Home sales slow down

  • By Mike Benbow / Herald Writer
  • Tuesday, February 7, 2006 9:00pm
  • Business

Snohomish County home sales in January were a bit sluggish, but they still beat last year’s numbers in the wake of a national slowdown.

Following a trend that began last fall, the number of listed homes was down last month. Buyers had a choice of more than 3,000 homes in January, a 6 percent drop from the previous year.

Pending sales were up slightly from year-ago figures. Closed sales were up 8 percent for the period.

That shows the county’s hot housing market has clearly slowed from last summer, when there were double-digit increases in comparison to the previous year. But it still showed modest increases, even though many areas of the county have seen strong drops in home sales.

J. Lennox Scott, chief executive of John L. Scott Realty, said he expects the housing market to continue to be strong in the Puget Sound area because of the economy. He noted that job growth is strong and interest rates are relatively low, two factors that drive home sales.

“Now that we’re through the worst of the weather and the Super Bowl has passed, February and March are expected to see a surge of buyers and subsequent sales,” he said.

The sales slowdown didn’t seem to have a strong effect on prices.

The median for single-family homes and condominiums combined was $299,950 in January, an 18 percent increase from homes sold a year ago. For single-family homes only, the median was $317,000. For condos, it was $185,000. Median means half the homes sold for more and half sold for less.

As usual, homes near the King County line were the most expensive.

Here’s a rundown on prices and appreciation in different areas of Snohomish County:

* In the Maltby area south of Snohomish, the median price was $430,346, a 37 percent increase from a year ago. Most of the homes sold in the area were new, which drove up median prices.

* Prices also were high in the Edmonds, Lynnwood and Mountlake Terrace areas, where the median was $334,475, up 22 percent from last year.

* Homes in the Everett, Mill Creek and Mukilteo areas had combined medians of $292,750, a 17 percent hike.

* In the Snohomish Valley, the median price was $268,207, up only 8.3 percent.

* In the Lake Stevens and Granite Falls area, the median was $258,950, a 15.8 percent increase.

* And in the Stanwood and Marysville areas, the median was $264,700, a 17.6 percent increase.

January home sales

Snohomish County

Listings: 3,092, down 6.2 percent.

Median price: $299,350, up 18 percent.

Pending sales: 1,204, up 2.12 percent

Closed sales: 1,022, up 8 percent.

Island County

Listings: 566, up 5.8 percent.

Median price: $265,000, up 23.8 percent

Pending sales: 104, down 4.6 percent.

Closed sales: 77, down 33.6 percent.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Business

A closing sign hangs above the entrance of the Big Lots at Evergreen and Madison on Monday, July 22, 2024, in Everett, Washington. (Ryan Berry / The Herald)
Big Lots announces it will shutter Everett and Lynnwood stores

The Marysville store will remain open for now. The retailer reported declining sales in the first quarter of the year.

George Montemor poses for a photo in front of his office in Lynnwood, Washington on Tuesday, July 30, 2024.  (Annie Barker / The Herald)
Despite high mortgage rates, Snohomish County home market still competitive

Snohomish County homes priced from $550K to $850K are pulling in multiple offers and selling quickly.

Henry M. Jackson High School’s robotic team, Jack in the Bot, shake hands at the 2024 Indiana Robotics Invitational.(Henry M. Jackson High School)
Mill Creek robotics team — Jack in the Bot — wins big

Henry M. Jackson High School students took first place at the Indiana Robotic Invitational for the second year in a row.

The computer science and robotics and artificial intelligence department faculty includes (left to right) faculty department head Allison Obourn; Dean Carey Schroyer; Ishaani Priyadarshini; ROBAI department head Sirine Maalej and Charlene Lugli. PHOTO: Arutyun Sargsyan / Edmonds College.
Edmonds College to offer 2 new four-year degree programs

The college is accepting applications for bachelor programs in computer science as well as robotics and artificial intelligence.

FILE — Boeing 737 MAX8 airplanes on the assembly line at the Boeing plant in Renton, Wash., on March 27, 2019. Boeing said on Wednesday, Feb. 21, 2024, that it was shaking up the leadership in its commercial airplanes unit after a harrowing incident last month during which a piece fell off a 737 Max 9 jet in flight. (Ruth Fremson/The New York Times)
Federal judge rejects Boeing’s guilty plea related to 737 Max crashes

The plea agreement included a fine of up to $487 million and three years of probation.

Neetha Hsu practices a command with Marley, left, and Andie Holsten practices with Oshie, right, during a puppy training class at The Everett Zoom Room in Everett, Washington on Wednesday, July 3, 2024. (Annie Barker / The Herald)
Tricks of the trade: New Everett dog training gym is a people-pleaser

Everett Zoom Room offers training for puppies, dogs and their owners: “We don’t train dogs, we train the people who love them.”

Andy Bronson/ The Herald 

Everett mayor Ray Stephenson looks over the city on Tuesday, Jan. 5, 2015 in Everett, Wa. Stephanson sees  Utah’s “housing first” model – dealing with homelessness first before tackling related issues – is one Everett and Snohomish County should adopt.

Local:issuesStephanson

Shot on: 1/5/16
Economic Alliance taps former Everett mayor as CEO

Ray Stephanson will serve as the interim leader of the Snohomish County group.

Molbak's Garden + Home in Woodinville, Washington will close on Jan. 28. (Photo courtesy of Molbak's)
After tumultuous year, Molbak’s is being demolished in Woodinville

The beloved garden store closed in January. And a fundraising initiative to revitalize the space fell short.

Everett Mayor Cassie Franklin, Advanced Manufacturing Skills Center executive director Larry Cluphf, Boeing Director of manufacturing and safety Cameron Myers, Edmonds College President Amit Singh, U.S. Rep. Rick Larsen, and Snohomish County Executive Dave Somers participate in a ribbon-cutting ceremony on Tuesday, July 2 celebrating the opening of a new fuselage training lab at Paine Field. Credit: Arutyun Sargsyan / Edmonds College
‘Magic happens’: Paine Field aerospace center dedicates new hands-on lab

Last month, Edmonds College officials cut the ribbon on a new training lab — a section of a 12-ton Boeing 767 tanker.

Gov. Jay Inslee presents CEO Fredrik Hellstrom with the Swedish flag during a grand opening ceremony for Sweden-based Echandia on Tuesday, July 30, 2024, in Marysville, Washington. (Ryan Berry / The Herald)
Swedish battery maker opens first U.S. facility in Marysville

Echandia’s marine battery systems power everything from tug boats to passenger and car ferries.

Helion Energy CEO and co-founder David Kirtley talks to Governor Jay Inslee about Trenta, Helion’s 6th fusion prototype, during a tour of their facility on Tuesday, July 9, 2024 in Everett, Washington. (Olivia Vanni / The Herald)
State grants Everett-based Helion a fusion energy license

The permit allows Helion to use radioactive materials to operate the company’s fusion generator.

People walk past the new J.sweets storefront in Alderwood Mall on Thursday, July 25, 2024, in Lynnwood, Washington. (Olivia Vanni / The Herald)
New Japanese-style sweets shop to open in Lynnwood

J. Sweets, offering traditional Japanese and western style treats opens, could open by early August at the Alderwood mall.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.