Everett Real Estate Market Update: March 2019

Happy March!

Each month we like to take a look at how the Everett real estate market is trending.* Brought to you by our friends at Lamoureux Real Estate.

Let’s kick things off with last month’s numbers, February 2019:

For comparison, let’s compare that to the previous month, January 2019:

(Please note: when pulling numbers for this month’s update we noticed a discrepancy from the numbers that were reported in our last update for January 2019. The above numbers have been triple checked to ensure they’re now accurate. Although the statistics we pull from the NWMLS are deemed reliable, they are not guaranteed.)

Lamoureux Real Estate recently listed this 4 bed, 2.5 bath home in the View Ridge neighborhood for $462,000.

From January to February of this year:

An additional 39 homes sold, an increase of over 31%
Days on market sped up by two days, dropping from 42 down to 40 days for average time on market.
Perhaps most noticeably, the average price went from $383k up to $398k, a jump of $15k or nearly 4%.

After a number of months of decreasing prices, home values and demand seem to be picking up. For a broader comparison, let’s compare to this time last year, February 2018:

From Feb 2018 to Feb 2019:

25 fewer homes sold going from 189 down to 164.
Homes took an average of 15 days longer to sell (going from 25 days on market up to 40 days on average).
The average price of homes didn’t change much, increasing $3,000 on average going from $395k up to $398k.

Even though the market has been trending down in recent months, things appear to be stabilizing here in Everett. Will Spring bring more activity and greater price increases? We’ll keep you posted.

If you have questions about local real estate, don’t hesitate to contact one or our preferred partners below.