Market Trends
Latest News
October 27th, 2011
Moving your home from FOR SALE to SOLD on Camano Island
Every six months, we look back at the details of the homes sold on Camano Island. We use this data to determine some very interesting facts. Here are our findings from April 1 through September 30, 2011:
There are two markets – those properties that sell without a price drop and those with price changes. It is about a 30/70 percent split. Listings without price drops were on the market for a median of 37 days and sold for 97% of original list price. Those with price drops were on the market for 180 days and sold for 74% of original list price. While the original list price is important it is also acknowledged that pricing a home in today’s market is extremely difficult.
The other information we found is, the longer a house is on the market, the lower the selling price in relation to the original asking price.
*1 Sold means residential properties with a sold status date between April 1 and September 30, 2011 located on Camano Island. There were 131 total properties matching the above criteria. 34 had no price changes, 95 had price reductions and 2 had price increases.
*2 Total days on market is the NWMLS cumulative days on market.
*3 Original list price is the original list price of the earliest listing price during the cumulative days on market period.
*4 The median number of price changes was 3 and the median price drop before the sale was 7.0%.
For information on these or other Camano Island or Stanwood real estate statistics, please contact me at marlaheagle@windermere.com or 360-387-HOME.
January 20th, 2011
A Broker’s View of Camano Island Real Estate Statistics
Every month I prepare some form of real estate statistics for Camano Island and Stanwood. For some crazy reason, I think that everyone looks at them the same way that I do . Not true. In a recent conversation with Karyl Anderson-Mulhall, one of our Brokers, she
expressed an interest in sending a letter to her clients “explaining” these numbers and what they “really” mean. Karyl allowed me to publish an excerpt from her letter below…
List prices and actual sale prices have gone down in 2009 and 2010. We won’t even talk about 2008! The good news is that we have sold 30% more homes in 2010 as opposed to last year in 2009. However, prices are continuing to decrease. The average list price on Camano Island has gone down over 15%.
You might also be interested to know that Camano Island has over 140 homes in some stage of foreclosure. Makes a person think about how this might be an indicator that the price of homes could continue to go down, but that the volume of homes sold will go up…
Thanks for sharing parts of your letter Karyl.
If you are interested in reviewing a full copy of our Year-End 2010 Statistics, please send me an e-mail at marlaheagle@windermere.com or text to 360-320-1148. I would be happy to send them to you.
December 14th, 2010
Camano Island Real Estate Statistics
Every month, I assemble statistics for both the Stanwood and Camano Island real estate markets. I look at many aspects of the market…average price, average days on market, active listings year over year, etc. Another area that I measure is company market share. I look at the number of homes sold in a particular area (Camano Island in this case) and track the percentage that each company is selling.
The chart below indicates the total amount of home sales on Camano Island this year (224) and the percentage of homes sold by each of our local real estate companies.
To see the full Camano Island market Statistics report through Nobember 30, click here
April 1st, 2010
Five Years in Camano Real Estate
5 Years! April 2005 to April 2010. Looking back, if someone had told me what running a real estate brokerage would have been like over the past 5 years I would have turned around and run. Having said that – looking back now, I’m glad we bought this business. I’ve changed so much in this past ½ decade, grown as a business person and learned a lot about perseverance.
At family dinners, one of our favorite traditions is to go around the table and share our high and low of the day. We can only share one high and one low and it has to be from “today and today only”. I was reflecting the other day on what my high and low would be in this business over the past 5 years. My low would definitely be the recession (big surprise). I used to think we were in a protective bubble on Camano Island and wouldn’t be hit by any of the struggles in the economy faced by the rest of the world. I was wrong. My high would be watching the company and agents transform into this productive, high energy, community driven entity.
You know I love stats – I took a look at the end of the first quarter in 2010 vs. end of the first quarter in 2005. I was happy to see that the average sale prices weren’t that far off from 5 years ago. There are many more homes listed today but they sold faster then.
It has been a good 5 years. Our company is stronger now, we are more involved in the community and we are anticipating a bright future.
March 2nd, 2010
What’s Happening in the Camano Island Housing Market?
Most of our agents know that I consider myself the Queen of Camano Island Market Stats. One of the downfalls of this self appointed title is that I truly believe everyone enjoys talking about stats, looking at stats and staring at charts and graphs as much as I do. If you like numbers, read on…
The chart on the right shows the activity in each price range. As expected the majority of the activity is in the $250,000 and under range, but how refreshing to see small bursts of activity in the 300s and 400s.
Pending sales have been on the rise all year long. In my opinion, there are two reasons for this:
1. Sales are taking longer to close for a variety of reasons, stricter lending guidelines, bank involvement in short sales just to name a few. Some of these 41 pending sales have been waiting to close for several months.
2. Consumer confidence is slowly returning. Buyers have been waiting for the right time – interest rates are still low, tax credits are still available, homes are priced right and it is a Buyer’s market.