The following charts are created using MLS data for Island, San Juan, Skagit and Whatcom counties, combined. This data reflects a combination of single family homes, condominiums and manufactured homes. This is a "HIGH LEVEL" view and may not reflect specific cities or neighborhoods.
I make these charts not only for professionals to use, but to share as well. If you are going to use these, please make sure that you do so with the understanding that if you are making any sort of decisions regarding money, real estate, family matters or any other reason, you must do your own research. While I think these stats are really accurate and compelling, just use due diligence and understand that your situation may or may not be appropriate to use these numbers in.
One of the great things about visual data is that it is so easy to share. Please feel free to do so if you see a benefit in doing so. Thank you to the Real Estate Professionals that are already sharing these charts. I totally appreciate it! Please do remember to attribute "San Juan County Appraisal" or "SJC Appraisal".
The Number of Sales/Month has been trending down, as it seasonably normal. Interestingly, it looks like the markets took a breather each July. Both July 2022 and July 2023 showed a decline in volume, with a nice jump the next month. This would generally mean the prior May had fewer pendings. Just an interesting observation. What do you think?
Combined Days on Market is an inverse indicator for Appraisers, to the Number of Sales. Both are indicators of demand to an Appraiser, but they go the opposite direction, so it's important to read and understand what the data is telling us.
The Average List Price to Sale Price Ratio tells an Appraiser where demand is. Definitely, demand was higher in 2022. The Average Sale Price/SF is a very important indicator. It tends to be a more accurate indicator of what the market is actually doing, because it tends to "flatten" the bell curve, as compared to the Average Sale Price chart below. Price/SF tends to lessen the impact of outliers and extremes.
If you have gotten this far, I'm glad you made it. Please leave me a comment below.
Anthony Blackburn is a Certified Real Estate Appraiser at San Juan County Appraisal, serving the San Juan Islands and surrounding mainland counties.
Estate appraisal, tax appeal appraisals, private lending appraisals, divorce appraisals.
I am always available for any real estate appraisal related questions, whether it's my deal or not. I'm always happy to have a conversation. (360) 627-0208 or ablackburn@sjcappraisal.com
You can also find me on social media
Facebook Page: SJC Appraisal
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LinkedIn: https://www.linkedin.com/in/anthony-blackburn-448528/
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