Market Insights | December 2020

DECEMBER 2020 was not our typical December. The Camano Island and Stanwood zip codes sustained unusually strong home sales before, during, and after the holidays.

In Camano Island and Stanwood, 53 new listings were added to inventory during December, a hefty 25% increase over the same month a year ago. Last month’s addition fell short of meeting demand as 58 new pending sales were reported. This number surpassed the year-ago volume by 12 transactions for an increase of 26%.

At month end, our zip codes had 32 active residential listings (13 on Camano Island and 19 in Stanwood). That is down 71% from a year ago when our inventory included 110 listings. Measured by months of inventory, there is only about a week and a half supply available. This is well below the four to six months of supply used by housing analysts as a gauge of a balanced market.

To sum up the December market, continued low inventory, buyer demand, and

low interest rates continue to drive momentum. COVID has not slowed the demand for housing, in fact, it has driven it up as people search for the perfect work from home location.