San Juans Real Estate Sales Increase 50% From 2019

Posted January 18, 2021 at 5:30 am by

Contributed Photo. Merri Ann Simonson.

By Mer­ri Ann Simon­son, Man­ag­ing Bro­ker, Cold­well Banker San Juan Islands Inc

Holy cow, what a year!

In review­ing the year-end results for 2020, the sales dol­lar vol­ume for the real estate mar­ket in San Juan Coun­ty per the North­west Mul­ti­ple List­ing Ser­vice was $466,709,745 which reflects a sub­stan­tial increase in vol­ume of 55% as com­pared to 2019 when the vol­ume was $299,854,773.

The coun­ty closed an aver­age of 55 trans­ac­tions per month which is a 48% increase over last year.

Total vol­ume on San Juan Island in 2020 was $217,576,869 as com­pared to $139,593,052 in 2019. The increase 56% in vol­ume with an increase of 53% in trans­ac­tion num­ber. The aver­age num­ber of trans­ac­tions per month was 25.
Cold­well Banker San Juan Islands Inc. had an extra­or­di­nary increase of 70%.

Once lodg­ing was allowed in April, buy­ers that lived with­in dri­ving dis­tance flocked to the islands to pur­chase a sec­ond home or safe haven prop­er­ty. COVID, low-inter­est rates, and the abil­i­ty to work from home all fueled the migration.

We had few­er trans­ac­tions but increas­es in vol­ume which equates to more high-end sales occur­ring. The charts below do not include com­mer­cial or mul­ti­fam­i­ly closed sales.

Con­tin­ue read­ing at sanjuanislandslifestyle.com/blog.

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Categories: Real Estate

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