Everett Real Estate Market Update February 2022
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 2022:
For comparison, let’s look at the previous month, December 2021:
From December 2021 to January 2022:
Prices decreased an average of 9,000 per home.
Average days on the market increased by 4 to 18.
The number of homes sold decreased from 167 to 107.
Comparing month over month, average prices dipped slightly and homes took slightly longer to sell. Perhaps most notably, fewer homes sold overall; about 36% fewer. We are in a historically slow time of year for real estate sales, while spring is really when things tend to pick up.
For a broader perspective, let’s compare to this time last year, January 2021:
Comparing January 2021 to January 2022:
Prices increased $100,000.
Average days on market stayed the same at 18 days.
The number of homes sold decreased from 151 to 107.
Reviewing the year over year changes, prices went up $100,000 on average, or about 21%. Wow, not too shabby. It’s interesting to note that average days on market stayed the same, and that the biggest change was actually fewer homes selling overall, about 29% fewer. As we’ve seen in recent months, fewer homes selling overall is likely directly connected to the available levels of inventory.
If you’re thinking about buying or selling in 2022, contact us anytime. 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.
