Since 2015, Marysville has continued to be recognized as one of the fastest growing cities in the US, with populations between 50,000 to 100,000. We have seen a massive increase and demand for housing in our city. Marysville has been growing at an average rate of 2.27% per year for the last three years and adding just under 1,500 residents every year, reaching a population of 67,626.
Marysville has become the hot market to find affordable housing. Investors and first-time home buyers are recognizing that Marysville has a lot to offer at a very good price. The median sales price for a home in the area in 2017, end of January, was $325,000 compared to this years median home price of $348,725. Compare that with the median home price of $542,000 in South Snohomish County, and you instantly realize why people are considering the Marysville housing market more than ever.
Last month in a three city area of Marysville, Arlington and Stanwood, real estate brokers added 167 new listings and reported 248 pending sales. On any given day, Marysville is seeing between 40 and 57 total active listings for buyers to select from.
This massive shortfall of available housing in the Marysville market will continue to drive up prices and create headaches for buyers competing for available listings. According to the National Association of Realtors, a balanced market has between 4-6 months of inventory. Currently we have .97 months of inventory available. We are in a serious sellers market.
We are seeing an early surge of springtime home buyers. This is a result of the Federal Reserve not increasing interest rates when they met last month. Home buyers believe the Federal Reserve will increase interest rates during their next meeting in April, and are in a heated rush to purchase before interest rates increase.
There are four factors that are driving the Marysville housing market skyward: the first- time home buyers, the second- time home buyers, and empty nesters and investors who are focused on taking advantage of low interest rates and affordable prices.
Today is a great day in real estate!
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