WESTERN WASHINGTON REAL ESTATE Q4 –
San Juan Islands Breakout
The numbers continue to show we are still in the throes of a hot real estate market, with a slight downturn from Q3 numbers, most likely due to seasonality. The seller’s market we saw for the lion’s share of 2020 in the San Juan Islands rang right through the New Year. The real estate market in San Juan County continues to break records for activity, price, days on the market, and lack of inventory. The Gardner Report and the NWMLS Breakout show the San Juan Islands are still the hottest market for homes sold in Western Washington; however, our county average for Median Price dipped -23.03%.
On Orcas Island, in Area 901, our numbers were more encouraging. Though Pending Sales were down by -37.5% from 2019, our Median Closing Price was up by 53.15%. The shortage of listings continues to be the biggest challenge for buyers in San Juan County. As a whole, we saw a drop from 2019 by -55.36% and on Orcas Island alone, we saw a staggering -61.29%.
We’ve been saying it for a year, “Now is the time to sell,” but the numbers continue to support there has not been a time better than now to list your home for a quick sale and highest return on your real estate investments. If you’re wondering how much equity you’ve gained this last year, the best approach to marketing for maximum return, what selling real estate in the Covid-19 Era looks like, my team and I are here to answer all your questions, serve as your local specialists and guide you to sold. To view or download the full report, click LINK TO Q4 2020 WESTERN WASHINGTON/ SAN JUAN COUNTY REPORT.
Cheers to Sold – Wally