Is Island County, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Island County has remained a Seller's Market.
Key Takeaway
Island County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Island County, WA
How much do homes in Island County, WA cost?
Median Sold Price
$572,204
$328/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Island County have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Island County was $572,204 in March 2024, up 2.7% from last year, and the median price per square foot was $328.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $580K | $540K | -6.9% |
| 2 Bedrooms | $549.9K | $553K | +0.6% |
| 3 Bedrooms | $540.6K | $560.8K | +3.7% |
| 4 Bedrooms | $665K | $640K | -3.8% |
| 5+ Bedrooms | $625K | $587K | -6.1% |
Summary: Island County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 3.7%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 6.1%.
Median Sold Price Compared To Nearby Counties
| Island County | $557.3K | $572.2K | +2.7% |
| Snohomish County | $718.4K | $700K | -2.6% |
Housing Supply in Island County, WA
How many homes are available in Island County, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 318 | 366 | +15.1% |
Summary: The Island County real estate market had 366 homes for sale in March 2024, a 15.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 18 | +63.6% |
| 2 Bedrooms | 105 | 119 | +13.3% |
| 3 Bedrooms | 167 | 191 | +14.4% |
| 4 Bedrooms | 34 | 36 | +5.9% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Island County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 63.6%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 78 | 72 | -7.7% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Island County, you could pay more than the asking price. 34.7% of homes here sold above asking price last month.
Summary: A total of 72 homes were sold or pending in Island County in March 2024, down by 7.7% month-over-month. Of the 72 sold homes, 33% were sold under asking, 32% were sold at asking, and 35% were sold over asking.
Days on Market for Island County, WA
How long does it take to sell a home in Island County, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 60 Days | 49 Days | -18.2% |
Summary: Homes in Island County had an average of 49 days on market in Mar 2024, down by 18.2% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Island County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 72 homes were sold in Island County; 57% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved.