2016 was another seller’s market as buyer demand remained high and prices appreciated.
Stanwood, WA was at its low in January, with a median home price of $286,500. The summer hovered around $350,000, reaching a high in November at $380,000. Stanwood’s median home price ended the year at $332,000 in December.
Camano Island, WA started the year at an elevated median home price of $345,000. The market experienced a dip in July hitting a low median home price of $265,000. The late summer months experienced quite a large gain hitting a high median price of $386,500. 2016 ended with a median home price of $359,000 in December.
In 2015, Stanwood, WA had an average median home price of $310,094. 2016 home prices increased 8.9% in 2016, with an average median home price raising to $337,569.
Camano Island, WA had an average median home price of $299,024 in 2015. In 2016, the average median home price increased almost 13% to $337,406.
There were 7.6% more homes listed in 2016 than the previous year (totaling 1162 listed homes in 2016) in Stanwood, WA. June through October were the heightened months listed homes, as expected in this area.
Camano Island, WA had a far more active market than Stanwood with 1814 homes available in 2015 and 1423 homes available in 2016. The activity decreased significantly, a 27% drop in listed homes year over year.
Knowing the market trends can help you find the best time to buy or sell. Call me if you would like a free consultation to discuss your strategy if you are looking to buy or sell!
Happy New Year! 🙂
Kenzie Kipper, ABR, SRES
Real Estate Broker, Kelly Right Real Estate of Seattle LLC