Market Insights | August 2021

AUGUST 2021 statistics show the volume of new listings rose from both July (up 4%) and twelve months ago (up 24%). Total inventory for Stanwood and Camano Island fell 40% on Camano Island and 3% in Stanwood from a year ago but stayed even with July.

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The average price on the 96 residential homes that closed in August in our zip codes was $698,995, about $14,000 less than July. Prices did rise compared to a year ago climbing from $573,718 for an increase of 22%.

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Matthew Gardner, chief economist at Windermere Real Estate, suggested price cooling is in sight. He looks at listing prices as a leading indicator of where the market is headed. In Stanwood and Camano Island, average list prices dropped from $625,000 in July to $610,000 in August.

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SELLERS – Pricing a property correctly has never been more important. The lack of homes available for sale indicate that properties will move quickly if priced reasonably. Even slight overpricing can lead to extended market time and the possibility of offers below list price.

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BUYERS – Interest rates are still on your side, providing increased buying power. We believe we are “hitting the price ceiling” and home prices will continue to level off as we move through the rest of the year.

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We are all in, for you.

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