Every month, Windermere Stanwood-Camano publishes a snapshot of the local real estate market. Our Brokers use this data to help determine listing prices, realistic offers, and tailored advice for their clients. We also like to make this information public, to help you with your real estate journey. Here are our key takeaways from July 2018.
Insights From Marla
Even though it’s back-to-school time, it’s still a great time for Stanwood-Camano sellers to list their homes as inventory is low in certain areas and prices are going up. In our community, sales aren’t drastically affected by the school year starting, as seen in other areas where young families represent a large percentage of the buyers. Even more, the average amount of days houses are on the market is down, so you’ll spend less time waiting on offers.
Fifty new listings were added on Camano in July, which is down from 70 last year. This means inventory is lower, which boosts your listing’s chances of being considered. Overall, the number of listings is down to 100 from 124 in 2017. That’s a decrease of 19%. Lower inventory means less competition.
The average home’s sale price has increased by 11% over the last year, translating into an average of $47,000 more per sale.
The most significant change is the average time spent on the market for sold listings, which has decreased by 28%. An average of 60 days on the market in 2017 has now dropped to 43 days.
While inventory is relatively stable in Stanwood, the average sale price per home has increased by 13%, which averages to over $54,000 more compared to 2017.
The average amount of time spent on the market for sold listings has also decreased by 3 days.
Full Stats – Camano Island
Full Stats – Stanwood