Everett Real Estate Market Update: February 2021
Happy February!
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, January 2021:
For comparison, let’s look at the previous month, December 2020:
From December 2020 to January 2021:
Prices decreased an average of $21,000 per home.
Average days on the market decreased by 7 days to 18.
The number of homes sold decreased from 207 to 151.
Comparing month over month, prices dipped about 4%, bringing average home prices back below the half-a-million-dollar threshold. The biggest dip, though, was the number of homes that sold in January. The volume of home sales dropped over 27% from December. Likely a reflection of not many new listings coming on the market around the holiday season. This decrease in supply clearly increased demand, with homes selling about 25% faster in January.
For a broader perspective, let’s compare to this time last year, January 2020:
Comparing January 2020 to January 2021:
Prices increased $77,000.
Average days on market decreased from 26 to 18.
The number of homes sold increased by 55.
Reviewing the year over year changes, as we’ve seen in many recent months, prices took a significant leap of over 19%. Average days on the market decreased nearly 31%. And the number of homes sold increased a whopping 57%. With local homes selling faster, for more money, and in higher quantity, there is no doubt that the Everett market has greatly increased over the last year.
If you’re thinking about selling while demand is high, 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!
Learn more on our website, or subscribe to our monthly newsletter to get these real estate updates and fun community info sent straight to your inbox!
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single-family homes and condos.
