Happy New Year Everyone! It will be a few days before we have the official count on home sales for 2010, but I have some preliminary statistics that will give us a good idea of how the market did here on Whidbey Island: For Whidbey Island as a whole, we had about 682 homes sold in 2010, compared to 710 in 2009 (includes single family homes, condominiums, & manufactured homes). So 2010 sales numbers are down by about 4% from 2009 numbers.
The Median Sale Price for Whidbey Island was $249,975 in 2010, compared to $250,450 for 2009. Statistically, that means home prices have decreased an almost insignificant amount in the past year (barely 2/10 of 1%). This is actually good news, because hopefully it indicates a leveling, or bottoming out for the Whidbey Island real estate market.
The Average Days on Market for homes sold in 2010 decreased to 129 days, from 137 days for homes sold in 2009, which may be another positive indicator for the real estate market on Whidbey Island.
We’ll have more official data for you later this week, and we’ll be analyzing the data here throughout the month. Stay Tuned!