Everett Real Estate - October 2016 Market Update
Happy October! Before you buy or sell your favorite haunted house, lets take a look at how the Everett real estate market is doing*.
Here are last month's results...
September 2016
Now let's compare September's numbers to the month before that...
August 2016
Comparing the last 2 months, the average sales price in Everett dropped $20,000, or nearly 6%. The average number of days on market went from 18 up to 23, and the number of homes sold dropped from 224 down to down to 189.
So, lower sales prices, longer days on market and less homes selling. Fall is certainly here (this blog post of October kids activities proves it)! This is the first slow down in the Everett market we've seen in quite a while. Perhaps the real estate fever of Summer is wearing down which istypical this time of year as kids go back to school.
Let's see how September's numbers compare to the same month from last year.
September 2015
Comparing year over year, the average price in September 2016 has only gone up about $13,000, or about 4%. A much smaller increase than what we saw in last month's Everett market update. As much as we like a strong real estate market, we do like seeing these more normal rates of appreciation. Moderate gains are much more sustainable than extreme ones.
Other comparisons from September 2015 to September 2016 are less days on market (32 down to 23) and the number of homes sold has gone from 230 down to 189. So there are less homes selling, but the homes that are selling, are selling faster, which is a sign of our low inventory levels and consistently increasing home values here in Everett. This has been the trend over the past few years.
Do you have a question about Everett real estate?
Feel free to contact us anytime. We're always happy to answer your questions, and we may even include your question in an upcoming market update or use it as the topic of a blog post to help others with similar questions.
As always, if you're interested in buying or selling in the Everett WA area, we're here to help. Consultations are always free.
Happy Living,
Garret + Tyler
Everett Advocates + Realtors
G: 425-308-1888 / T: 425-344-1727
*Stats provided by the Northwest Multiple Listing Service
