What’s going on with real estate?

  • Saturday, January 26, 2019 1:30am
  • Opinion

By Todd Fahlman

Some homeowners and home buyers are left scratching their heads, “What is going on with real estate home prices?”

Within the last nine months we’ve gone from insane multiple offers to price reductions and now sour milk listings. The rapid change in the real estate market has some people singing the hit song from the Clash – “Should I stay or should I go.”

The real estate market is moved and adjusted by inventory levels, number of buyers in the marketplace, interest rates and employment opportunities. The inventory in our area at the end of 2017 finished at 163 total active listings. The market ended 2018 with 239 active listings, which is a whopping 47 percent increase year-over-year. This is good news for buyers and not-so-good news for sellers.

There is no reason to think you are on a sinking ship when you hear this news. For the same time period median home sales prices jumped 11 percent from $345,000 at the end of 2017 to $382,500 this year. This was the highest increase in all of Snohomish County for this time period even with closed sales dropping 9 percent.

Commenting on inventory, declines in closed sales and the drop in month’s supply, MLS director Dick Beeson said, “There’s lots of speculation as to the reasons why. One thing for sure: this situation can make for a deliciously deceptive market for either buyers or sellers.”

The Marysville market is ripe for home appreciation in 2019. Based upon the median home sales price in south Snohomish County at $495,000 compared with ours at $382,500 you can easily understand why we are seeing a much more robust rate of appreciation and very low inventory levels resting around 1.33 months of supply.

The spring market is already starting to take effect so start your planning now and take advantage of low interest rates and lower home prices before the spring market boom.

Todd Fahlman is a local real estate agent who writes a monthly column for this newspaper.

More in Opinion

Hits and misses

Hits •The Marysville and Arlington street crews did a great job clearing… Continue reading

Traffic fixes on the way in Marysville

By Jon Nehring In city government, we often need to take the… Continue reading

Unlike federal government, SnoCo is bipartisan

By Nate Nehring While the federal government remains shut down and partisan… Continue reading

Important questions for the community of Arlington

By Chrys Sweeting Arlington has an important question to consider on February’s… Continue reading

Editor’s notes

We’d like to thank everyone who emailed in their opinion to the… Continue reading

What’s going on with real estate?

By Todd Fahlman Some homeowners and home buyers are left scratching their… Continue reading

You are enough and you can be better

By Jenny Smith My kids have these Magna-Tiles that are all kinds… Continue reading

What about health issues beyond weight?

By Emily Countryman Did the holidays take their toll on you? If… Continue reading

Marysville offering more career opportunities for students

By Vanessa Edwards Our district’s mission is to: Engage our community; Inspire… Continue reading

Cuts are made; please pass Arlington school bonds this time

Arlington voters will receive their mail-in ballots Jan. 24. We, and the… Continue reading

Check us out online

While we appreciate that you enjoy looking through our newspapers we want… Continue reading