Market Insights | June 2022

June 2022 in Stanwood and Camano Island showed signs of returning to a normal market. This shift is creating opportunities for some Buyers that we did not see in 2020 and 2021. Generally, there are more houses on the market, longer market times, steadying home prices, fewer showings, and open house attendees, fewer offers at one time, and more price adjustments.

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New Listings: Camano Island had 65 new listings hit the market in June, a 10% increase over last year. Stanwood had close to a 50% uptick in inventory over last year with 64 new listings compared to 43 last June. Overall, 129 new listings hit the market in June in our zip codes.

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Pending Sales: Stanwood and Camano Island were opposite in this category, with 85 Sellers accepting offers on their homes, 34 on Camano (down 33%), and 51 in Stanwood (up 13%).

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Homes Sold: There were 76 homes sold in zip codes 98282 and 98292 in April. Camano had 37 sales, a 10% decrease from 2021. Stanwood had 39 sales, an 11% increase over last year. Average prices on the homes sold year to date have increased 21%

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SELLERS – There is no reason to panic as we continue to move towards a balanced market. There is still a strong contingent of Buyers in our area ready to put an offer on the right house at the right price in the right condition. Financing and inspection contingencies are now the norm in most offers, but sales activity is still strong. Align yourself with a local agent to be prepared.

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BUYERS – While we have seen an increase in inventory to two months on Camano and nearly a month and a half in Stanwood, we are still far from a balanced or buyer’s market. A balanced market is typically found between four and six months of inventory. Be sure to work with a local agent, be ready to buy, and don’t give up.