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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Whidbey Island is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in North Whidbey Island, WA

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

Median Sold Price

$494,999

$294/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,604(+5.5%)

Key Takeaway

Homes in North Whidbey Island have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in North Whidbey Island was $494,999 in May 2024, up 5.5% from last year, and the median price per square foot was $294.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $220K$367.5K
+67.0%
2 $372K$385K
+3.5%
3 $464.3K$489.7K
+5.5%
4 $554K$585K
+5.6%
5+ $572K$515K
-10.0%

Summary: North Whidbey Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 67%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 10%.

Median Sold Price Compared To Nearby Cities

Oak Harbor
+8.8%
Central Whidbey Island
+7.0%
North Whidbey Island
+5.5%

Housing Supply in North Whidbey Island, WA

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

Number of Homes For Sale

Apr 2024May 2024CHANGE
151173+14.6%

Summary: The North Whidbey Island real estate market had 173 homes for sale in May 2024, a 14.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 35
+66.7%
2 2733
+22.2%
3 9193
+2.2%
4 2736
+33.3%
5+ 36
+100.0%

Summary: The North Whidbey Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3452+52.9%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Whidbey Island, expect to pay close to the asking price. 34.6% of homes here sold near the asking price last month.

Summary: A total of 52 homes were sold or pending in North Whidbey Island in May 2024, up by 52.9% month-over-month. Of the 52 sold homes, 33% were sold under asking, 35% were sold at asking, and 33% were sold over asking.

Days on Market for North Whidbey Island, WA

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

Average Sale Time

May 2023May 2024CHANGE
31 Days36 Days+13.3%

Summary: Homes in North Whidbey Island had an average of 36 days on market in May 2024, up by 13.3% compared to last year.

Breakdown of Home Sale Times

38 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 52 homes were sold in North Whidbey Island; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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

Newest Listings in North Whidbey Island, WA

Nearby Markets to North Whidbey Island, WA

What housing markets are near North Whidbey Island, WA?