Welcome to the first 2008 snapshot of what is going on in our market place today, January 18th.
The supply and demand in real estate is best gauged by looking at the number of pending sales. Here is a snapshot of what our market looks like today on Camano Island for residential homes.
Price | Total # Homes | # Pending Sales | Percentage (Demand) | Average # Days on Market |
$100-150K | 1 | 0 | 0% | 137 |
$150-200K | 18 | 2 | 11% | 92 |
$200-250K | 21 | 2 | 10% | 86 |
$250-300K | 31 | 0 | 0% | 76 |
$300-350K | 28 | 0 | 0% | 158 |
$350-400K | 33 | 1 | 3% | 88 |
$400-450K | 18 | 1 | 6% | 75 |
$450-500K | 35 | 2 | 6% | 166 |
$500-550K | 14 | 0 | 0% | 148 |
$550-600K | 20 | 0 | 0% | 165 |
$600-700K | 28 | 0 | 0% | 115 |
$700-800K | 18 | 0 | 0% | 106 |
$800-900K | 11 | 0 | 0% | 131 |
$900-1 million | 3 | 0 | 0% | 248 |
over 1 million | 14 | 1 | 7% | 147 |
TOTAL | 293 | 9 | 3% | 120 |
What does this mean?
Sellers, let's be honest. The market on Camano Island is challenging right now. Some of the best price ranges to be in are $150,000-$250,000 but there is a lot of competition. Pricing, condition, and marketing are key in order to get your home sold. But, homes are still selling and buyers are out there. If you are selling your home, make sure you have an experienced agent who knows the market and your local area.
Buyers, there are a lot of choices and many sellers are willing to negotiate. Don't think that means you can expect a lowball offer to go through without a hitch. Many sellers still know what their homes are worth and are willing to wait.
Looking over the data from last month compared to today, the sales have dropped slightly from 4% to 3%, but the average days on market for listings has also decreased slightly from 143 in December to 120 today. I think we will see things pick up soon. Camano Island is certainly a gorgeous place to live and a very unique community.
If you are thinking about selling your home in or moving to Stanwood, Arlington, Marysville or Camano Island, give me a call.
Jen Hudson, GRI (360) 652-1200 or jen@jenhudsonhomes.com
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Looking for a Equestrian Property, Investment Property, a Home or Land in Stanwood, Arlington & on Camano Island? When it comes to real estate, my goals are simple. Let me put your needs first.
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Great post, Jen--I love your summary as well as your chart!
Jen I see you are a fellow RE/MAX agent and was enjoyed reading your BIO. Your market looks about the same as ours in Greenwood SC as far as the prices of homes. I don't think we're quite as slow though.I hope things will pick up there for you. I visited your personal website will you visit mine too?
Thanks
Sally in Greenwood
Thanks Debe!
Thanks Sally! Your site looks nice, I like your painting the colors of the american dream logo. Things will pick up, I don't doubt it. Our economy is strong & interest rates are great. That in combination with the slightly declining housing prices over the last year, how can it not be a good time to buy!