Market Insights | August 2022

by Windermere Stanwood Camano

August 2022 in Stanwood and Camano Island was an August with market conditions similar to what we experienced in pre-pandemic times. Sales volume has dipped a little in our area, which is common for August, but the average sales price is continuing to hold steady. Many of the homes that are going under contract are in the affordable and mid-price ranges. Buyer’s demand is still high as some would like to find a home to buy before fall sets in.

New Listings: Camano Island had 42 new listings hit the market in August, a 28% decrease from last year. Stanwood experienced a 42% decline in inventory from last August with 42 new listings compared to 73 last August. However, on August 31, our inventory count was up 125% over this same time last year, with 155 active listings in our two zip codes.

Pending Sales: Stanwood and Camano Island both saw fewer pending sales compared to last year, with 57 Sellers accepting offers on their homes, compared to 103 last August (down 44%).

Homes Sold: There were 81 homes sold in zip codes 98282 and 98292 in August. 45 sales on Camano and 36 sales in Stanwood. This is a 13% year-over-year decrease. Despite the fewer sales, the average sale price still rose.

SELLERS – We believe that inventory will continue to grow, leading to more competition in the market as we head into fall. You will need to be realistic about pricing and follow the advice of your agent regarding preparation of the home and positioning in the market.

BUYERS –Windermere’s Chief Economist, Matthew Gardner states, “I predict prices will drop further as we move into the fall, but reports that we are entering a buyers’ market are highly exaggerated. The market is simply reverting to its long-term average as it moves away from the artificial conditions caused by the pandemic.”

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.

We are all in, for you.

Stanwood Market Insights

Camano Island Market Insights

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