Continued Evidence of a Balanced Real Estate
Market in Our Local Area
(*Source Windermere Stanwood Camano)
As we dive into 2019 in Stanwood and Camano Island, we are continuing to see signs of a balanced real estate market. These three points were taken from Matthew Gardner’s economic forecast last month, and are ringing true in our local market:
1. Single Family home prices will rise in 2019, but the rate of growth is trending lower.
|Area||2019 Price Forecast|
In January 2019 compared to January 2018, we have seen year over year price growth of .5% on Camano island and 2% in Stanwood. As the year continues, that number is likely to increase.
2. Regional economic growth will still drive housing demand.
3. The big story for 2019 will be the ongoing move towards a balanced market.
We have seen this move towards a balanced market in our January numbers for Stanwood and Camano Island. As we reported last month, Camano Island had 2.6 months supply of inventory (MSI) at year end and at the end of January it rose to 3.4 months. Stanwood had 3.7 MSI at year end and is now 5.1. A true balanced market.
To read in-depth statistics from January 2019, click on the links below.
To read in-depth statistics from December 2018, click on the links below.