Everett Real Estate Market Update: May 2020
Happy May!
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, April 2020:
For comparison, let’s look at the previous month, March 2020:
From March 2020 to April 2020:
Prices rose by an average of $11,000/home.
Average days on market decreased from 16 to 14.
The number of homes sold decreased from 152 to 126.
Despite the Covid-19 epidemic, once again, prices increased and homes sold faster in April. Even when the world is closed, it’s still moving! Fewer homes did sell overall, an indicator of not as many active listings available.
For broader perspective, let’s compare to this time last year, April 2019:
Comparing April 2019 to April 2020:
Prices went from $405,000 to $449,000.
Average days on market decreased from 20 to 14.
The number of homes sold decreased from 184 to 126.
In this year-over-year comparison, we once again see homes selling faster and for more money. Homes sold 30% faster and for an average of $44,000 more. Fewer homes sold overall; about 30% less. Isn’t that a coincidence? 30% fewer homes sold, but the homes that did sell, they sold 30% faster for about 10% more money. Now just might be the perfect time for sellers to list.
If you’re thinking about selling or buying feel free to 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.
