Market Insights | April 2021

APRIL 2021 produced a hint of good news for Buyers — sizeable increases in new listings in the Stanwood and Camano Island zip codes compared to a year ago. The new listings move into pending status so quickly that the active listing numbers do not always reflect the overall activity.

Case in point. At the end of April, our zip codes had 35 active residential listings. Yet, during the month, 120 new listings were added. This is a jump of 48% more listings added in April 2020 when the pandemic shutdown was beginning. Compared to two years ago (April 2019), the volume of new listings is up 3%.

Pending sales continue to surge keeping inventory depleted. There were 90 pending sales in Stanwood and Camano Island in April, up nearly 61% from last April’s total of 56 pending sales.

With supplies depleted, prices continue to climb in most cases. In April, 74 sales closed in our zip codes, nearly 35% more than a year ago. Year over year prices on these sales surged 20% from $507,294 to $610,902.

Although bidding wars are common, some sellers who have been pushing the envelope on their listing prices are now experiencing longer list times and, in some cases, have had to drop their prices. With things starting to return to “normal” the off-the-chart activity placing sellers in the driver’s seat may be moderating.

That said, there is still far more demand than supply. Interest rates are still low. These two factors will most likely lead to the high volume of pending sales activity continuing into the summer.

At Windermere, our responsiveness to the local market, dedication to the community, and commitment to our trade is why we help our clients sell more real estate in Stanwood and Camano Island than any other company.