Is South Whidbey Island, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, South Whidbey Island was a Seller's Market.
Key Takeaway
South Whidbey Island is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in South Whidbey Island, WA
How much do homes in South Whidbey Island, WA cost?
Median Sold Price
$740,000
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in South Whidbey Island have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in South Whidbey Island was $740,000 in March 2024, up 5.7% from last year, and the median price per square foot was $389.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $650K | $789K | +21.4% |
| 2 Bedrooms | $678K | $679K | 0.1% |
| 3 Bedrooms | $745K | $740K | -0.7% |
| 4 Bedrooms | $1.0M | $805K | -23.7% |
| 5+ Bedrooms | $525K | $875K | +66.7% |
Summary: South Whidbey Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.4%, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes decreased by 23.7%, and 5+ bedroom homes increased by 66.7%.
Median Sold Price Compared To Nearby Cities
| South Whidbey Island | $699.9K | $740K | +5.7% |
| Central Whidbey Island | $601.5K | $629.1K | +4.6% |
Housing Supply in South Whidbey Island, WA
How many homes are available in South Whidbey Island, WA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 73 | +46.0% |
Summary: The South Whidbey Island real estate market had 73 homes for sale in March 2024, a 46.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 7 | +75.0% |
| 2 Bedrooms | 23 | 26 | +13.0% |
| 3 Bedrooms | 21 | 38 | +81.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Whidbey Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 81%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Whidbey Island, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in South Whidbey Island in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 42% were sold under asking, 25% were sold at asking, and 33% were sold over asking.
Days on Market for South Whidbey Island, WA
How long does it take to sell a home in South Whidbey Island, WA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 59 Days | -4.8% |
Summary: Homes in South Whidbey Island had an average of 59 days on market in Mar 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Whidbey Island are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in South Whidbey Island; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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.