By Erin Holdgate
You’ve heard it dozens of times: Real estate is all about location, location, location.
Whether you consult online forums or chat with potential new neighbors, research is a must when choosing your new home. The last thing you want after moving is to discover the neighborhood harbors some unpleasant surprises.
Here’s what you should know about the housing market and local communities if you’re planning to move to Skagit Valley.
Anacortes is a thriving coastal town beloved by both tourists and year-round residents. It is so desirable, in fact, that home values in Anacortes increased nearly 10.5 percent in the past 12 months and are predicted to rise an additional 7.8 percent within the next year. For reference, the national median home value increased just 6.8 percent in the last year. Living in Anacortes offers an island-like lifestyle, which comes with higher listing prices and competition for buyers. Right now, sellers in Anacortes are listing their homes for more than their estimated values. The median price of Anacortes listings is $449,000, nearly $63,000 higher than the median home value of $386,100.
In addition to the annual Tulip Festival, one of Skagit Valley’s biggest claims to fame, Mount Vernon is home to a healthy real estate market and rising home values. The median home value in Mount Vernon is $292,500, which is nearly 10 percent higher than it was 12 months ago and predicted to grow by another 5.8 percent throughout the next year. At $299,000, the median price of listings in Mount Vernon is similar to the community’s median home value. This is great news for buyers since future home value growth would lead to resale profits.
Opposite the Skagit River from Mount Vernon lies Burlington, a tight-knit community with a history rooted in agriculture and farming. Despite being about a third of the size of Mount Vernon, Burlington’s home values are rising at an equal rate—9.7 percent during the past year. The median home value is $268,100, but homes for sale in Burlington are listed slightly higher. As with Mount Vernon, the median listing price is $299,000.
The historic town of La Conner is central to many Skagit Valley traditions and community events, like the annual Tulip Festival. Although La Conner’s population is less than 1,000, its real estate market is growing at a rate similar to larger communities in Skagit Valley. The median home value in La Conner, which is $303,800, rose by nearly 11 percent throughout the past year, and is expected to grow by another 5.3 percent during the next year. At $285,000, the median price of La Conner listings is slightly less than listings in Mount Vernon and Burlington.
The town of Sedro-Woolley is a bit larger than Burlington, but listing prices here are about $50,000 lower. In addition, Sedro-Woolley home values grew at a faster rate, 10.9 percent in the past 12 months. The median price of homes for sale in Sedro-Woolley is $249,900, similar to the city’s median home value, which is $234,700. Buyers can anticipate resale profits in the future, as home values are expected to grow another 6.4 percent by next summer.
As you head east into the valley, populations quickly decrease, but the quality of life and sense of community remain rich. The town of Concrete is home to fewer than 800 people, but it’s no less important to the Skagit Valley community. Concrete home values skyrocketed 16.2 percent throughout the past year, the highest rate of growth in the Skagit Valley area. Even after such growth, the median home value in Concrete, $177,500, is predicted to rise another 6.3 percent within the next year. The median listing price of homes in Concrete is unavailable, but the numerous listings hover near the median value.
From farmland to waterfront property, Skagit Valley offers a unique northwestern lifestyle, and buyers are interested. Home values and listing prices throughout the area continue to rise, but for good reason. Continue exploring why Skagit Valley could be your next home.