Everett Real Estate Market Update: May 2019
Hip hip hooray, it’s officially May.
Every month we like to take a look at how the Everett real estate market is trending,* so let’s jump in and check out last month’s numbers for April 2019:
For comparison, let’s compare that to March 2019:
From March 2019 to April 2019:
The averages sales price increased from $398,000 up to $405,000 (about a 1.8% increase).
The average number of days on the market decreased from 33 to 20, which means homes sold about 39% faster!
The average number of homes sold increased from 155 to 184 (a 19% increase).
Wow. Any one of those above stats point toward a strengthening market, but all three combined? Spring truly has sprung, and the Everett market seems to agree. After months of small decreases or nominal changes, this is probably the strongest indicators of an improving market we’ve seen for a number of months.
For a broader perspective, let’s compare to this time last year, April 2018:
From April 2018 to April 2019:
Average prices went from $400,000 up to $405,000 (an average increase of $5,000).
The average number of days on the market increased from 12 days to 20 days (which means homes sold 67% slower).
The average number of homes sold decreased from 228 to 184 (a 19% decrease).
Year over year, prices increased slightly, but days on market and homes sold has actually slowed considerably. Even though the market is still very strong, it’s nice to see indicators pointing toward more stability.
This is the time of year where things can really start increasing rapidly, though. Will the hype increase through the Spring? We’ll be back next month to keep you updated.
In the meantime, we’re here to help. If you have any questions about local real estate, feel free to contact us anytime, or stop by our office at 1904 Wetmore Ave Everett, WA 98201. We’d be happy to help you navigate the Everett-area market, it’s what we’ve done for over 30 years!
Thanks for reading.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.