Everett Real Estate Market Update: December 2018
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, November 2018:
Okay, now for comparison, let’s look at the month before that, October 2018:
From October to November, things certainly mellowed.
Prices dropped an average of $5,000.
Homes took an average of six more days to sell.
Two fewer homes sold.
We should acknowledge that October does have 31 days in its month whereas November has 30 days. So even though November slowed, when you account that its a shorter month the small changes are even smaller.
For a broader comparison, let’s take a look at this time last year, November 2017:
As per usual, here’s where we observe more significant changes. From November 2017 to November 2018, comparing month over month:
Prices increased an average of $31,000.
Homes took an average of five days longer to sell.
55 fewer homes sold November of this year compared to November of last year.
Even though prices are still up considerably compared to last year, the fact that less homes are selling and taking longer to sell month over month tells us we’re still in a slowing market. Predictions about the future of the market are quite mixed. Many are predicting 2019 will be another boom year, whereas many others are predicting a decline. Time will tell.
One thing is for sure- if you’re ready to buy, sell or have any questions about real estate we’re here to help anytime! Don’t hesitate to contact us.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.