Anacortes’ real estate market started to show the effects of the COVID-19 pandemic in April, with a 24% drop in listings, a 50% drop in pending sales and a nearly 48% drop in closed sales.
That’s according to the Northwest Multiple Listing Service, which tracks real estate data in 23 of 39 Washington counties.
Countywide, Skagit’s real estate market fared better than other counties tracked by the Northwest MLS. Skagit County had the seventh-greatest number of new listings, total active listings and pending sales; the 10th-greatest number of closed sales; and the fifth-highest median closing price ($411,250). Skagit County had 2.32 months of housing inventory, up slightly from 2.2 months in April 2019, the Northwest MLS reported.
Here’s how real estate in Anacortes compared in April to the same month last year: 39 new listings, down from 52; 79 total active listings, down from 104; 29 pending sales, down from 58; and 23 closed sales, down from 44, But the median sales price, $565,000, was up from $475,000 — an increase of 18.95%. April ended with 3.43 months of housing inventory on the market, according to the Northwest MLS.
“It’s clear the Puget Sound housing market has been hit but not knocked out,” Matthew Gardener said in a report issued by the Northwest MLS. He is chief economist for Windermere Real Estate, which has an office in Anacortes. “The normally active spring market is significantly slower than normal due to COVID-19, but it has not come to a halt. In my opinion, it is responding to the current circumstances exactly as expected.”
Mike Grady, president of Coldwell Banker Bain, which has an office in Anacortes, said he expected a more severe decline.
“As we look at the numbers for April, typically one of the most active months in regard to new listings, the impact of COVID-19 on the real estate market is now clear,” he said in the Northwest MLS report. “Although, I personally thought it could have been worse.”