Real estate activity is increasing on Whidbey Island, Continental America's largest island about an hour from downtown Seattle, Washington, say local Realtors.
"If you dream of a mild Pacific Northwest with warm winters and cool summers, modest rainfall, spectacular scenery with eagles and whales, this could be the place you've been trying to get to," says Realtor Regnar R.B. Kearton. "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."
Kearton explains, "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 the market. For the year just ended, 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."
Says Realtor Nancy Ray, "The Whidbey Island real estate market is very strong. Properties are selling for about 95 percent to 101 percent of the list price.
"In line with the rest of Western Washington real estate, the Central and South Whidbey Island market is busy," Ray explains. "Since August of 2002, 221 homes have been sold. These homes sold at an average of 97 percent of the list price. The highest number of home sales, 48, were in the $150,000-$200,000 price range. The next highest number, 40, were in the $100,000-$150,000 price range. In the higher price ranges, the highest number of homes sold was 24 between $325,000-$400,000. These homes were on the market an average of 130 days, except for two price ranges that averaged 74 days, $100,000-$150,000 and $450,000-$500,000.
"There are currently 255 homes for sale on Central and South Whidbey Island: 23 at $70,000 - $150,000; 39 at $150,000 - $200,000; 27 at $200,000 - $250,000; 28 at $250,000 - $300,000; 33 at $300,000 - $400,000; 18 at $400,000 - $500,000; 40 at $500,000 - $750,000; and 24 at $750,000 - $3,900,000."
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Published: January 30, 2003
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