Home prices in Anacortes are showing signs of cooling.
The median closing price of a home here dipped in July to $455,000, down from $538,000 a year earlier, according to a report by the Northwest Multiple Listing Service. Year-to-date, the median price dipped to $475,000 from $481,151 during the same period in 2018.
Median price differs from average price in that the median is the price in the very middle, with exactly half of the houses priced for less and half priced for more.
The average closing price also dipped: $531,610 in July, down from $570,730 in July 2018; and $541,903 year-to-date, down from $543,162 during the same period in 2018.
Sales closed on 52 homes in July, compared to 41 in July 2018. Year-to-date, the number of homes sold was relatively unchanged — 272, compared to 271 in the first six months of 2018.
The year-to-date number of total active listings and the average and median listing prices remained unchanged. as well. The average listing price year-to-date was $833,498, down slightly from $834,554 in the same period of 2018. The median asking price was $629,973, up slightly from $625,000.
According to James McCafferty, director of the Center for Economic and Business Research at Western Washington University, real estate sales and prices are being influenced by migration patterns, changes in commuting patterns, wage differentials and cost-of-living shifts.
“There are a lot of shifts happening, and the ebb and flow touches Skagit County,” McCafferty said. Over the next six months, the area also may see the influence of tariff impacts and currency devaluation on the local real estate market, he said.