Everett Real Estate Market Update: January 2021
Happy New Year!
Every month (and especially every year!) we like to look at how the Everett real estate market is trending.* Let’s take a look at last month’s numbers, December 2020:
For comparison, let’s look at the previous month, November 2020:
From November 2020 to December 2020:
Prices increased an average of $7,000 per home.
Average days on the market increased by 13 days to 25.
The number of homes sold decreased slightly from 213 to 207.
December average prices broke the $500k threshold, but perhaps the most notable change was the average ‘days on market’ increasing almost 100% in December. This means homes took nearly twice as long to sell than they did in November. 25 days on market is the longest average we’ve seen in a while. Since January 2020, to be exact, when ‘days on market’ was at 26. The holiday season is typically a slower time of year for home sales.
For a broader perspective, let’s compare to this time last year, December 2019:
Comparing December 2019 to December 2020:
Prices increased $76,000.
Average days on market decreased from 26 to 25.
The number of homes sold increased by 40.
Reviewing the year over year changes, prices took a remarkable leap; increasing nearly 18%. Average days on the market didn’t budge much, but the number of homes sold increased by almost 25%. Pandemics and holidays aside, this market just keeps on picking up steam.
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.
