6 Signs the Everett Real Estate Market is Sizzling
Over the last couple months we've featured some of Everett's best new listings as they've hit the market. We like sharing about Everett homes because, well, we're Realtors, but also because we know there's a lot of people out there considering buying in Everett and Everett homes are a GREAT value. One interesting fact about the last six homes we've featured have been their higher price ranges. Yet, despite the higher-than-average prices, these homes have been selling like hot cakes!
For example:
1. 1420 Rucker, $385k, sold in 2 days.
2. 1311 Grand, listed at $424,950. Sold in 3 days for $457,500.
3. 3219 Grand, $400k, sold in 5 days.
4. 2318 Baker, $415k, pending in 3 days.
5. 1624 Rucker, listed at $610k. Sold in 4 days for $635,000.
6. 3416 Bell, listed at $495k. Sold in 6 days for $485k.
The median home price in Everett over the last year has been approximately $325,000 with an average number of days on market of about 35.
Looking at these 6 homes, though, their average price has been about $460,000 and their average days on market has only been 4! Wow.
Now, we recognize the fact that these 6 homes were 'cherry picked' and this data doesn't include the whole of Everett. But, typically higher priced homes like these do not sell as fast. The higher-than-average a home is priced for the area, the less number of qualified buyers there are. So, when we see homes priced higher than Everett averages selling so fast, that's a sure sign of how strong the Everett market is.
If you're thinking of buying or selling in Everett-
Here's what this all means for you. Inventory is low, which gives sellers the upper hand. But, interest rates are still at historic lows, which means buyers are motivated and it's still a great time to buy.
Sellers have the advantage of high buyer demand, but over priced and poorly marketed homes are still not selling. Even though it's a seller's market, positioning your home properly is still very important. Check out our seller services if you're curious about how we help sellers sell their homes.
For buyers, we're seeing lots of multiple offers and bidding wars. we won't rant about the 27 different things to do to buy successfully in today's market, but we will strongly encourage you to make sure you work with a competent and dedicated agent and lender. A skilled agent and lender will help guide you through the buying process and help you make it a success. Having a dedicated agent shouldn't cost you a dime (you can even get some coin back through our 'do good initiative').
If you're interested in buying in the Everett area, check out our buyer services.
Feel free to contact us if you ever have any questions about navigating the Everett real estate market. We're here to help.
-Garret + Tyler
Everett Advocates + Real Estate Agents
Garret and Tyler are the founders of Live in Everett. They play racquetball three times per week (Tyler always wins, but only because he has longer arms) and they sell real estate.
