Is Central Whidbey Island, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central Whidbey Island is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Central Whidbey Island has remained a Seller's Market.

Key Takeaway

Central Whidbey Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Central Whidbey Island, WA

How much do homes in Central Whidbey Island, WA cost?

Median Sold Price

$630,000

$364/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$41,250(+7.0%)

Key Takeaway

Homes in Central Whidbey Island have sold for 7% more than they did a year ago.

Summary: The median home sold price in Central Whidbey Island was $630,000 in May 2024, up 7% from last year, and the median price per square foot was $364.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $585K$629.9K
+7.7%
2 $505K$520K
+3.0%
3 $605K$637.4K
+5.4%
4 $832.5K$730K
-12.3%
5+ $775K$1.0M
+30.6%

Summary: Central Whidbey Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes increased by 30.6%.

Median Sold Price Compared To Nearby Cities

Central Whidbey Island
+7.0%
North Whidbey Island
+5.5%
South Whidbey Island
+5.1%
Coupeville
+1.3%
Greenbank
-1.9%

Housing Supply in Central Whidbey Island, WA

How many homes are available in Central Whidbey Island, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
88104+18.2%

Summary: The Central Whidbey Island real estate market had 104 homes for sale in May 2024, a 18.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 66
0.0%
2 3036
+20.0%
3 4649
+6.5%
4 510
+100.0%
5+ 13
+200.0%

Summary: The Central Whidbey Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2519-24.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Central Whidbey Island, expect to pay close to the asking price. 52.6% of homes here sold near the asking price last month.

Summary: A total of 19 homes were sold or pending in Central Whidbey Island in May 2024, down by 24.0% month-over-month. Of the 19 sold homes, 37% were sold under asking, 53% were sold at asking, and 11% were sold over asking.

Days on Market for Central Whidbey Island, WA

How long does it take to sell a home in Central Whidbey Island, WA?

Average Sale Time

May 2023May 2024CHANGE
49 Days40 Days-18.9%

Summary: Homes in Central Whidbey Island had an average of 40 days on market in May 2024, down by 18.9% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Central Whidbey Island are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 19 homes were sold in Central Whidbey Island; 79% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

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