (2-5 units) sales: up 43% to $115 million
- Land Sales: increased 76% to $485 million
- Average residence: $311,338, up 15%
Contact Beau Betts in order to sell a home or condo property for the best possible price....quickly and professionally.
Posted by beaubetts at 10:29 AM | Comments (0) | TrackBack
Mortgage Market Update
The market is quiet so far today with the Jobs Report numbers coming in as expected. Here are today's average interest rates for a purchase transaction:
CONVENTIONAL conforming (now at $417,000)
30 year fixed rate: 6.125%
15 year fixed rate: 5.75%
30 year 100% loan: 6.50%
30 year Interest Only on a 80/20: 6.25%
CONVENTIONAL JUMBO
30 year fixed rate: 6.25%
FHA/VA
30 year fixed rate: 6.125%
3/1 ARM: 5.5%
Beau Betts provides Edmonds real estate services. Contact Beau Betts in order to sell an Edmonds home or Edmonds condominium property for the best possible price....quickly and professionally.
Posted by beaubetts at 10:24 AM | Comments (0) | TrackBack
