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April 2022 in Stanwood and Camano Island ended with a combined 170% increase in inventory over April of last year. This is one of the signs that our market has downshifted from a market that was extremely hot, to a more normal market similar to what we were experiencing pre-pandemic. This increase in inventory, coupled with rising interest rates and inflation are the key factors to this shift.
New Listings: Overall, 109 listings were added to our combined markets last month. 81 listings were added in March. A 35% month-over-month increase.
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Pending Sales: Stanwood and Camano Island were both down in this category, with 70 Sellers accepting offers on their homes, 30 on Camano and 40 in Stanwood. This is a combined 11% decrease over last April, and a contributing factor to the higher inventory.
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Homes Sold: There were 83 homes sold in zip codes 98282 and 98292 in April. Camano had 38 sales, a 10% decrease from 2021. Stanwood had 45 sales, a 2% increase over last year. Average prices on the homes sold year to date have increased 24%
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SELLERS – It is still a good time to come onto the market, and most Buyers are willing to pay a premium. Interest rates are going up, and this will slightly narrow the Buyer pool, but we still anticipate high demand. Make sure your home is in great shape before you list – align yourself with a local agent to be prepared.
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BUYERS – According to Windermere’s Chief Economist, Matthew Gardner, “Owning real estate is a hedge against rising inflation. Homeowners with a fixed-rate mortgage will always have the same monthly payment, even as other costs rise.” Work with a local agent, be ready to buy, and don’t give up.
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At Windermere, our responsiveness to the local market, dedication to the community, and commitment to our trade is why we help our clients buy and sell more real estate in Stanwood and Camano Island than any other company..
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We are all in, for you.
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Marla Heagle
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Windermere Real Estate Designated Broker | REALTOR®
Owner, Windermere Stanwood & Camano Island
360-387-HOME
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