Market Insights | July 2022

July 2022 in Stanwood and Camano Island was a time for Buyers and Sellers to recalibrate and take note of the shifting market. Expectations are changing as the market continues to normalize. Sales volume has dipped a little in our area, but prices are continuing to hold steady. Of the 68 homes sold in the Stanwood and Camano Island market in July, 50 of them, or 74%, sold at or above listing price.

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New Listings: Camano Island had 63 new listings hit the market in July, a 19% increase over last year. Stanwood experienced a 28% decline in inventory over last July with 54 new listings compared to 75 last July. Active listings nearly doubled from a year ago. On July 31, our inventory was up 84% over this same time last year, with 144 active listings in our two zip codes.

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Pending Sales: Stanwood and Camano Island both saw fewer pending sales compared to last year, with 83 Sellers accepting offers on their homes, compared to 106 last July (down 22%).

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Homes Sold: There were 68 homes sold in zip codes 98282 and 98292 in July. 34 sales on Camano and 34 sales in Stanwood. This is a 19% year-over-year decrease. Despite the fewer sales, the average sale price still rose.

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SELLERS – Market times are still in your favor. Homes are on the market in our area an average of 15 days, just 1 day longer than last year at this time. However, overpricing your home is not an option. Also, if you were reluctant to put your home on the market because you couldn’t find a home to buy, you are now in luck with the increased inventory! Remember to align yourself with a local agent to maximize your listing.

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BUYERS – After a season of shrinking inventory, multiple offers and not being able to include contingencies like financing or inspections, you now have choices, with more new listings on the horizon. Be sure to work with a local agent and be ready when that listing you’ve been waiting for pops 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.