Everett Real Estate Market Update: July 2020
Happy July, it’s officially Summer! ☀️🌸⛱
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, June 2020:
For comparison, let’s look at the previous month, May 2020:
From May 2020 to June 2020:
Prices increased an average of $17,000 per home, a jump of about 3.8%.
Average days on market increased from 11 to 19.
The number of homes sold increased over 66%, from 127 to 211.
Overall, the market seems to be picking up. Even though homes took about a week longer to sell on average, the fact that so many more homes sold overall is a strong sign. And the fact that prices jumped $17k per home on average shows just how motivated buyers are to still buy in the current market.
For broader perspective, let’s compare to this time last year, June 2019:
Comparing June 2019 to June 2020:
Prices increased from $449,000 to $464,000.
Average days on market increased from 17 to 19.
The number of homes sold decreased from 234 to 211.
Compared to this time last year the market has not changed too significantly. Homes are selling on average in about the same amount of time. Though 33 fewer homes sold this year compared with last year, that’s likely only because fewer homes were available for sale this year. Prices did increase this June by about $15,000 on average per home; an average increase of about 3.3%.
Once again, despite the pandemic, buyers are still anxiously looking to buy. If you’re thinking about selling 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.
