May 2024 Market Insights

May 2024: The recent increase in listings, the highest in over 1.5 years, is a positive sign for the real estate market, particularly during the spring selling season. This influx has pushed active inventory into the triple digits. Additionally, the market has seen the most sold listings since last August, further indicating that market activity is picking up and heating up.

Higher interest rates and increased equity in buyers' homes have led to a rise in the number of cash buyers. Despite this trend, about 66% of transactions still involve financing. This suggests that while cash purchases are becoming more common, a significant majority of buyers continue to rely on financing for their home purchases.

New Listings: In our combined markets, the number of listings added has increased by 12% since last month, rising from 98 to 110, which is up by 26% from the same time last year. There were 48 new listings in Stanwood and 62 on Camano Island.

Active Listings:  Last year at this time our cumulative inventory was 105 (38 in Stanwood, 67 on Camano). At the end of May 2024, we have 105 active listings on Camano Island and 49 in Stanwood, for a total of 154 listings in our two zip codes.

Properties Sold:   As a result of the increased inventory, the number of homes sold in the month of May is up 35% from last year. A total of 66 homes found buyers in our two markets last month.

Sale Price: The average sales price is roughly $780,000 in both Stanwood and Camano Island for the month of May, up 14% from the same time last year.


With increased market activity, now is an excellent time to list your home. We are experiencing multiple offers in some cases, with buyers making strong bids. The average market time remains at 40 days. Take advantage of the selling season by getting your house on the market. Contact our offices to connect with a strong, local agent who will help get your home sold.


Interest rates have declined slightly over the past month. Economists are indicating that they may stay fairly stagnant for the next few months. Relatively high inventories make this a great time to find your dream home.  Getting under contract now will ensure that you are moved during the drier months before school starts in the fall. Be sure to align yourself with a local agent to ensure that you are in the best position to purchase the home you want.

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