Is East Skagit, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Skagit is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, East Skagit has remained a Seller's Market.

Key Takeaway

East Skagit is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in East Skagit, WA

How much do homes in East Skagit, WA cost?

Median Sold Price

$360,000

$266/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,050(+5.9%)

Key Takeaway

Homes in East Skagit have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in East Skagit was $360,000 in May 2024, up 5.9% from last year, and the median price per square foot was $266.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $175K$125K
-28.6%
2 $315K$332.2K
+5.5%
3 $370K$389K
+5.1%
4 $395K$536K
+35.7%
5+ -$475K
N/A

Summary: East Skagit housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lyman-Hamilton
+13.2%
Concrete
+7.2%
Lake Cavanaugh
+6.9%
East Skagit
+5.9%
East Whatcom
-1.0%

Housing Supply in East Skagit, WA

How many homes are available in East Skagit, WA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3949+25.6%

Summary: The East Skagit real estate market had 49 homes for sale in May 2024, a 25.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 910
+11.1%
2 1418
+28.6%
3 1319
+46.2%
4 00
0.0%
5+ 32
-33.3%

Summary: The East Skagit housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 46.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
510+100.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Skagit, you may be able to get a good deal. 70% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in East Skagit in May 2024, up by 100.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.

Days on Market for East Skagit, WA

How long does it take to sell a home in East Skagit, WA?

Average Sale Time

May 2023May 2024CHANGE
122 Days44 Days-64.0%

Summary: Homes in East Skagit had an average of 44 days on market in May 2024, down by 64% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in East Skagit are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 10 homes were sold in East Skagit; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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 20 Days Ago

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