windermere san juan islands quarterly report
DESCRIPTION
The Windermere San Juan Islands Report* is an analysis of real estate on the main islands within our market. If you are considering buying or selling property, we feel a thorough understanding of our market conditions is critically important to making informed decisions.TRANSCRIPT
The Windermere San Juan Islands Report
Second Quarter 2011
The Windermere San Juan Islands Report* is an analysis of real estate on the main islands within our market. If you are considering buying or selling property, we feel a thorough understanding of our market conditions is critically important to making informed decisions. Although the statistical information contained in this report is accurate for the type of property identified, we believe it is important to have very specific information in your hands based on your unique interests. Working with one of our agents, on whichever island your interest exists, is paramount to a successful outcome. With today’s remarkable information technology, your agent is able to keep you abreast of market changes literally as they occur. Windermere is the preeminent real estate name in the Pacific Northwest and within the real estate communities on each of our islands. Nobody sells more real estate, or represents more buyers in the Islands than Windermere. *All statistical data contained in this report is believed to be accurate and is taken directly from information available through Northwest Multiple Listing Service, but no warranty can be implied. If you are working with a real estate agent, this report is not intended as a solicitation to purchase or sell real estate.
The Windermere San Juan Islands Report
Number on Market* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 186 176 -5.4% 149 18.1% San Juan Island 262 253 -3.4% 189 33.9%
New Listings* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 21 24 14.3% 13 84.6% San Juan Island 30 37 23.3% 22 68.2%
Number Pending* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 3 5 66.7% 3 66.7% San Juan Island 6 5 -16.7% 5 0.0%
Number Sold* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 3 3 0.0% 4 -25.0% San Juan Island 5 5 0.0% 6 -16.7%
Gross Sales Volume/Homes & Condo* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 8,390,000$ 8,226,000$ -2.0% 10,468,000$ -21.4% San Juan Island 13,513,000$ 19,444,000$ 43.9% 22,790,000$ -14.7%
Median Sold Price** 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 380,000$ 338,000$ -11.1% 408,000$ -17.2% San Juan Island 311,000$ 527,000$ 69.5% 376,000$ 40.2%
Selling Price vs. Listed Price %* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 92% 87% -5.4% 83% 4.8% San Juan Island 89% 91% 2.2% 92% -1.1%
Selling Price vs. Org. List Price %* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 83% 76% -8.4% 74% 2.7% San Juan Island 75% 80% 6.7% 71% 12.7%
* Definitions are on page eight of the report
**Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Quarterly Market Statistics Summary Report - Single Family Homes/Condos
The Windermere San Juan Islands Report
Number on Market 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 168 160 -4.8% 155 3.2% San Juan Island 166 167 0.6% 158 5.7%
. .New Listings 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 15 14 -6.7% 6 133.3% San Juan Island 16 10 -37.5% 12 -16.7%
Number Pending 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 2 2 0.0% 1 100.0% San Juan Island 1 3 200.0% 2 50.0%
Number Sold 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 2 1 -50.0% 2 -50.0% San Juan Island 2 3 50.0% 1 200.0%
Gross Sales Volume/Vacant Land 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 1,421,000$ 1,814,000$ 27.7% 1,766,000$ 2.7% San Juan Island 3,610,000$ 2,712,000$ -24.9% 1,166,000$ 132.6%
Median Sold Price* 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 142,000$ 227,000$ 59.9% 177,000$ 28.2% San Juan Island 258,000$ 162,000$ -37.2% 146,000$ 11.0%
Selling Price vs. Listed Price % 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 98% 82% -16.3% 80% 2.5% San Juan Island 79% 86% 8.9% 89% -3.4%
Selling Price vs. Org. List Price % 2nd Quarter 2010 2nd Quarter 2011 Change/Year 1st Quarter 2011 Change/Quarter
Orcas Island 72% 86% 19.4% 51% 68.6% San Juan Island 63% 85% 34.9% 47% 80.9%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Quarterly Market Statistics Summary Report - Vacant Land
The Windermere San Juan Islands Report
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Homes & Condos
050
100150200250300
Number on Market
Orcas Island
San Juan Island05
10152025303540
New Listings
Orcas Island
San Juan Island
01234567
Number Pending
Orcas Island
San Juan Island 01234567
Number Sold
Orcas Island
San Juan Island
$-$5,000,000
$10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000
Gross Sales Volume
Orcas Island
San Juan Island $-$100,000 $200,000 $300,000 $400,000 $500,000 $600,000
