Happy November, friends.
Every month we like to take a look at how the Everett real estate market is trending.*
Let’s kick things off with last month’s numbers, October 2018:
Okay, now for comparison, let’s look at the month before that, September 2018:
From September 2018 to October 2018:
The number of homes sold went from 193 down to 175, about a 10% decrease in overall sales.
The average days on the market went from 21 days up to 26 days, meaning homes sold about 20% slower in October.
The average sales price hardly changed at all, going from $401k up to $402k.
For broader comparison, let’s take a look at this time last year, October 2017:
As always, here’s where we see a bigger difference. Comparing October 2017 to October 2018:
The number of homes sold went from 247 last year down to 175 this year, a decrease of about 30%.
Average days on the market went from 24 days last year up to an average of 26 days this year, showing just a slight slow down in market time.
The average price went from $365k last year up to $402k this year, meaning prices are still up about 10% right now comparing month over month.
The Everett market is quickly shifting from a strong seller’s market to becoming more balanced as demand diminishes and rapid price increases from sellers have turned into price decreases.
Have questions? Don’t hesitate to contact us anytime.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.