Everett Real Estate Market Update: March 2021
Happy March!
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, February 2021:
For comparison, let’s look at the previous month, January 2021:
From January 2021 to February 2021:
Prices increased an average of $19,000 per home.
Average days on the market decreased from 18 to 16.
The number of homes sold decreased by 22.
Comparing month over month, prices jumped back up to about the $500k mark we were at in December. With homes selling slightly faster, but fewer homes selling overall, it looks like demand is only increasing as buyers choose from the limited available supply of available homes.
For a broader perspective, let’s compare to this time last year, February 2020:
Comparing February 2020 to February 2021:
Prices increased $71,000.
Average days on market decreased from 20 to 16.
The number of homes sold decreased by 4.
As we’ve seen in many recent year-over-year comparisons, prices took a remarkable leap; increasing nearly 17%. Homes sold about 20% faster this year than they did this time last year. And the number of homes sold barely changed, as February (winter) historically has low inventory.
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!
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*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single-family homes and condos.
