Everett Real Estate - Market Update, August 2016

Happy August, ya'll. At the beginning of each month we like to review how the Everett real estate market is doing*. Lets take a look at last months results, July 2016.

July's Numbers:

Now lets compare those to the previous months numbers,
June 2016:

In July we saw just a slight uptick in prices from the previous month, and the number of days on market was very similar. The biggest change was the number of homes sold; an increase of nearly 10%.

A 10% increase in the number of homes sold in Everett in July is actually nor surprising when we glance at the inventory levels. Inventory levels in July also increased approximately 10%. A sign more seller's are responding to the high buyer demand, and that buyer demand is holding strong considering prices still went up slightly.

We're certainly still in a seller's market, but with the historically low interest rates, it's no surprise buyer's are still rightfully motivated.

Lets see how July's numbers compare to the same month last year-
July 2015:

Here's where we see more extreme changes in price and the average number of days on market. Year over year, the average sales price in Everett has gone from $306k to $331k; a $25,000 increase. The average days on market has gone from 33 down to 17. Wow! Cut almost as perfectly in half as a tortilla breakfast from the Sisters Restaurant.

These numbers reflect exactly what we're seeing when we're working with buyers and sellers in the Everett area. Despite the uptick in inventory, things are selling fast, especially homes that are priced right.

If you're thinking about buying or selling in the Everett area, make sure you check out our real estate services, or feel free to contact us anytime. We're here to help.

Happy Living,

Garret + Tyler
Everett Advocates + Realtors
G: 425-308-1888 / T: 425-344-1727

*Stats provided by the Northwest Multiple Listing Service