In the 1st quarter of 2022, there were a total of 89 residential sales in Stanwood, WA (down from 131 sales in Q1 2021, a 32% reduction in sales) and 68 total sales in Camano Island, WA (down from 80 in Q1 2021, a 15% decrease in sales since last Q1).
Stanwood, WA home sales ranged from $361,000 (up from $214,000 in Q1 2021) to $1,425,000 (up from $1,213,000 in Q1 2021) with a median price point of $610,000 (up from $525,685 in Q1 2021, a 14% increase).
Camano Island, WA home sales ranged from $345,000 (up from $220,000 in Q1 2021) to $1,870,000 (up from $1,400,000 in Q1 2021) with a median price of $705,000 (significantly up from $527,000 from Q1 2021). Comparing Q1s, median home prices on Camano Island have increased by 25%.
Many of you have heard about the interest rates rising since last year, and all of us have had first-hand experience with increasing fuel costs and the impact on cost for basic needs and travel. Fed Chair Powell stressed that the tightening of monetary policy is “absolutely essential” to maintain price stability and fight inflation. The Fed Funds rate is expected to be on the rise again, and soon.
As your local Managing Broker, I keep a finger on the real estate pulse for you and would love to talk strategy!
If you or someone you know is looking to buy or sell a home, I would be happy to contact them! Let me know how I can be of service!
Kenzie Kipper, SRES, ABR
Managing Broker, Kenzie Realty at Kelly Right RE of Seattle LLC
Kenzie@KenzieRealty | 425.765.4432