Anacortes - Bellingham - Camano Island
San Juan Islands - Sequim - Whidbey Island
Total sales have remained fairly steady across these markets from first half 2014 to 2016 with 152, 170, and 173, respectively. Bellingham continues to sell the most units with 53 this year; Camano Island, Whidbey Island and all the San Juan Islands follow close behind with 36, 30 and 32 home sales in first half 2016, respectively.
With the exception of Sequim and the San Juan Islands, all areas are showing a drastic decrease in days on market. We can attribute Sequim’s outlier status to the low inventory (only 5 waterfront homes sold YTD) but the San Juans, with 32 home sales, must be attributed to a higher sales price. The average sales price for a waterfront home in the San Juans has cracked the $1 million mark and appears poised to stay there. That seventh digit may be keeping these homes on market longer than they were in 2015 and especially 2014. Needless to say, sales prices are up in all Northern Sound markets. Controlling for Sequim’s low sample size, all areas show at least a 2.79% increase in average sales price with a high of 29.99% increase on Whidbey Island from 2015 to 2016.