The latest stats tell an interesting story about our 2020 market.
How did our real estate market do in 2020? Here’s what the numbers say.
Snohomish County: The number of unit sales in December 2020 jumped 22% compared to December 2019 from 942 to 1,148. I predicted December would be a good month, but I had no idea it would be that good. This pushed the yearly number of unit sales to 12,367, which is a 5% increase compared to the 11,783 we saw in 2019. That’s a great performance considering COVID-19 caused sales to drop in March, April, and May.
Year over year, the average home price rose almost 11% from $541,000 to just over $600,000, and the average days on market dropped from 33 to 23 days. At the end of the calendar year, there were less than 300 homes available in the Northwest MLS, so when you consider that we averaged 1,100 units sold per month, you can see that inventory is low, and a lot of sales came from non-listed inventory.
Skagit County: The number of unit sales in December 2020 rose almost 30% compared to December 2019 from 139 to 180. Year over year, the number of unit sales rose 3.7% to just over 2,000. The average home price rose 14% year over year, going from $418,000 in 2019 to over $476,000 in 2020. The average days on market, meanwhile, dropped from 46 days in 2019 to 41 days in 2020. At the end of the calendar year, there were just 146 homes available in the Northwest MLS, which means inventory is low here as well.
Camano Island: The number of unit sales in December 2020 rose 11.4% compared to December 2019 from 35 to 39. Year over year, the number of unit sales rose 3.5% from 428 to 443, and the average home price increased 14.5% in that time from $492,000 to $564,000. As with Snohomish and Skagit counties, the average days on market dropped from 48 to 36 days year over year. At the end of the calendar year, there were 65 homes available in the Northwest MLS, which, again, is relatively low.
It’s obvious in today’s real estate market that you’ll need to work with an experienced broker if you’re serious about buying or selling real estate. Most listings are getting multiple offers, and if you’re a seller, I think you’ll be pleasantly surprised at what your home’s worth.
If you’d like to know more about these market areas or want to see the latest numbers from King County, don’t hesitate to call or email me. I’d love to speak with you.