Everett Real Estate Market Update: August 2020
It’s August! Which means the sun is shining and it’s time for a new Everett market update.*
Let’s take a look at last month’s numbers, July 2020:
For comparison, let’s look at the previous month, June 2020:
From June 2020 to July 2020:
Prices increased an average of $20,000 per home, a jump of over 4%.
Average days on market increased ever-so-slightly from 19 to 20.
The number of homes sold increased about 9%, going from 211 to 230.
The market seems to continue picking up steam. July’s $20,000 average price increase was actually the biggest price jump we’ve seen in a single month since January. A seller’s-market likely and ironically driven by reluctant sellers keeping supply low while demand for local housing continues to increase.
For a broader perspective, let’s compare to this time last year, July 2019:
Comparing July 2019 to July 2020: prices increased $69,000 on average. That’s nearly 17%!
Average days on market increased from 18 to 20.
The number of homes sold increased from 218 to 230.
Once again, price is the major increase here. Nearly a $70,000 jump per home on average in a single year! Or about 17%. That’s big. Many home-owners have likely made more in home equity this last year than they’ve earned from their job. Pretty wild.
Whether it’s time for you to get in on the housing market, or list your home for sale, 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.
