Everett Real Estate Market Update: November 2020
Happy November!
Every month we like to look at how the Everett real estate market is trending.* Let’s take a look at last month’s numbers, October 2020:
For comparison, let’s look at the previous month, September 2020:
From September 2020 to October 2020:
Prices decreased an average of $18,000 per home.
Average days on the market decreased from 16 to 12.
The number of homes sold decreased from 278 to 254.
After months of rapid increases, this is the first month in a while that we’ve seen the market mellow. This is par for the season though as we’ve transitioned into fall. Not to mention recent news around job loss at Boeing, Everett’s largest employer. Homes did sell on average about 25% faster, showing that even though fewer homeowners may be wanting to sell, buyer demand is still high.
For a broader perspective, let’s compare to this time last year, October 2019:
Comparing October 2019 to October 2020:
Prices increased from $417,000 to $480,000.
Average days on market decreased from 28 to 12.
The number of homes sold increased from 168 to 254.
Comparing year over year shows large increases all-around. Average home prices increased over $60,000; a price increase of over 15%! Homes sold over twice as fast, and over 50% more homes sold. Wow! You can really see just how much the Everett market has increased over a single year.
If you’re thinking about selling while the market is still strong, contact us anytime. We can work with you utilizing social distancing techniques that’ll keep you just as healthy as our 30+ year track record of selling local real estate!
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*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single-family homes and condos.
