Everett Real Estate Market Update: August 2021
Happy August!
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, July 2021:
For comparison, let’s look at the previous month, June 2021:
From June 2021 to July 2021:
Prices decreased an average of $31,000 per home.
Average days on the market barely changed, going from 8 to 9.
The number of homes sold decreased by 25.
Overall, from June to July the Everett market cooled down a bit. Which feels like a more sustainable direction considering how rapid some of the recent increases have been. The biggest change was average home prices dropping by over $30,000 per home, which is over a 5% drop.
For a broader perspective, let’s compare to this time last year, July 2020:
Comparing July 2020 to July 2021:
Average prices increased $89,000 per home.
Average days on the market decreased from 20 to 9.
The number of homes sold increased by 12.
As always, we see the biggest changes comparing year over year. Most notably, average prices increased by over 18%. And homes this July sold over twice as fast as they did last July. There is much speculation if the market will take a downturn. Could July’s market stats be an indicator of things to come? Only time will truly tell, but we’ll be back next month to keep you updated.
If you’re thinking about selling while demand is still high, contact us anytime. We’re here to help.
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.
