Skagit home prices still rise but sales plunge 18.9% in 2Q

The coronavirus pandemic significantly impacted the number of Skagit County home sales in the second quarter but not their value, according to a local real-estate broker.

 

Only 458 homes sold in Skagit County in the second quarter, down 18.9% from a year ago, according to Shelah Inman of Brown McMillen Real Estate. However, the county’s median sales price kept climbing, up 5.7% to $401,590, she added. Inman prepared the report based on data from the Northwest Washington Multiple Listing Service.

 

Sales volume was wildly mixed in the county in the second quarter, ranging from up 25.8% in Burlington to down 39.1% in Anacortes and down 30.7% in Mount Vernon. Gov. Jay Inslee’s stay-at-home order was announced just before the second quarter on March 23, forcing non-essential businesses to close within 48 hours and resulting in high job losses. It remained until Skagit County entered Phase 2 of Inslee’s Safe Start plan for business reopening on June 5, but the pandemic continues to affect the economy and consumer confidence, Inman said.

 

However, Inman said the county’s five largest cities all recorded solid gains in their median home sales price. Sedro-Woolley experienced the largest percentage gain (13.7%) while Anacortes continues to lead the county with a median sales price of $540,000.

 

“The low number of homes for sale contributes significantly to the rise in median and average sale prices,” Inman said. “Record low inventories are continuing to exacerbate the availability of homes in Skagit County.”

 

The median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale for the county and individual communities for the second quarter of 2020, with percentage comparisons to the second quarter of 2019, follow.

 

Skagit County – Median price, $407,500, up 7.2%; average price, $458,447, up 7.0%; units sold, 458, down 18.9%; DOM, 47, down 11.3%.

Anacortes – Median price, $540,000, up 9.8%; average price, $605,718, up 39.4%; units sold, 84, down 39.1%; DOM, 35, down 46.2%.

Burlington – Median price, $421,062, up 10.5%; average price, $484,595, up 20.9%; units sold, 78, up 25.8%; DOM, 53, up 17.8%.

La Conner – Median price, $405,500, up 4.8%; average price, $413,563, down 3.2%; units sold, 18, down 18.2%; DOM, 41, down 24.1%.

Mount Vernon – Median price, $399,700, up 7.2%; average price, $431,954, up 5.6%; units sold, 160, down 30.7%; DOM, 42, down 4.6%.

Sedro-Woolley – Median price, $363,900, up 13.7%; average price, $386,385, up 9.4%; units sold, 83, up 13.7%; DOM, 40, up 8.1%.

 

Information from:

Shelah Inman

Brown McMillen Real Estate

Cell: (360) 661-0145