Everett Real Estate: Market Update June 2016
How's the Everett real estate marketing doing? Lets use June 2016 as a reference point*.
All these numbers are averages for condos and single family homes combined. Lets see how June's numbers compare to the prior month, May 2016-
The most notable changes were less homes sold AND less days on market. The average days on market in June went down to only 16! We have been seeing lots of bidding wars and competition amongst buyers.
A glance at the prior year, June 2015:
Here's where we see the even bigger changes. Comparing home sales in June 2015 to June 2016, prices have gone up almost 10%, and homes have been selling over 40% faster. We are definitely in a hot sellers market.
Will prices go up another 10% over the next year? Are we in a bubble that is about to burst? We don't know. If only we had a crystal ball. Here is what we recommend- buy because you want to buy. Buy because you can afford it, and the time is right for you. The real estate market has always gone up and down over the years, but more up than down. We believe owning is a good investment, especially when it comes to Everett. We don't believe in timing the market. The fact is, interest rates are still insanely low, and even though prices have been going up, you can still get very affordable home in Everett.
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.
Garret + Tyler
Everett Advocates + Realtors
G: 425-308-1888 / T: 425-344-1727
*Stats provided by the Northwest Multiple Listing Service
