South Snohomish County Quarterly Market Trends – Q3 2019

Increased pending activity is an indication of strong buyer demand which is very much being driven by historically low interest rates, a thriving job market, and an overall strong local economy. In fact, interest rates are an entire point lower than they were a year ago! This affords buyers a price point that is 10% higher over last year while maintaining the same monthly payment. A year ago, the monthly payment for a home at $550,000 is the same for a home at $605,000 today. Today’s rates coupled with tempered price appreciation provides increased affordability for buyers, which in turn is providing a healthy audience for sellers.  After many years of strong price increases, many sellers are moving their equity to the next lifestyle home they desire.

 

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on October 17, 2019 at 9:19 pm
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Edmonds, Everett, Lynnwood, Mill Creek, Mukilteo, Selling Homes, South Snohomish County

South Snohomish County Quarterly Market Trends – Q2 2019

2019 provided a very healthy and more balanced spring market! Median price is up 3% complete year-over-year and up 1% from last June. Prices have started to find their balance as more inventory has come to market compared to the scarcity of years past. While buyers have had more choices over the last year, it is still a seller’s market with just 1.5 months of inventory based on pending sales, resulting in an average of 21 days on market and 99% list-to-sale price ratio in June. Low interest rates continue to drive demand, however sellers who overprice or don’t address condition issues will linger on the market, which is illustrated by the 16% increase in carryover inventory year-over-year.

Our real estate market continues to be driven by low interest rates, positive job creation, and upbeat consumer sentiment. Currently, interest rates sit around 4% which is still an historical low, affording buyers the ability to make moves and reduce their debt service. Price appreciation has started to temper to more normal rates, compared to the double-digit appreciation we experienced over the last 3 years due to more sellers coming to market. This has created more balance and greater opportunity for buyers. The generational shift we are experiencing as Baby Boomers move towards retirement and Millennials enter into their prime earning years is an exciting exchange happening in the market place right now.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on July 17, 2019 at 7:52 pm
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Edmonds, Lynnwood, Mill Creek, Mukilteo, Selling Homes, South Snohomish County

South Snohomish County 3rd Quarter 2018 Market Trends

South Snohomish County Quarterly Market Trends 

In September, the average days on market landed at 27 days and the original list-to-sale price ratio 98%. Since May, inventory growth has been noticeable, and has given buyers more options. This has led to more negotiations and fewer bidding wars, which is tempering month-over-month price growth to a more sustainable level. Back in April, the average days on market was 14 days and the original list-to-sale price ratio 104%; but months of inventory based on pending sales was 0.8 months, compared to 2.5 months currently. Year-over-year, prices are up 11%, still well above the historical norm of 3%-5% year-over-year gains—but note that the majority of this growth happened during the spring, due to constricted inventory levels. 

Supply has increased, creating more options for buyers and helping to buffer affordability issues. Many sellers are deciding to make moves and cash in on the equity gained over the last six years. An average original list-to-sale price ratio of 98% is a positive return, yet illustrates a softening in the market after some very extreme times. With 11% price growth over the last 12-months in a seller’s favor, the increase in selection has led to more nimble moves from one house to another. Where sellers need to be careful is anticipating the month-over-month price growth we saw prior to the shift in inventory. Prospective buyers would be smart to take advantage of today’s historically low interest rates and the added inventory selection. 

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on October 24, 2018 at 7:31 pm
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Edmonds, Everett, Lynnwood, Mill Creek, Mukilteo, Selling Homes, South Snohomish County

South Snohomish County Qtr 2 Market Trends

As we head into the summer months we are seeing a healthy jump in inventory in our area. In May, we saw the biggest jump in new listings in a decade! Price appreciation has created this phenomenon, motivating many people to make big moves with their equity. In fact, prices are up 13% year-over-year. We currently sit at 1.3 months of inventory based on pending sales. This more-equal balance of homes for sale compared to the first quarter has created great opportunities for buyers, finally! While it is still a seller’s market, it has eased up a bit. The average days on market in June was 11 days and the average list-to-sale price ratio was 102%.   

