2021: Skagit County median home sale price hits $500,000 after 18.5% increase

The median sales price of Skagit County homes rose 18.5% to $500,000 in 2021, fueled by high demand, low inventory and low interest rates, according to managing broker Shelah Inman of Brown McMillen Real Estate in Burlington.

The countywide median home sales price has soared from $204,470 in 2011, the last time it declined in Skagit County, Inman said. The median sales price is the point where half of the home sales are above it and half are below it. Inman prepared her report based on data from the Northwest Washington Multiple Listing Service.

“I don’t expect a similar increase in 2022,” Inman said.  “While demand for Skagit homes will remain strong, higher interest rates and construction costs will limit price increases.”

Anacortes has the highest median price in the county, rising 17.3% in 2021 to $645,000, but La Conner had the highest percentage increase of the county, soaring 33.3% to also hit $500,000. Other Skagit County communities with double-digit percentage increases in their median sales price included Mount Vernon (23.8%), Sedro-Woolley (17.6%) and Burlington (14.9%).

Low inventory is keeping a lid on the number of Skagit County homes sold, which actually dropped 7.2% in 2021, Inman said. However, she added that the time it took to sell the average Skagit home was cut nearly by half to 21 days.

The median sales price, average sales price, number of units sold and average days on the market (DOM) before a sale for Skagit County and individual communities for all of 2021, with percentage comparisons to all of 2020, follow.

Skagit County – Median price, $500,000, up 18.5%; average price, $572,650, up 20.6%; units sold, 1,869, down 7.2%; DOM, 21, down 47.5%.

Anacortes – Median price, $645,000, up 17.3%; average price, $748,734, up 18.0%; units sold, 345, down 12.9%; DOM, 25, down 35.9%.

Burlington – Median price, $485,000, up 14.9%; average price, $571,813, up 16.5%; units sold, 248, down 15.4%; DOM, 18, down 55.0%.

La Conner – Median price, $500,000, up 33.3%; average price, $606,058, up 39.4%; units sold, 77, down 23.0%; DOM, 22, down 62.7%.

Mount Vernon – Median price, $520,000, up 23.8%; average price, $556,423, up 22.5%; units sold, 699, down 5.3%; DOM, 18, down 48.6%.

Sedro-Woolley – Median price, $441,125, up 17.6%; average price, $481,280, up 21.3%; units sold, 348, up 7.4%; DOM, 20, down 41.2%.