Everett Real Estate Market Update: December 2020
Happy December,
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, November 2020:
For comparison, let’s look at the previous month, October 2020:
From October 2020 to November 2020:
Prices increased an average of $14,000 per home.
Average days on the market increased from 12 to 13.
The number of homes sold decreased from 254 to 213.
While prices did increase in November, the market seems to be settling down. Which is common as we transition into the holidays. 41 fewer homes sold in November, a decrease of about 16%. After many months of active sales, it’s no surprise to see fewer homes available during the winter. This decreased supply drives the slight increase in price. Even during holidays, there are always still motivated buyers!
For a broader perspective, let’s compare to this time last year, November 2019:
Comparing November 2019 to November 2020:
Prices increased from $404,000 to $494,000.
Average days on market decreased from 27 to 13.
The number of homes sold increased from 181 to 213.
Comparing year over year shows a rapidly improving market all-around. More homes sold, and they sold over twice as fast. The most remarkable change, though, were prices. Average home prices increased by $90,000. That’s an increase of over 22%! That may be the biggest we’ve seen yet.
If you’re thinking about buying or selling, 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.
