San Juan Island homes selling quicker than last year
Residential home sales on Orcas Island jumped 68% year to date from 22 last year to 37 for 2013. The dollar volume jumped from $8 million to more than $17 million in the same time period.
On San Juan Island, home sales continue to pace last year's numbers with 35 sold YTD in 2013, the same as for the same time period last year. Dollar volume in 2013 is $17,126,000 YTD, it was $18,944,000 YTD in 2012.
The inventory of homes on the market is virtually the same, 197 this year compared to 198 in 2013. What is different is the average days-on-market ticker, which has fallen 19% so far this year from last year.
Gary Franklin, Windermere Real Estate Broker/Partner All Islands provided this report. He says, "With mortgage rates inching upwards and the days-on-market getting tighter, we're optimistic that more buyers will realize that time is of the essence for getting the home they want on the island."
Below are charts of the median prices of homes sold on Orcas Island vs San Juan Island
SAN JUAN ISLAND