February 2024 Market Insights

February 2024:  Our Stanwood and Camano Island markets have remained slow over the past few months, which aligns with the typical seasonal patterns following the holiday season and winter weather. Interest rates continue to hover around 7%, which slows sellers’ willingness to give up their low mortgage rates and reduces buyers’ purchasing power.

We continue to maintain approximately 100% of List Price vs Sales Price ratios in both markets. At the same time, it is taking a little longer to sell your home now, with an average of about 55 days on the market for sold homes, which is consistent with the same time last year. Seasonally, we anticipate a significant decline by mid-spring when we see more buyers in the market.

New Listings: The number of new listings and inventory is slowly increasing from previous months, showing signs of incremental recovery. We saw 31 new listings in Stanwood and 23 on Camano Island, for a total of 54 listings added to our inventory, which is up by 64% from last month.

Pending Sales The number of homes that went under contract in February was the highest that we have seen since last summer. There were 40 homes pended in Stanwood, but only 15 on Camano Island. Cumulatively, this represents an increase of almost 45% from January.

Properties Sold:  In February, there were 27 homes sold in Stanwood and 14 on Camano Island, up slightly from the same time last year when there were only 37 homes sold in total.

Sale Price: The average sales prices of properties sold in Stanwood and Camano Island continue to increase incrementally month over month, yet they remain slightly lower than the same time as last year. For the rolling 12 months, the average sale price in Stanwood is $685,147 (3% lower than last year at the same time). On Camano Island, the average sale price is $751,590 over the past 12 months, down 4% from 2023.


Every indication validates we are seeing a lot of pent-up demand which could result in a surge of activity in the spring if interest rates drop into the mid-6% range. Get your house ready and position yourself with a local expert broker to help you get the most for your home.


As inventories increase, be ready to act swiftly if the perfect home comes onto the market. Align yourself with a strong agent and a knowledgeable lender. Spring is typically when we see the highest influx of new listings and buyers. Be ready to put your best foot forward if one of them is the right home for you.

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.

Jill Vail


Owner, Designated Broker

Windermere Stanwood & Camano Island