South Snohomish County real estate has been an affordable option compared to “in-city” real estate. In fact, the median price in June was 41% higher in Seattle Metro. Sellers are enjoying great returns due to buyers choosing to lay down roots in our area, and buyers are securing mortgages with minor debt service due to low interest rates. The easing of inventory is a welcome change and is helping to temper price growth. 

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you. 

Posted on July 19, 2018 at 4:19 am
Jill Langer | Category: Buying Homes, Economic Forecasts & Trends, Edmonds, Everett, Lynnwood, Mill Creek, Mukilteo, Selling Homes, South Snohomish County

South Snohomish County Quarterly Market Trends

It is the time of year when our market starts to take off. Spring is here and we are starting to see seasonal increases in inventory. In fact, there was a 47% increase in new listings in March compared to February. That increase was matched by a 48% rise in pending sales, illustrating very strong demand for housing in your area. Last month, the average list-to-sale price ratio (the amount the sale price topped the list price) was 103%, indicating that multiple offers were the norm. We ended the quarter with 0.5 months of inventory – the lowest level yet. More inventory would be absorbed by happy buyers looking for more selection and would help temper price growth, which is up 15% year-over-year.

South Snohomish County real estate has been a hot spot due to reasonable commute times and overall affordability compared to “in-city” real estate. In fact, the median price in March was 47% higher in Seattle Metro. Sellers are enjoying amazing returns due to this phenomenon, and buyers are securing mortgages with minor debt service due to low interest rates. This is a very strong seller’s market, but buyers who are securing a home are already enjoying appreciation in equity.

This is only a snapshot of the trends in south Snohomish County; please contact me if you would like further explanation of how the latest trends relate to you.

Posted on April 29, 2018 at 9:35 pm
Jill Langer | Category: Economic Forecasts & Trends, Edmonds, Everett, Lynnwood, Mill Creek, Mukilteo, South Snohomish County

Your Guide to Dining & Shopping in the Mill Creek Town Center

One of Mill Creek’s top attraction is the popular Mill Creek Town Center! “The city now has a mixed-use, city-sponsored complex called the Mill Creek Town Center…,” shares our own Travis DeFries. “It is easy to spend several hours walking the sidewalks and checking out the small, local businesses, along with the numerous wonderful restaurants.”

Indeed, with everything at your fingertips, it’s hard not to feel like you’re in the big city: “I love the convenience and the downtown feel of the Mill Creek Town Center,” says Ginna Demme. “I can grab my coffee, get a manicure, grocery shop, and run other errands all in the same great spot!” Tonya Tye agrees, noting “the Town Center is a fun place to walk around, go for coffee, dessert or dinner.”

Here is your complete guide to dining and shopping in the Mill Creek Town Center (as recommended by locals!):


Central Market Mill Creek

  • Located at 15605 Main St. Mill Creek, WA 98012
  • Hours: 7:00am-11:00pm

When it comes to grocery shopping in Mill Creek, no place beats the Town Center’s own Central Market. “Central Market is a destination grocery experience,” says Jen Bowman. “Best produce, delicious prepared foods for a quick and healthy meal, awesome sushi, and great floral selection for cut and potted plants and flowers.”

Heather Potts agrees, noting “Central Market Grocery Store has the best selection of fresh fruit, wine, seafood, meats, made-to-order sandwiches, fresh sliced deli meats and cheeses, a large selection of organic foods, sushi and more.” Follow Heather’s suggestions and “grab a bite to eat and enjoy the outdoor courtyard or stop to shop for a special dinner…” No matter what, you are sure to have a one-of-a-kind experience at this store that, as Heather simply puts, “has it all”!


Outdoor Concerts

  • Located at the Forum (15111 Main St. Mill Creek, WA 98012)
  • Hours: 6:00pm-8:00pm Wednesdays

There is much more to Mill Creek’s Town Center than just shopping, as Travis can tell you: “In the summer they have free outdoor concerts every Wednesday night from 6-8 PM. Bands that have played this year include Fabulous Roof Shakers, The Infinity Project, Big Dog Revue, High Voltage, Highway 9, Cherry Cherry, Sly Mr Y, Creme Tangerine and Ventura Highway Revisited.”

