Are the kids back to school already? Sheesh. Time keeps on moving, just like the real estate market. Each month we like to gander at how the Everett market is trending*, let's start with last months numbers, August 2018:
For comparison, let's take a look at the previous month's numbers, July 2018:
For the third month in a row, it looks like the Everett market has continued to soften. From July 2018 to August 2018:
Home prices dropped an average of $5,000
Homes took an average of four more days to sell
12 less homes sold overall
May was the height of the Everett market this year so far, with the month setting a record high average sales price of $423,000. Over the last three months that average sales price in Everett has dropped by $15,000, or 3.5%. Not a large decrease, but certainly a different trend than we had been observing for many months and years prior.
For broader perspective, let's look at this time last year, August 2017:
The Everett market's average sales price is certainly still up considerably year over year; having increased an average of $42,000 this year. The number of days on market slowed a bit this year going from 17 up to 19 days on market. The number of homes sold this August went down quite a bit as well: 282 homes sold last August in Everett whereas this year there were only 207.
Even though the market is softening, it's certainly still up over previous years. If you’re considering making a move, don’t hesitate to contact us anytime.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.