Everett Real Estate Market Update: May 2021
Hey, it’s May!
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, April 2021:
For comparison, let’s look at the previous month, March 2021:
From March 2021 to April 2021:
Prices increased an average of $7,000 per home.
Average days on the market decreased from 11 to 7.
The number of homes sold increased by 35 or 20%.
Even after seeing a monumental price jump in April 2021 to $543,000 (which was an increase of $44,000 since March 2021) prices are still trending upward. Perhaps even more notable in April, homes sold 36% faster, and that’s even with 20% more homes selling overall. Through and through, market demand only seems to be increasing. Exorbitant lumber prices and supply issues on new construction are surely only adding fuel to that fire.
For a broader perspective, let’s compare to this time last year, April 2020:
Comparing April 2020 to April 2021:
Prices increased $101,000 or 22%
Average days on market decreased by 50%.
The number of homes sold increased 68%.
Comparing year over year, yet again all signs are pointing toward an increasing market. Buyer demand only seems to increase as prices rise and homes sell faster. Interest rates are still near historic lows, which is one factor likely contributing toward buyer demand.
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.
