Everett Real Estate Market Update: August 2017

Happy August! Every month we like to take a gander at how the Everett real estate market is trending*. Let's take a look at last months numbers, July 2017:

OK. Cool cool cool. For comparison, lets check out the prior month, June 2017:

The average price of homes went up $12,000 from June to July. Pretty big jump in one month. What's interesting is the average number of days on market slowed from 9 days up to 16. Also, less homes sold overall from 267 in June to 245 in July.

For some broader perspective, lets take a look at last years numbers, July 2016:

Here's where we see the bigger changes. The average sales price went up $46,000 from July 2016 to July 2017. That's over a 13% increase in 1 year! The number of days on market stayed almost exactly the same, going from 17 down to 16. Here's the crazy part, the exact number of homes sold in July 2016 as they did in July 2017. Both months, 245 homes sold. What are the odds of that?

All in all, the Everett market seems to be continuing its steady upward trend, with no end in sight.

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*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.