Skagit home sale prices rose 7.9% last year

(SKAGIT COUNTY)- The median sales price of a Skagit County home rose 7.9% to $374,500 in 2019, according to Shelah Inman of Brown McMillen Real Estate. Inman prepared a year-end report based on data from the Northwest Washington Multiple Listing Service.

“While not the double-digit gains of 11.3% in 2018 and 11.1% in 2017, we still had strong demand for Skagit County homes in 2019,” Inman said. The changes are even more dramatic when looking at the housing market for the entire decade, Inman added. The Skagit County median home sales price has increased 68.9% since 2010, when the area
was in the midst of the Great Recession.

The Anacortes market continued to have the highest median sales price in 2019, $483,300, although that was 3.3% lower than 2018. The number of Skagit County homes sold in 2019 rose 0.8% to 1,946, led by Mount Vernon with 749 sales. The unit sales are up 89.9% since 2010, Inman said, evidence of a much stronger demand for
housing in the county.

“I see the new decade returning to more moderate levels of price appreciation, about 4% annually in Skagit County,” Inman said. “We still have positive migration into our communities. However, any significant rise in mortgage rates, currently around 3.5%-4.5%, would keep prices in check.”