MARYSVILLE, Wash. — The Northwest Multiple Listing Service shows the housing market in Marysville is red hot. Last year, a major portion of the city reported the highest number of brand-new homes sold in all of Washington.
But despite how it may appear, the added supply is not bringing home prices down.
"In the last 180 days, 310 new construction homes have come on the market," said Crystal Dickerson, a senior broker with Tanya Mock Real Estate in Snohomish.
Out of that group of new homes, 87% have gone pending or sold, according to the Northwest MLS.
"That’s higher than normal. That is a lot higher than normal," said Dickerson.
So what can that tell us?
Dickerson said, "We really do have a housing shortage."
She said the average "for sale" price in Marysville has jumped by more than 16% in just one year. She added, "I don't see home prices dropping anytime soon."
One reason, she says, is the broader return-to-office movement. Companies like Amazon will soon start requiring their employees to be in the office five days per week. Because of this, she said people who moved far away during the pandemic now want to be closer to the I-5 corridor.
"We are seeing a lot of people migrating up north just because of that affordability," Dickerson said. "The further north you go, the further your dollar goes.”
Another reason she mentioned was how high interest rates don’t seem to wanna budge.
"We are seeing buyers just tired of waiting," said Dickerson.