San Juan County Faces Low Housing Inventory As Pandemic’s Demand For Rural Relocation Grows

Posted April 12, 2021 at 5:30 am by

San Juan County Dips 55% In Inventory, Grow 39% In Pending Sales


Contributed Photo. Merri Ann Simonson.

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

The first-quar­ter results for San Juan Coun­ty and San Juan Island main­tained the momen­tum that was present dur­ing last year.

As com­pared to the first quar­ter in 2020,  the data for both the coun­ty and San Juan Island reflects an increase in vol­ume and trans­ac­tion num­bers for the peri­od end­ing March 31, 2021.

San Juan County’s dol­lar vol­ume is up 52% with the num­ber of trans­ac­tions up 37%. San Juan Island’s dol­lar vol­ume is up 46% with the num­ber of trans­ac­tions up 28%.

Cold­well Banker San Juan Islands Inc. is up 30% for the first quar­ter as well. The first quar­ter is always volatile and not nec­es­sar­i­ly a direct reflec­tion of how the year will fin­ish out.

How­ev­er, we con­tin­ue to note the demand from buy­ers desir­ing to relo­cate to rur­al areas, work from their homes and avoid the high-den­si­ty met­ro­pol­i­tan loca­tions. The show­ing activ­i­ty is nor­mal for this time of year, but the inven­to­ry is crit­i­cal­ly low.

The client leads from the plat­forms such as Zil­low, Tru­lia, and are orig­i­nat­ing at a sim­i­lar pace to last year, at this time.

As of April 5, the total inven­to­ry for the coun­ty is 212 for all types of prop­er­ties, exclud­ing busi­ness oppor­tu­ni­ties. Of that total, 84 are pend­ing and in escrow.

Active list­ings of 128 equal a sup­ply of less than two per month for the coun­ty. The total inven­to­ry on San Juan Island was 94 for all types, with 40 of those pend­ing and in escrow.

The pend­ing trans­ac­tion num­bers are up as com­pared to last year, same time and inven­to­ry totals are down.

The coun­ty is down 55% in inven­to­ry and up 39% in the num­ber of pend­ing trans­ac­tions. San Juan is down 53% in inven­to­ry and up 66% in the num­ber of pend­ing transactions.

It has been very dif­fi­cult for agents to orig­i­nate new list­ings as many of our sell­ers do not have the abil­i­ty to pur­chase in a new location.

Our typ­i­cal sell­er is 65–85 years of age and desires to relo­cate to be clos­er to fam­i­ly mem­bers or near health facilities.

If they sell now, which may be the top of our mar­ket, many of the pop­u­lar mar­kets around Seat­tle are very chal­leng­ing for buy­ers. The met­ro­pol­i­tan areas have mul­ti­ple offers with esca­lat­ing prices and one needs to be a cash buy­er with very few or no con­tin­gen­cies to be successful.


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Categories: Real Estate

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