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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Whidbey Island is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in South Whidbey Island, WA

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

Median Sold Price

$748,450

$391/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$36,012(+5.1%)

Key Takeaway

Homes in South Whidbey Island have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in South Whidbey Island was $748,450 in May 2024, up 5.1% from last year, and the median price per square foot was $391.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $650K$780K
+20.0%
2 $655K$705K
+7.6%
3 $757.5K$751K
-0.9%
4 $900K$985K
+9.4%
5+ $525K$875K
+66.7%

Summary: South Whidbey Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 66.7%.

Median Sold Price Compared To Nearby Cities

Langley
+7.5%
Central Whidbey Island
+7.0%
South Whidbey Island
+5.1%

Housing Supply in South Whidbey Island, WA

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

Number of Homes For Sale

Apr 2024May 2024CHANGE
102125+22.5%

Summary: The South Whidbey Island real estate market had 125 homes for sale in May 2024, a 22.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 89
+12.5%
2 3953
+35.9%
3 5258
+11.5%
4 23
+50.0%
5+ 12
+100.0%

Summary: The South Whidbey Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 35.9%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1425+78.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Whidbey Island, you may be able to get a good deal. 36% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in South Whidbey Island in May 2024, up by 78.6% month-over-month. Of the 25 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% 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

May 2023May 2024CHANGE
34 Days34 Days0.4%

Summary: Homes in South Whidbey Island had an average of 34 days on market in May 2024, up by 0.4% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 25 homes were sold in South Whidbey Island; 68% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 12% 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

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