Skagit County median home price rises 14% to $535,000
Double-digit increases in the prices of sold homes were prevalent in the first quarter throughout Skagit County, according to managing broker Shelah Inman of Brown McMillen Real Estate in Burlington.
The median sales price of a Skagit County home rose to $535,000 in the first quarter, up 14% from 2021, Inman said. The highest median price in the county continues to be found in Anacortes, where it rose 25.8% to $765,000.
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.
However, low inventory still limits the number of homes sold. Home sales fell 10% countywide, Inman said, led by drops of 40.6% in Mount Vernon, 30.4% in Anacortes and 26.5% in Burlington. However, home sales rose in Sedro-Woolley by 27.9% and in La Conner by 33.3%.
“Even with rising mortgage rates, they’re still relatively low and not yet dampening demand for Skagit County homes,” Inman said.
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 first quarter of 2022, with percentage comparisons to the first quarter of 2021, follow.
Skagit County – Median price, $535,000, up 14.0%; average price, $595,499, up 12.0%; units sold, 350, down 10.0%; DOM, 28, up 16.7%.
Anacortes – Median price, $765,000, up 25.8%; average price, $800,895, up 17.7%; units sold, 55, down 30.4%; DOM, 31, up 6.9%.
Burlington – Median price, $524,000, up 16.3%; average price, $574,188, up 13.6%; units sold, 36, down 26.5%; DOM, 27, up 58.8%.
La Conner – Median price, $515,000, up 20.5%; average price, $606,122, up 38.6%; units sold, 16, up 33.3%; DOM, 30, up 114.3%.
Mount Vernon – Median price, $540,000, up 23.4%; average price, $595,273, up 22.9%; units sold, 117, down 40.6%; DOM, 20, unchanged.
Sedro-Woolley – Median price, $523,727, up 19.2%; average price, $559,456, up 20.3%; units sold, 87, up 27.9%; DOM, 28, up 21.7%.