It's no surprise that the housing market in Skagit County is perking right along. Like its neighbors to the south, Skagit County is experiencing a shortage of homes available for sale and increased buyer activity! This bodes well for those who want to make a change due to a need for more space, less space, or just different space. The median selling price in the first quarter of 2020 is up a whopping 11% over the first quarter of last year.
There is good news for buyers in Skagit County as well. As of this morning, the interest rate for a typical 30 year mortgage is in the mid 3% range according to Bankrate.com. Actual rates will depend upon credit score, debt ratios, and other loan considerations. Regardless, with mortgage interest rates well below 4%, buyers can buy more home now than just about anytime in recent history.
Here is a summary of the Skagit County market for the month of March. Month to date and year to date data are provided for single family residences and condominiums. If you have any questions about the market or any other real estate topic, please feel free to contact me.