They have expanded this year’s series into September, so check out the Town Center events calendar for more info (and get your dancing shoes ready!).


Azul Restaurant & Lounge

  • Located at 15118 Main St. #100 Mill Creek, WA 98012
  • Hours: 11:00am-1:00am Monday-Friday (Dinner served until 10:00pm Sunday-Thursday, 11:00pm Friday-Saturday) ; 9:00am-1:00am (Brunch 9:00am-3:00pm)

Whether you’re looking to wind down after a long work week or want to take the family out to a nice dinner, Azul Restaurant & Lounge is an excellent choice: “Azul Restaurant & Lounge is located in the Town Center and is open for lunch and dinner each day,” shares Travis. “Its upscale, casual environment, paired with the Latin-inspired cuisine, makes Azul a perfect gathering spot in Mill Creek.”

Check out their popular Happy Hour menu, featuring $2.00 chips and salsa, drink specials, and some of the best Mexican and Caribbean dishes this side of the border.


University Bookstore Mill Creek

  • Located at 15311 Main St. Mill Creek, WA 98012
  • Hours: 9:00am-8:00pm Monday-Thursday; 9:00am-9:00pm Friday-Saturday; 10:00am-6:00pm Sunday

Back-to-school time is here again, which means it’s time to stock up on everything you will need to start the year off right. Luckily, Mill Creek Town Center is home to one of 6 local University Bookstores.

“UW Bookstore has great selection of gifts, UW apparel, and specialty magazines and newspapers,” says Jen. Indeed, whether you’re looking for a new book to read, some reference guides, or something to show off your Husky pride, you will find it and so much more here.


Elliott Bay Pizza & Pub

  • Located at 800 164th St. S.E. L Mill Creek, WA 98012
  • Hours: 11:00am-9:00pm

What could be better than pizza? How about pizza paired with 18 varieties of cold craft beer? Elliott Bay Pizza & Pub is a local favorite and go-to spot for Travis and his family. This family-friendly locale is open 7 days a week for lunch and dinner and features one of the best menus in the Town Center.

“They make their own special dough each morning to be used for their incredible pizzas and sandwiches,” says Travis. “They also serve a wide variety of great pasta dishes and salads.” While you’re here, be sure to take advantage of their beer selection, too: “They have also become very well known in the area for their extensive beer selection and ever-changing beers on tap,” Travis shares. “If you are looking for something not found everywhere else, you need to come here!” Indeed, Elliott Bay Pizza & Pub is one pizza place you will definitely not want to pass up.


Pacific Fly Fishers

  • Located at 1018 164th St. S.E. Ste. A-22 Mill Creek, WA 98012
  • Hours: 10:00am-7:00pm Monday-Friday; 10:00am-6:00pm Saturday; 11:00am-5:00pm Sunday

“If you’re a serious outdoorsman,” Becky Larsen states, “check out Pacific Fly Fishers. Expert service in your own backyard.” Indeed, everything from boats, flies, lines, and other fishing tools, to classes and water quality resources provided by passionate local fishers, gives you all you need to hone your skills and become a true master fisherman.


La Palmera Mill Creek

  • Located at 15224 Main St. #202 Mill Creek, WA 98012
  • Hours: 11:00am-11:00pm Sunday-Thursday; 11:00am-1:00am Friday-Saturday

Opened in 1991, La Palmera has been serving up delicious, authentic Mexican cuisine for 26 years. “La Palmera is a favorite Mexican restaurant,” Becky says. “Family owned and great food.” If you’re a fan of grande burritos, sizzling fajitas, and margaritas made with premium tequila, this restaurant is the place for you.


Hot Yoga Inc. Mill Creek

  • Located at 15217 Main St. Mill Creek, WA 98012
  • Hours: 6:00am-9:30pm Monday-Thursday; 6:00am-7:00pm Friday; 8:00am-5:00pm Saturday; 8:00am-6:30pm Sunday

If you’re looking to put a little more zen in your life, check out Hot Yoga Inc. This low-impact exercise routine works with your body’s natural range of motion to help you lose weight, de-stress, and become your best self.

