Skagit County home sale prices hold steady in 2Q

The demand for homes in Skagit County kept their prices in the second quarter similar to a year ago, but the jump in interest rates since then continues to affect the number of homes being sold.

The median price of Skagit County homes sold in the second quarter was $570,000, a dip of only 0.7% from 2022. according to managing broker Shelah Inman of Brown McMillen Real Estate in Burlington. Inman prepared a report based on data from the Northwest Multiple Listing Service.

Anacortes maintains the highest median price in the county of $803,000, up 0.4%.

Only 382 Skagit homes were sold in the second quarter, down 27.5% from last year’s second quarter.

“After the dramatic increases in home prices the last several years, it’s healthy for the market to pause and catch its breath,” Inman said. “Demand is still high and both buyers and sellers are finding alternative ways of making payments affordable despite higher interest rates.”

Among individual Skagit County communities, La Conner stood out in the second quarter, Inman said. Its median price soared 41.9% to $610,000 and the number of homes sold jumped 40%.

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 2023, with percentage comparisons to the second quarter of 2022, follow.

Skagit County – Median price, $570,000, down 0.7%; average price, $653,928, up 3.4%; units sold, 382, down 27.5%; DOM, 39, up 178.7%.

Anacortes – Median price, $803,500, up 0.4%; average price, $907,377, up 2.0%; units sold, 88, down 12.9%; DOM, 42, up 147.1%.

Burlington – Median price, $548,000, up 0.3%; average price, $556,444, down 7.2%; units sold, 43, down 28.3%; DOM, 36, up 176.9%.

La Conner – Median price, $610,000, up 41.9%; average price, $634,614, up 16.5%; units sold, 38, up 40%; DOM, 56, up 211.1%.

Mount Vernon – Median price, $564,250, down 1.2%; average price, $608,999, up 1.6%; units sold, 136, down 20.5%; DOM, 24, up 118.2%.

Sedro-Woolley – Median price, $486,225, down 5.1%; average price, $543,932, up 1.2%; units sold, 56, down 49.1%; DOM, 50, up 257.1%.