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Sour economy begins to take a toll on home sales

Published 9:00 pm Thursday, December 6, 2001

By Mike Benbow / Herald Writer

By Mike Benbow

Herald Writer

Snohomish County home sales and prices slowed last month, a victim of a sluggish economy made worse by the September terrorist attacks.

There were 735 homes sold in the county in November, a nearly 17 percent drop from the 884 sold during same month last year, according to the Northwest Multiple Listing Service, which represents real estate agents in much of Western Washington. Pending sales dropped by 8.3 percent in comparison to 2000.

The biggest drop was in condominium sales.

Some 84 condos were sold last month in comparison to 112 a year ago, a 25 percent drop. They brought a median price of $149,975 a slight increase over the $147,000 median price in November 2000.

Sales of single-family homes totaled 651 last month, a drop of nearly 16 percent from last year. The median price, meaning half sold for more and half brought less, was $207,500. That compares with a $202,000 median for November of 2000.

The combined median price for homes sold last month was $199,950, up from $194,550 last year.

Homes in the county actually sold faster this year than during November 2000, spending an average of 48 days on the market in comparison to 50.

On Whidbey Island, the combined median was $170,000. On Camano Island, it was $156,200.

While home sales slipped from 2000, a strong year for real estate, agents said Thursday that 2001 is still a very good year.

Lennox Scott, president of John L. Scott Real Estate, said 2001 will the company’s best ever, with sales already surpassing previous records by the third week of November.

Here’s an area rundown on sales:

  • Marysville, Arlington, Stanwood — Some 131 homes sold here for a median price of $179, 950. They spent an average of 52 days on the market.

  • Lake Stevens, Granite Falls, Darrington — There were 81 homes sold here for an average price of $182,000. They averaged 55 days on the market.

  • Snohomish Monroe, Gold Bar — Some 63 homes sold here for a median price of $183,500. Fifty-six days was the average selling period.

  • Edmonds, Lynnwood, Mountlake Terrace — Homes here sold the fastest, averaging just 40 days on the market. The 152 sold also brought the second highest median price — $224,975.

  • Everett, Mukilteo, Mill Creek — The 213 homes sold here sold in the second fastest time, spending an average of 42 days on the market. They brought a median price of $202,500.

  • Maltby, southeast Snohomish County — Homes here brought the highest prices, a median $247,000. Many of the 82 homes sold were new, and they averaged 46 days on the market.

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