The Island County real estate market is seeing residential homes increase in price compared to January 2018, total active listings have increased, and homes are selling at a slightly quicker pace.
Residential Home Sales
Median sale price of residential homes is $447,000 for 2019, up from the mediansale price of $419,925 in January 2018.
There has been an increase in the number of active listings, 272 for January 2019, up from 228 during Jan 2018. 121 new listings came to market in January 2019, versus 123 January 2018. Average time on the market in January 2019 was 110 days, down from 125 days
from January 2018.
New Construction Home Sales
Median price for new construction homes is $454,475, up significantly in January 2019 from $347,000 in January 2018.
14 new construction listings were available in January 2019, and a total of 38 new construction listings overall are active on the market. Average days on the market for new construction homes is down to 88, from 120 days in January 2018.
The median Condominium price ended January 2019 at $219,500, down from $235,000 in January 2018. A total of six new listings came to market in January 2019 and there are a total of 20 active condo listings ending January 2019.
Average time on the market is down from 78 days in January 2018 to 63 days ending January 2019.
There were a total of 132 pending sales ending the month of January 2019, down from 167 in January 2018. Median sales price is $355,000 for January 2019, down from $374,950 during January 2018.
Average days on the market for pending sales is 59 days, a drop from 68 days during January 2018
Closed Sale Prices
Residential median closed sale prices are $337,750, a decrease from January 2018 median close price of $349,000. A total of 82 properties closed in January 2019, down from 119 during January 2018.
New construction closing prices for January 2019 had a decrease in price of $334,000, down from $381,537. Three new construction properties closed in January 2019, down from 16 in January 2018. Condominium median closing prices were $199,000 in January 2019, down from $207,000 in January 2018.
What Does This Mean For Sellers
Sellers are seeing prices increase and days on the market dropping. This indicates a high demand for homes in the area. Sellers should have their home priced competitively.
Sellers should take advantage of our free home valuation calculator. This tool assists you in pricing your home accurately. Give us a call to answer your questions before you list your home.
What Does This Mean For Buyers
Buyers that find a home should be prepared to act quickly since prices for most areas are rising. However some areas, such as the 811 and 812 area codes have seen prices drop slightly, and inventory staying on the market for a longer period of time.
Buyers should have financing in place and work closely with their realtor to create the most competitive offer for sellers. Buyers can sign up for alerts to be notified when matching properties become available.
Island County Homes For Sale
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See Additional Reports on the Island County Real Estate Market
Here are the most recent home listings just added to the database in the median price range of $447,000. Be sure to save a search and be notified when new listings are added to the database.
Island County Condominiums For Sales
Here are the most recent condominiums added to the database for Island County. All condos are priced at $219,500 or less.
Island County New Construction Homes for Sale
Here are the most recent new construction homes added to the database for Island County. All new construction homes are priced at $454,475 or less.