If you dream of warm winters and cool summers, modest rainfall, spectacular scenery with eagles and whales, Whidbey Island, about an hour from downtown Seattle, is the place you want to get to, say local Realtors.

"It's the ultimate island lifestyle," says Realtor Nancy Ray, "relaxed, fun, convenient, lots of recreational activities. The Whidbey Island real estate market is very strong. Properties are selling for about 95 percent to 101 percent of the list price."

Says Realtor Regnar B. Kearton, "Whidbey Island is continental America's largest island. One hour from downtown Seattle this "secret place" is a relaxed countryside of friendly neighbors, fir forests and pastures, snow-capped mountains, east and west, wind-swept bluffs and driftwood-covered beaches, pristine air, unpolluted water, low crime and good schools."

Explains Kearton, "Real estate sales activity on Whidbey Island has increased somewhat from last year through year-end 2002. December sales confirm a record year, with record sales volumes and record prices. Most importantly were records set for single-family detached homes (more than 90 percent of our residential sales activity). Well priced homes, whether new or previously built, sell with sufficient time on market.

"For the year just ended," continues Kearton, "final sales prices averaged 87.3 percent of the "original" asking price, island-wide. New 'spec' home sales were strong on North Whidbey, however, they continued to be weak on South Whidbey, as they have been for the past four years. The pace of 'custom' new home construction on South Whidbey though is very strong and has virtually displaced 'spec' construction with the influx of wealthier, more demanding buyers.

"This fifty-mile long island features a mix of small towns, wooded, beach, and prairie, with a city of 20,000 population providing commercial services and big box shopping," says Realtor Pamela Z. Hill.

Provided by Hill, residential market statistics for all of Whidbey Island from 1/1/02 to 1/3/03 are as follows:
2-Bedroom Homes
There are currently 137 Active listings with an average list price of $295,315
There are 19 Pending sales with the average list price of $197,832.
There have been 271 Sold properties with the average list price of $199,771 and average sold price of $192,863.
Average days on market = 103
% of list price = 96.54
3-Bedroom Homes
There are currently 242 Active listings with the average list price of $300,706.
There are 45 Pending sales with the average list price of $206,019.
There have been 553 Sold properties with the average list price of $203,620 and average sold price of $199,122.
Average days on market = 90
% of list price = 97.79
4-Bedroom Homes
There are currently 49 Active listings with the average list price of $584,821.
There are 11 Pending sales with the average list price of $209,550.
There have been 121 Sold properties with the average list price of $230,265 and average sold price of $225,122.
Average days on market = 105
% of list price = 97.77
5+Bedroom Homes
There are 13 Active listings with the average list price of $728,819.
There are 2 Pending sales with the average list price of $185,725.
There have been 11 Sold properties with the average list price of $354,591 and average sold price of $324,259.
Average days on market = 133
% of list price = 91.45

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Published: January 13, 2003

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