Everett Real Estate Market Update: January 2020
Happy New Year!
Every month we like to take a look at how the Everett real estate market is trending.* Let’s take a look at last month’s numbers, December 2019:
For comparison, let’s look at the previous month, November 2019:
Some interesting changes. From November 2019 to December 2019:
Average sales price increased $21,000. A 5.2% increase.
The number of homes sold dropped from 181 down to 167.
Average days on market went from 27 down to 26.
Price increases seemed to be the biggest change as they jumped back up to $425,000. The same average sales price we were seeing back in September; before a couple months of declining prices.
For broader perspective, let’s compare to this time last year, December 2018:
Comparing December 2018 to December 2019:
Prices increased from $393,000 up to $425,000. A $32,000 average increase, or 8.1%.
Average days on market went from 41 down to 26. Meaning homes sold an average of 37% faster this December
The number of homes sold increased, going from 155 to 167.
All indicators point toward a considerably stronger market this December. After having seen decreases in the market in the previous couple months, it will be interesting to see how things go in 2020.
Many are speculating this may be the year the market finally gives; which could make the perfect time to sell. Of course, if you’re on the fence about buying and we continue to see 8.1% increases each month, it may be time to get off the fence. An appreciating asset that puts a roof over your head is not a bad investment. Historically, home values have increased about 5% a year. Just look at what prices were 30 years ago!
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!
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*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single-family homes and condos.
