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Everett Real Estate Market Update: February 2019

Everett Real Estate Market Update: February 2019

Happy February!

Each 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, January 2019:

(Please note, at a later date we noticed a discrepancy in the numbers that were reported below for January 2019. Although the statistics we pull from the NWMLS are deemed reliable, they are not guaranteed. Please refer to our March 2019 update for more accurate numbers for January 2019.)

Update_Jan2019_January 2019.png

For comparison, let’s compare that to the previous month, December 2018:

Update_Jan2019_December 2018.png

From December 2018 to January 2018:

  • The number of homes sold decreased about 24%.

  • Average days on market barely changed, increasing from 41 to 42.

  • The average price dropped $22k from $393k down to $371k, about a 5.6% drop.

Wow, that’s the largest drop in price we’ve seen in a while. Although January is a historically slower month in general. For a broader comparison, let’s compare to this time last year, January 2018:

Update_Jan2019_January 2018.png

Comparing January 2018 to January 2019, homes took 50% longer to sell this year and the average price this January ($371k) actually dropped lower than January 2018’s average price ($374k). We’ve been observing the market slightly decrease for the last number of months, but this is the first time we’ve seen prices dip below their previous years average.

If prices continue to trend downward, now may be the perfect time to sell if you’ve been on the fence. Feel free to contact us anytime with any real estate related questions. Or stop by our office at 1904 Wetmore Ave Everett, WA 98201. We’re here to help!

Learn more on our website, or subscribe to our monthly newsletter to get these real estate updates and fun community info sent straight to your inbox!

*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.

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