MAY 2021 was an active month in the Stanwood, Camano Island market. 95 residential listings were added in our zip codes 98282 and 98292. This is slightly fewer than May of 2020, when 104 new listings were added.
However, 87 residential homes sold during the month of May with an average sale price of $686,681, an average of 7% over list price. The average price per square foot was $344.
May Pending sales continued at the same pace as April, keeping inventory low. There were 89 pending sales in Stanwood and Camano Island.
Year over year price increases on the 418 residential closed sales in 2021 soared 21% from a year ago for our combined zip codes.
With more listings hitting the market, some sellers who have been pushing the envelope on their listing prices are now experiencing longer list times and, in some cases, have had to drop their prices.
That said, there is still far more demand than supply. Only a decrease in demand will truly moderate house price trends. We predict a high volume of pending sales activity continuing into the summer.
At Windermere, our responsiveness to the local market, dedication to the community, and commitment to our trade is why we help our clients sell more real estate in Stanwood and Camano Island than any other company.
We are all in, for you.
Windermere Real Estate Designated Broker | REALTOR®
Owner, Windermere Stanwood & Camano Island