Everett Real Estate Market Update: November 2018
Happy November, friends.
Every 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, October 2018:
Okay, now for comparison, let’s look at the month before that, September 2018:
From September 2018 to October 2018:
The number of homes sold went from 193 down to 175, about a 10% decrease in overall sales.
The average days on the market went from 21 days up to 26 days, meaning homes sold about 20% slower in October.
The average sales price hardly changed at all, going from $401k up to $402k.
For broader comparison, let’s take a look at this time last year, October 2017:
As always, here’s where we see a bigger difference. Comparing October 2017 to October 2018:
The number of homes sold went from 247 last year down to 175 this year, a decrease of about 30%.
Average days on the market went from 24 days last year up to an average of 26 days this year, showing just a slight slow down in market time.
The average price went from $365k last year up to $402k this year, meaning prices are still up about 10% right now comparing month over month.
The Everett market is quickly shifting from a strong seller’s market to becoming more balanced as demand diminishes and rapid price increases from sellers have turned into price decreases.
How do you feel about this shifting market? Comment below, and if you have any questions or need a real estate professional make sure you contact one of our preferred partners below.
EVERETT REAL ESTATE PROS:
Mortgage Loans
Our preferred lender, Michelle Bruto Da Costa.
Realtor
Reach out to our friends at Lamoureux Real Estate.
Rental
Check out our Everett Rental Guide.
*Stats provided by the Northwest Multiple Listing Service. Numbers reflect single family homes and condos.
Garret is the Co-founder + CEO of Live in Everett. He’s also a Realtor with Lamoureux Real Estate.
