Skagit median home sales price soars 24.5% to $500,000 in 2Q
The median sales price of a Skagit County home soared 24.5% to $500,000 in the second quarter, the first time it has reached a half-million dollars for an entire quarter, according to managing broker Shelah Inman of Brown McMillen Real Estate in Burlington.
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.
The stunning rise in home prices was surpassed by how fast it took to sell a home in Skagit County: only 21 days in the second quarter, half as long as it did a year ago.
“Skagit County buyers know they have to act quickly and in many cases bid over the listing price,” Inman said.
The Anacortes housing market burned the hottest among individual Skagit County communities with a median sales price rising an amazing 29.9% to $701,275. The number of homes sold in the Anacortes market increased a staggering 39.3% over a year ago.
Houses were quickest to sell in Burlington (13 days) and Mount Vernon (14 days) in the second quarter.
However, Inman said low inventory is keeping a lid on the number of homes sold. There were 472 homes sold in Skagit County through the Northwest MLS in the second quarter, only 3.1% more than in 2020.
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 the second quarter of 2021, with percentage comparisons to the second quarter of 2020, follow.
Skagit County – Median price, $500,000, up 24.5%; average price, $575,316, up 26.7%; units sold, 472, up 3.1%; DOM, 21, down 53.3%.
Anacortes – Median price, $701,275, up 29.9%; average price, $794,110, up 31.1%; units sold, 117, up 39.3%; DOM, 22, down 37.1%.
Burlington – Median price, $477,475, up 13.4%; average price, $537,176, up 10.9%; units sold, 70, down 10.3%; DOM, 13, down 75.5%.
La Conner – Median price, $452,500, up 4.7%; average price, $545,732, up 30.4%; units sold, 22, up 22.2%; DOM, 20, down 67.2%.
Mount Vernon – Median price, $495,000, up 23.8%; average price, $530,384, up 22.8%; units sold, 177, up 10.6%; DOM, 14, down 66.7%.
Sedro-Woolley – Median price, $461,000, up 26.7%; average price, $511,570, up 32.4%; units sold, 83, unchanged; DOM, 23, down 42.5%.