Everett Real Estate Market Update: February 2019

Happy February!

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, January 2019:

For comparison, let’s compare that to the previous month, December 2018:

From December 2018 to January 2018:

The number of homes sold decreased about 24%.
Average days on market barely changed, increasing from 41 to 42.
The average price dropped $22k from $393k down to $371k, about a 5.6% drop.

Wow, that’s the largest drop in price we’ve seen in a while. Although January is a historically slower month in general. For a broader comparison, let’s compare to this time last year, January 2018:

Comparing January 2018 to January 2019, homes took 50% longer to sell this year and the average price this January ($371k) actually dropped lower than January 2018’s average price ($374k). We’ve been observing the market slightly decrease for the last number of months, but this is the first time we’ve seen prices dip below their previous years average.

If prices continue to trend downward, now may be the perfect time to sell if you’ve been on the fence. Declining prices also give buyers more negotiating power.

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