Everett Real Estate Market Update: November 2021
Happy November!
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, October 2021:
For comparison, let’s look at the previous month, September 2021:
From September 2021 to October 2021:
Prices increased an average of $40,000 per home.
Average days on the market increased from 10 to 14.
The number of homes sold decreased from 242 to 211.
While month over month fewer homes sold and at a slower pace, average prices still went up considerably. A $40,000 average price increase over a single month is no small increase. As fewer homes hit the market in the off-season, buyers are likely being more discerning but are clearly still motivated.
For a broader perspective, let’s compare to this time last year, October 2020:
Comparing October 2020 to October 2021:
Prices increased $114,000!
Average days on market increased from 12 to 14.
The number of homes sold decreased from 254 to 211.
Year over year comparisons clearly reveal much bigger changes with average home prices alone increasing nearly 24%. And just like we saw in the month-over-month comparisons, homes took slightly longer to sell and few homes sold overall. This reaffirms the trend we’re seeing of buyers being a bit more discerning, but just as motivated.
If you’re thinking about selling while the market is still strong, 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.
