Arlington WA Real Estate Market

Arlington WA Real Estate Market, home sites on acreage including Northwest Snohomish County

Much of the Arlington WA Real Estate Market and the Stanwood WA market include home sites on acreage. To sellers and buyers in this market, it is somewhat of a mystery. Sellers don’t want to leave any money on the table selling short and buyers don’t want to overpay for a home. There are more extenuating approaches to value when homes are on acreage, than homes in typical neighborhoods. When determining the market value, consideration of location to shopping and work, timber, usable acreage, privacy, and views play a large part in the market value. Acreage home sites sitting on a bluff with a view could generate an increase in value between twenty to fifty thousand dollars. Homes with usable acreage for horses bring a different value than acreage with partial wetlands. To see an accurate view of the local market, we have prepared this “behind the scenes” article with the most accurate information pulled from our local MLS. We have added our comments to some of the graphs, but most of the graphs are self-explanatory. The following graphs are made using the Arlington WA real estate market including Northwest Snohomish County.

Generally news articles and media reporting of real estate trends in the Northwest use the Seattle area for reporting. Our local market gains do not compare to the Seattle real estate market which commonly run much higher than the Arlington, Stanwood areas. The good news is home sites on acreage in the Arlington WA Real Estate Market are beginning to appreciate at a steady gain. The graph below shows a gain from April 2013 to April 2014 of approximately 5.75%.  An average appreciation rate of between 5 to 6 percent per year over a ten year period is normal.

past 2 years homesites sold price vs active listings

Taking a look at the number of active listings on acreage from the data below, we can see April 2013 had the lowest amount of active listings in the past 5 years due in all probability of sellers waiting for a gain in appreciation. We also notice the months of August and September have the highest number of listings as sellers push to sell before winter and the holidays. As the number of listings rise, prices begin to drop due to the competition  in the market. As you can see from the data below, it seems many sellers were trying to escape the declining values  in 2008, as the number of active listings rose in 2009 and 2010 putting even more pressure on the Arlington Real Estate Market causing the value of home sites to decline even further.

Acerage homesites past 5 years active listings

The era of Short sales

With the collapse of the Arlington Real Estate market, along with the rest of the country, an old term came back into existence. Short Sale, selling for less than what is owed. As the market plummeted downward, many owner having to sell due to job loss, having to move, or financial difficulties were forced to sell for less than was owed on their homes. As the market dropped the amount of short sales rose causing an even further decline in the values. This was a new era for financial institutions, who either coped with the loss or received the property back thru foreclosure becoming bank owned or the term, REO..real estate owned. As we approach mid year for 2014 we can see short sales coming in line with the market. The graph below shows the amount of short sales entering the market slowing with values moving upward.


BANK OWNED (REO) Properties on the decline

With home values on the rise, the amount of bank owned home sites entering the market are slowly declining. Many homeowners are now seeing a break even point or a small gain when selling their home. Waiting out the real estate collapse, these homeowners have retained their credit standing, and are now able to pursue their options, entering back into the real estate market without negative consequentions. There will always be bank owned properties thru foreclosure, but the few that come into the market will not cause a drastic decline in home values as we have seen in the previous years.

bank owned market report TOTAL

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  1. I enjoyed your article, Are you going to have an update soon on this years market? I subscribed to your market snapshot and found it a great help for searching for homes and the market. I’ll contact your office when we are ready to buy. Thanks