Median Sold Price
Orcas Island
San Juan Island
0%20%40%60%80%
100%
Selling vs. Listing Price %
Orcas Island
San Juan Island0%
20%40%60%80%
100%
Selling vs. Original List Price %
Orcas Island
San Juan Island
The Windermere San Juan Islands Report
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Vacant Land
-50
100 150 200 250
Axi
s Ti
tle
Number on Market
Orcas Island
San Juan Island-5
10 15 20
New Listings
Orcas Island
San Juan Island
-2 4 6 8
10
Number Pending
Orcas Island
San Juan Island
-2 4 6 8
10
Number Sold
Orcas Island
San Juan Island
$-$1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000
Gross Sales Volume
Orcas Island
San Juan Island
$-$50,000
$100,000 $150,000 $200,000 $250,000 $300,000
Median Sold Price
Orcas Island
San Juan Island
0%20%40%60%80%
100%
Selling vs. Listing Price %
Orcas Island
San Juan Island0%
20%40%60%80%
100%
Selling vs. Original List Price %
Orcas Island
San Juan Island
The Windermere San Juan Islands Report
Number on Market 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 186 195 174 149 176
San Juan Island 262 275 235 189 253
New Listings 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 21 11 10 13 24
San Juan Island 30 20 12 22 37
Number Pending 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 3 6 4 3 5
San Juan Island 6 6 4 5 5
Number Sold 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 3 4 6 4 3
San Juan Island 5 6 5 6 5
Gross Sales Volume/Residential 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 8,390,000$ 15,144,000$ 10,066,000$ 10,468,000$ 8,226,000$
San Juan Island 13,513,000$ 35,178,000$ 16,998,000$ 22,790,000$ 19,444,000$
Median Sold Price 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 380,000$ 518,000$ 394,000$ 408,000$ 338,000$
San Juan Island 311,000$ 412,000$ 545,000$ 376,000$ 527,000$
Selling Price vs. Listed Price % 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 92% 94% 83% 83% 87%
San Juan Island 89% 95% 92% 92% 91%
Selling Price vs. Org. List Price % 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 83% 90% 64% 74% 76%
San Juan Island 75% 83% 74% 71% 80%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Quarterly Market Statistics Detailed Report - Single Family Homes/Condos
The Windermere San Juan Islands Report
Number on Market 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 168 186 174 155 160
San Juan Island 166 199 186 158 167
New Listings 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 15 12 4 6 14
San Juan Island 15 14 6 12 10
Number Pending 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 2 2 3 1 2
San Juan Island 2 3 3 1 3
Number Sold 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 2 2 3 2 1
San Juan Island 1 3 2 2 3
Gross Sales Volume/Land 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 1,421,000$ 5,204,000$ 4,611,000$ 1,766,000$ 1,814,000$
San Juan Island 3,610,000$ 3,062,000$ 3,642,000$ 1,166,000$ 2,712,000$
Median Sold Price* 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 142,000$ 225,000$ 258,000$ 177,000$ 227,000$
San Juan Island 258,000$ 200,000$ 187,000$ 146,000$ 162,000$
Selling Price vs. Listed Price % 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 98% 82% 89% 80% 82%
San Juan Island 79% 87% 82% 89% 85%
Selling Price vs. Org. List Price % 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 2nd Quarter 2011
Orcas Island 72% 81% 72% 51% 86% San Juan Island 63% 81% 75% 47% 85%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
© 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Quarterly Market Statistics Detailed Report - Vacant Land
Definitions
Number on market - How many properties within the classifications noted that are currently listed for sale. New Listings - Number of newly listed properties that were added during the respective quarter. Number Pending - Properties put into escrow this quarter following an accepted offer, but prior to completion of such sale. Number Sold - How many properties previously shown as "listed" or "pending" that closed escrow during the quarter. Gross Sales Volume - The total dollars of property which closed escrow during the quarter. Median Sold Price - median is described as the numeric value separating the higher half of a population of numbers, from the lower half. This statistic can be highly influenced by several sales of expensive properties. Selling vs. Listing Price % - Percentage of current listing price that the average sale achieved. Selling vs. Original Listing Price % - Some properties experience multiple listing prices, normally declining over the course of each listing. This percentage represents the sale price compared to the first (original) listing price for the properties sold. Windermere Real Estate/Orcas Island, Inc. Windermere Real Estate/San Juan Island 18 Haven Road, P.O. Box 310 100 First Street, P.O. Box 488 Eastsound, WA 98245 Friday Harbor, WA 98250 360-376-8000 360-378-3600