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 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
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
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $650K | $780K | +20.0% |
| 2 Bedrooms | $655K | $705K | +7.6% |
| 3 Bedrooms | $757.5K | $751K | -0.9% |
| 4 Bedrooms | $900K | $985K | +9.4% |
| 5+ Bedrooms | $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 | $780K | $838.8K | +7.5% |
| Central Whidbey Island | $588.7K | $630K | +7.0% |
| South Whidbey Island | $712.4K | $748.4K | +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 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 125 | +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
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 39 | 53 | +35.9% |
| 3 Bedrooms | 52 | 58 | +11.5% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +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 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 25 | +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
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 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 34 Days | 0.4% |
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
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.
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.