Is Island County, 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, Island County has remained a Seller's Market.
Key Takeaway
Island County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Island County, WA
How much do homes in Island County, WA cost?
Median Sold Price
$581,561
$330/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Island County have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Island County was $581,561 in May 2024, up 5.6% from last year, and the median price per square foot was $330.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $544.5K | $599.9K | +10.2% |
| 2 Bedrooms | $546.4K | $559.8K | +2.4% |
| 3 Bedrooms | $537.8K | $570K | +6.0% |
| 4 Bedrooms | $655K | $650K | -0.8% |
| 5+ Bedrooms | $602.5K | $639K | +6.1% |
Summary: Island County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 6%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Counties
| Island County | $550.6K | $581.5K | +5.6% |
| Snohomish County | $699.5K | $709.2K | +1.4% |
Housing Supply in Island County, WA
How many homes are available in Island County, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 473 | 566 | +19.7% |
Summary: The Island County real estate market had 566 homes for sale in May 2024, a 19.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 25 | +4.2% |
| 2 Bedrooms | 149 | 182 | +22.1% |
| 3 Bedrooms | 250 | 282 | +12.8% |
| 4 Bedrooms | 44 | 64 | +45.5% |
| 5+ Bedrooms | 6 | 13 | +116.7% |
Summary: The Island County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 116.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 126 | +23.5% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
46 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Island County, expect to pay close to the asking price. 36.5% of homes here sold near the asking price last month.
Summary: A total of 126 homes were sold or pending in Island County in May 2024, up by 23.5% month-over-month. Of the 126 sold homes, 36% were sold under asking, 37% were sold at asking, and 28% were sold over asking.
Days on Market for Island County, WA
How long does it take to sell a home in Island County, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 36 Days | -2.4% |
Summary: Homes in Island County had an average of 36 days on market in May 2024, down by 2.4% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Island County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 126 homes were sold in Island County; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 13% 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.