Everett Real Estate Market Update - February 2017
Holy cow, it's February. How did that happen? Wasn't New Years just like last week? Sheesh. We guess it's time for another Everett Real Estate Market update*. Let's check out last months' numbers, January 2017:
Okay, now, for reference, let's gander at numbers from the month before that, December 2016:
Wow. From December '16 to January '17 the average sales prices in Everett dropped $24,000. That's about a 7% decrease in a single month. That's the biggest drop we have seen in a while. Welcome to the winter/holidays!
January is notoriously slower in real estate, as most closed sales are initiated the month prior (closing usually take around 4-6 weeks). So when everyone is busy shopping for that pet rock or knitting stockings for Suzy, there are less people looking to buy and sell real estate.
Further affirming this fact, just check out the sales from the same month last year, January 2016:
Almost spooky, the average sales price in Everett from January 2016 to January 2017 only changed by $1,000. The average days on market has gone from 45 down to 32 (a sign of homes selling considerably faster), and the number of homes sold has increased from 117 up to 128.
So not huge changes...which is actually a tad refreshing considering slow increases are healthier and more sustainable than rapid ones. We do expect market activity to increase as we head towards Spring.
A SOLD STORY
These first time buyers beat out the competition!
Despite the market being slower in January, we did have the pleasure of helping some wonderful folks purchase this home in the Northwest Neighborhood. The home was priced under value and had multiple buyers fighting for it.
By crafting a highly competitive offer and our buyers working closely with one of our preferred lenders (who also happens to be a current sponsor of Live In Everett), we we're able to win out and still get a fantastic deal for these first time home buyers.
We're so happy they chose to buy their first home in Everett. Welcome to the neighborhood (even though they were already renting here...now they're stuck with us 😉)!
DO YOU HAVE A QUESTION ABOUT EVERETT REAL ESTATE?
Feel free to contact us anytime. We're here to help.
We offer real estate services, info on Everett neighborhoods, and a free weekly newsletter all about the good things happening in Everett.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.
Happy Living ✌️,
Garret + Tyler
Everett Advocates + Realtors
Garret and Tyler are the founders of Live in Everett.They play racquetball three times per week (Tyler always wins, but only because he has longer arms) and they sell real estate.
