After many years of steadily increasing prices, low inventory and multiple offers, we have finally seen the market slow down slightly. Whether this is a common seasonal swing as homebuyers and sellers take a break for the holidays, or a historical cycle coming to fruition, as we have reached year 10 out of a 7-10 year cycle, it is unknown until the summer months.
Median prices started in Stanwood in 2018 at $400,000, dipped to $371,975, reached $450,000 in July, and ended the year at $450,000. This is a very common Western Washington market as we are heavily influenced by weather.
On Camano Island, median prices started at $390,000, reached $463,950 in the summer and ended at a low at $355,000. This is not as common for a standard seasonal cycle. Camano Island’s price trend may be giving some insight to our future market.
With expectations for 2020 as our next crash, and interest rates steadily increasing, now could be the easiest time to transition into your next home. Prices tend to rise into the summer months, so if you are looking to buy, now is a great time. If you are looking to sell and rent, and are prepared to risk seeing what happens to the market, you may consider waiting until the summer.
Keep in mind listing at the right time is only a piece of the puzzle. Remember, your presence on the market, presentation and promotion is a huge part of selling your home. I visit each of my seller’s homes for 3 hours giving a list of “To Dos” with the least amount out of pocket that will result in the highest net profits. Additionally, I edit my professional pictures I pay for on your home to ensure each picture will bring in the most buyers.
Don’t make the mistake of listing with someone who does not take pride in their product. Your satisfaction is my future. 😉
Hope to hear from you if I can be of service this year! Have a HAPPY NEW YEAR!
Kenzie Kipper, SRES, ABR
Residential & Commercial Real Estate Broker
Want to get started on your search? Contact Kenzie for assistance or VIEW CURRENT LISTINGS HERE