Despite a Nationally Rising Housing Supply, This Is Not a Typical Summer Real Estate Market in the San Juan Islands –
What Does This Mean for You?
We typically see the real estate market in the San Juans ebb and flow like the Salish Sea. Our market sees far more activity with our long summer days than over the winter months, with the lion’s share of sales “launching” each spring—a nod to Jeff Besos and the Blue Origin Crew. Since April 2020, we’ve seen continued demand from qualified buyers, shaping this summer up to be anything but a typical summer for sellers in the San Juan Islands.
As our island and national economies rebound, masks come off, and lives settle into a new “normal,” real estate in San Juan County continues to experience unprecedented demand for homes and vacant land, pushing median list price, sales prices, and price-per-square-foot per square foot higher while dropping the average days on the market from 55 days in March to 8 in June. So if you’re thinking about or have been putting off selling, you shouldn’t wait much longer. The year’s month-over-month gains in homes for sale since March 2021 on Orcas have helped buyers, but we are still very much in a sellers’ market.
As the graph below shows, even with the number of Orcas Island properties for sale rising, we’re still well below the supply levels we’ve seen historically:
More homes are coming to market, with more expected in the coming months. Selling this summer gives you the chance to get ahead of the competition and maximize your sales potential before more homes are put up for sale in your neighborhood.
The Bottom Line
More homes for sale equate to more options for buyers and more competition for sellers. So, whether you’re looking to buy or sell, let’s connect to discuss your options and why it’s still an excellent time to make your move.
For a complete picture of the Orcas Island market, click to read the entire June 2021 Real Estate Market Report for Orcas Island. And feel free to get in touch with us with questions, an overview of your property’s market value, or a more detailed and comprehensive, free no-obligation market analysis.