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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vashon Island is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Vashon Island, WA

How much do homes in Vashon Island, WA cost?

Median Sold Price

$765,000

$499/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$60,000(-7.3%)

Key Takeaway

Homes in Vashon Island have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in Vashon Island was $765,000 in March 2024, down 7.3% from last year, and the median price per square foot was $499.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $800K$600K
-25.0%
2 $700K$725.5K
+3.6%
3 $860K$810K
-5.8%
4 $950K$1.2M
+32.4%
5+ $1.2M$1.1M
-6.3%

Summary: Vashon Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 3.6%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes decreased by 6.3%.

Median Sold Price Compared To Nearby Cities

Vashon Island
-7.3%
Vashon
-7.4%

Housing Supply in Vashon Island, WA

How many homes are available in Vashon Island, WA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3344+33.3%

Summary: The Vashon Island real estate market had 44 homes for sale in March 2024, a 33.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 913
+44.4%
3 1623
+43.8%
4 55
0.0%
5+ 11
0.0%

Summary: The Vashon Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 44.4%, 3 bedroom homes increased by 43.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
518+260.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vashon Island, expect to pay close to the asking price. 61.1% of homes here sold near the asking price last month.

Summary: A total of 18 homes were sold or pending in Vashon Island in March 2024, up by 260.0% month-over-month. Of the 18 sold homes, 17% were sold under asking, 61% were sold at asking, and 22% were sold over asking.

Days on Market for Vashon Island, WA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
53 Days42 Days-21.2%

Summary: Homes in Vashon Island had an average of 42 days on market in Mar 2024, down by 21.2% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 18 homes were sold in Vashon Island; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% 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 24 Days Ago

Newest Listings in Vashon Island, WA

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