The Anacortes real estate market continued to be battered by the economy last month. Home sales took a significant hit in October, according to statistics from the Northwest Multiple Listing Service.
October saw only 16 homes sold in Anacortes, about half the 30 that were listed as sold a year earlier. That’s 16 sold out of 259 listed for sale. September saw 22 homes sold in Anacortes.
Local broker Jean Grosbeck used the term “sad” after taking a look at the new statistics. She added “Year to date we have only had 207 transactions this year vs. 280 last year, amounting to 26% fewer transactions.”
Grosbeck managed to find a bright spot in the price of homes sold here. Last month, the average selling price was $443,000, compared with $405,000 a year earlier.
In addition to the homes that were sold, 9 more were listed as pending in October, compared with 26 listed as pending a year earlier.
The average price per square foot so far this year amounts to $201.29 vs. $214.12 for the first 10 months of last year. Grosbeck said “Part of this is influenced by the fact that we have fewer new homes sold as builders have pulled back. Pre-owned
homes sell for less/square foot than the identical product that is new.”
Another measure of the market is how it took homes to sell. NWMLS reported that, in Anacortes, homes that did sell took an average of 119 days in October, significantly longer than the 88 days reported in October of last year.