Dear Clients, Friends and Family –
The 3rd Quarter Gardner Report shows San Juan County once again as a significant outlier for Western Washington. Regionally, annual average home prices were up 26% from a year ago but with a considerable drop in sales from 2020 to 2021 (a result most likely of growing home prices and continued low inventory). Additionally, the average time on the market is up over 25%, typically indicating a slowing market, but because we have so little inventory, it is bound to be slower. Interesting times! The San Juan County and Area 901 [Orcas, Obstruction & Crane Islands] Breakouts compare a snapshot of October 2020 versus October 2021, reflecting the strong buyer demand we saw for the lion’s share of 2021.
Have questions? Feel free to call us; as real estate advisors specializing in the San Juans, we can help you analyze the data and explain how it pertains to your bottom line. Our mission is to provide you with current and accurate market information to keep you up to date on one of your biggest investments. And make sure to ask we send your complimentary home or property valuation – you will be pleasantly surprised to see your equity gains over the last year alone.
Cheers to Home ~ Wally, Laura & Terri, The Gudgell Group