Is Orcas, WA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Orcas is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Orcas has remained a Buyer's Market.

Key Takeaway

Orcas is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Orcas, WA

How much do homes in Orcas, WA cost?

Median Sold Price

$1,093,225

$537/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$149,018(+15.8%)

Key Takeaway

Homes in Orcas have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in Orcas was $1,093,225 in February 2024, up 15.8% from last year, and the median price per square foot was $537.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $750K$680K
-9.3%
2 $790K$950K
+20.3%
3 $1.0M$1.1M
+14.7%
4 $1.3M$1.4M
+7.7%
5+ -$1.2M
N/A

Summary: Orcas housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.3%, 2 bedroom homes increased by 20.3%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Eastsound
+17.0%
Orcas
+15.8%

Housing Supply in Orcas, WA

How many homes are available in Orcas, WA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
32320.0%

Summary: The Orcas real estate market had 32 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 33
0.0%
2 1515
0.0%
3 1112
+9.1%
4 21
-50.0%
5+ 11
0.0%

Summary: The Orcas housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Orcas, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Orcas in February 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Orcas, WA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
93 Days120 Days+29.0%

Summary: Homes in Orcas had an average of 120 days on market in Feb 2024, up by 29% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Orcas has remained consistent over time.

Summary: During February 2024, 2 homes were sold in Orcas; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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 28 Days Ago

Newest Listings in Orcas, WA

Nearby Markets to Orcas, WA

What housing markets are near Orcas, WA?