Monroe, Snohomish city, Duvall and Sultan market update
In 2021 we were starting to see many people transition to moving from the bigger cities in Washington to more rural areas in the Snohomish County communities like Monroe, Sultan, Duvall, and Snohomish city. In a blog I wrote in May 2021 Washington's Rural Communities I addressed how Snohomish saw an increase of over 10% in sale prices, with an average of seven days on the market. And while housing prices are rising in smaller cities, you also get more bang for your buck than buying in the bigger cities like Seattle. In 2022, the trend continues. I investigated the average appreciation of some cities in Snohomish County and wanted others to see how much they have appreciated in April 2022.
What is the average appreciation for homes in Monroe right now?
In December 2021, the average appreciation for Monroe homes was 25.1%. March update: was average appreciation of 26.6%. That is a 1.5% increase within the past 3 months. And now in April we are looking at 30.1%. As you can see, the number is consistently going up. Monroe is already at a 5% increase since December 2021.
What is the outlook of 2022 in Monroe?
Judging by 2021, we saw an appreciation in specific locations across Monroe from 17% to as high as 54%. With it still being a sellers’ market, it’s shaping up to look like Monroe could be within the 18% to 20% appreciation range in 2022. And with things like a new non-motorized shared path and new developments constantly being built like Wild Sky Estates it is no wonder Monroe has been an ongoing growing community
What is the average appreciation for homes in Snohomish city right now?
Snohomish city, known to be very charming, and considered to be very beautiful is mentioned to be the "Antique Capital of the Northwest" according to Google search. Snohomish city has been consistently growing as much as other locations in the Snohomish cities. And not only have many people continued to move into Snohomish city but home values have continued to grow as well. In fact, as of April 2022 the average appreciation for Snohomish city homes is 27.8%
What about Duvall?
What is the average appreciation for homes in Duvall right now?
Duvall can be recognized to have several Running Trails in this charming city and is located on SR 203 halfway between Monroe and Carnation. Duvall has shown a lot of promise in expansion. One of them being The Ridge at Big Rock. The Ridge at Big Rock is known to be "a breath of fresh air in Duvall" and is "inspired by the natural beauty of the area" The Ridge at Big Rock has several beautiful new construction homes that range between $992,495 - $1,474,995. New construction like this as well as other new homes has been bringing more people into Duvall city. And in return has brought up home appreciate in Duvall. As of April 2022, the average appreciation for Duvall homes is 20.8%
What is the average appreciation for homes in Sultan right now?
Sultan, known for being a very quiet and nice town has grown throughout the years. In a recent Google search,
Some 800 new houses are planned over the next five years in Sultan alone. City planners point out they are mandated by the state to allow growth. In Sultan's case, that means increasing the population from 5,000 to 8,400 in 15 years.
As of April 2022, the average appreciation for Sultan homes is 24.2%
What is the average appreciation for homes of all four cities?
From new developments being built, to many more people packing up and leaving the bigger cities to move a little further out, these four cities specifically has been showing a lot of promise for home growth. I only see it getting better as the years continue. Several homes have sold over asking. Monroe specifically has had homes sold up to 33% above asking to be exact.
No better time than now to consider moving further out! Consider Monroe, where this community grows more and more each year! Consider looking further than the city. In a blog I wrote in October 2021, Snohomish County Continues to Grow, I expressed how I felt regarding more and more people choosing to move further out of town to get not only more land but more house for their money. Also, it is less competitive, with fewer home buyers competing than in the cities. More home buyers most certainly drive up the house prices. But why stay in the city? The pandemic affording many people to work at home has permitted this migration to the suburbs. We see signs from many tech companies that remote work (at least in part) will be here to stay. By not having to drive into the city as often, residents have more freedom to buy more house, more land and enjoy the space that municipalities farther out in the county offer.
There are seveal cities in the Snohomish county area, from Lake Stevens, Everett, to Mill Creek. If you want to find out how much your city has appreciated, whether it be in Snohomish County, King or Skagit, please contact me and I would love let you know.