The local real estate market continues to transition toward a more balanced pace. While inventory has increasedsigni ficantly, home prices remain stable, giving buyers more options while encouraging sellers to price strategically. Here's a look at what happened in our market through the end of June and what it means for buyers and sellers moving forward.
Key Market Trends
Inventory Growth: Active residential listings have more than doubled since the start of the year, with 267 homes for sale at the end of June (up from 98 in January). This increase means more choices for buyers and more competition for
sellers.
Steady Home Prices: The median price for homes newly listed in June was $719,500, with active listings holding around $799,450. Despite the increase in inventory, prices have held steady compared to earlier in the year
Cooling Sales Pace: Closed home sales totaled 80 in June, up from 56 last month and up 35% higher than the same time last year. However, pending sales were down, with only 66 homes finding their buyers, as compared to 74 in May.
Homes Taking Longer to Sell: The average days on market for homes sold was just over 43 days in June, a slight decrease from earlier in the spring but consistent with r.ecent market trends.
List-to-Sale Price Ratio: On average, homes sold for just under 98% of their original list price in June, slightly less than in the peak spring season. This trend suggests sellers may need to be more flexible on pricing and concessions
With more competition, pricing your home competitively can help attract buyers and minimize time on the market.
With more homes on the market, buyers now have more choices and may be able to negotiate better terms.
Overall, the market is continuing to shift from the frenzied pace of recent years to a more balanced environment.
Let's Connect!
Interested in your home's current value or in seeing the latest listings? Reach out anytime for a personalized market consultation, a complimentary valuation, or just to chat about your options. The Realtors® at Windermere Stanwood-Camano are here to guide you every step of the way!
Jill Vail
REALTOR®
Owner, Designated Broker
Windermere Stanwood & Camano Island
jillvail@windermere.com
360-387-HOME
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.