As an added bonus, Heather shares that “Hot Yoga Inc. has a $10 new student 10/10 deal and [is] one of the only studios with infrared heating.”


Mill Creek Sports

  • Located at 13616 Bothell Everett Hwy. Mill Creek, WA 98012
  • Hours: 10:00am-6:00pm Monday-Saturday; closed Sunday

Local sports fans cannot seem to get enough of the new Mill Creek Sports, located just near the Town Center. “Just down the road is the location of the new Mill Creek Sports, which is known as one of the best sports memorabilia shops around,” shares Travis. “They outgrew their previous place in town and now have a huge 2-story facility to house their items.”

“Mill Creek Sports is known throughout the greater Seattle area as the place to go if you want sports memorabilia,” Brian Hayter notes. “They have an incredibly wide selection of authentic autographed Seattle and beyond sports items. A must see for a sports fan!” Travis agrees, adding that “several times per month they also bring in high profile current or retired sports stars to sign autographs. Anyone and everyone has been there to sign autographs!” Whether you’re looking for a gift or looking to meet your sports hero, you will love the offerings at Mill Creek Sports.


Posted on September 21, 2017 at 3:20 pm
Jill Langer | Category: City Guides, Mill Creek

Mill Creek

Welcome to Mill Creek! 

Located in Snohomish County and just about 20 miles northeast of Seattle, Mill Creek is a smaller community brimming with excellent amenities to take advantage of. Originally built around a country club and golf course that you can still enjoy today, Mill Creek offers a long list of city conveniences whether you’re looking for gorgeous outdoor opportunities or plenty of restaurants, shops, and activities close by.

In addition to the pristine Mill Creek Country Club and Golf Course, Mill Creek is brimming with ways to stay active. A long list of parks and an incredible trail system offers picturesque settings to enjoy, and parks and the incredible sports center will keep the whole family busy! Additionally, the Mill Creek Town Center is another top destination whether you want to have a delicious dinner out or spend the day shopping!

“Mill Creek officially incorporated on August 30th, 1983 and was built around the Mill Creek Country Club and its golf course. It currently has a population of just under 20,000 people. It is full of hiking/jogging trails throughout the wooded areas. The Country Club is a private club that has a gem of a golf course that people love to play!” –Travis DeFries


Getting Out & About

“There are some nice walking trails near the downtown area and around village green drive, many parks including a skateboard park. The towncenter is a fun place to walk around, go for coffee, dessert or dinner.” -Tonya Tye

“Central Market grocery store has the best selection of fresh fruit, wine, seafood, meats, made to order sandwiches, fresh sliced deli meats and cheeses, large selection of organic foods, sushi and more. Grab a bite to eat and enjoy the outdoor courtyard or stop to shop for a special dinner. This store has has it all.” -Heather Potts

“There is such a broad array of restaurants to choose from when meeting up with friends & clients. Something for everyone!” -Tonya Tye

“I love the convenience and the downtown feel of the Mill Creek Town Center! I can grab my coffee, get a manicure, grocery shop, and run other errands all in the same great spot!”-Ginna Demme

“One thing I also love about Mill Creek is all the doctors, walk in clinics and dentists that are in town. Super convenient to have so many health providers in close proximity.” -Jen Bowman

“Miles and miles of walking trails linking parks all over Mill Creek is one of my favorite features.” -Jen Bowman


Commuting from Mill Creek

Located just minutes from Interstate-5, Mill Creek is nestled in between Seattle and Everett. Mill Creek to Downtown Seattle is approximately 24 miles, while Mill Creek to Everett is just about 10 miles.


Homes in Mill Creek

“[Mill Creek is home to] nice planned single family and condo communities ranging from $500s and up in varying styles and ages.” -Tonya Tye


Want to learn more about living in Mill Creek?

Keep exploring on our blog:

 

Posted on September 19, 2017 at 10:18 pm
Jill Langer | Category: City Guides, Mill Creek, South Snohomish County | Tagged