Jean Groesbeck & Assoc LLC - Winter 2019 Real News

Real News

Jean Groesbeck

Managing Broker Luxury Home Specialist (360) 941-3734

Winter 2019

809 7th Street Anacortes, WA 98221

Main Office : 4100 194th St SW, Suite 135 Lynnwood, WA 98036

www.JeanGroesbeck.com www.AnacortesRealEstateGuide.com

Sales Soar in 2016

Recent local headlines predicted gloom and doom for the Seattle real estate market based on the fact that inventory doubled. What the headlines didn’t convey is that the absorption rate (as calculated by the number of current listings divided by the number of recent sales per month) reflects low inventory and it continues to be a seller’s market.

Inventory rose from a record low of 1.3 months to only 2.6 months. It is not the buyer frenzy it was, but homes in good condition priced right, sell in days.

If you are currently working with a real estate broker, this is not intended to solicit your business.

The cooling trend is a welcomed relief! Unlike 2009, when the market stopped overnight, this slowing of rapid growth will provide a healthier market.

Happy New Year!

Our winter 2019 newsletter is here. Look inside to find out the real estate market statistics for our area this past year. Curious to find out if the real estate market will change in 2019? We give you our predictions for the local real estate market in 2019. Find out which amazing color made the Pantone color of the year for 2019, and read about 2019 trends!

Across Skagit and Island Counties, the number of transactions were down from 2263 in 2017 to 2066 in 2018, and from 1962 in 2017 to 1870 in 2018 respectively. Once again because of LACK OF INVENTORY. Builders have pulled back a bit, some due to a fear of softening prices. However, larger builders are waiting for zoning changes that will increase density allowing for smaller lots and more homes.

COMPARISON OF SALES 2018 VS. 2017 ANACORTES

We hope you enjoy this edition of Real News. For a digital copy or if you would like additional copies, please contact us at (360) 899-5027 or Info@JeanGroesbeck.com Wishing you success, health and happiness for 2019!

# SALES $ AVERAGE

BOW

BURLINGTON

GUEMES ISL

LA CONNER

MT VERNON

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

440

453

39

53

198

202

15

22

83

112

795

939

$343,373 $353,527

$323,160

$548,536

$463,330 $556,551

$467,853 $348,230 $389,000 $613,031 $514,511 $417,335

$ MEDIAN $489,000 $420,000 $490,000 $389,000 $328,200 $467,853 $485,000 $562,500 $380,000 $272,500 $337,000 $305,000 $ HIGH SALE $3,150,000 $1,650,000 $1,376,500 $2,200,000 $770,000 $2,200,000 $2,500,000 $998,000 $1,750,000 $2,150,000 $1,750,000 $1,390,000

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© Jean Groesbeck & Assoc. LLC

Continued on next page...

...Continued prior page The number of transactions were down in 2018 but the median price and average price for Skagit County were up 11.5% and 14% respectively. The total dollar volume of homes sold in Skagit County in 2018 was $796.6M vs $766.0 in 2017. That was an increase of 4% after two years of very rapid growth.

Here are the current number of months of inventory as of 1/2/2019:

Team Jean Groesbeck was also The #1 Selling Team (units) in both Skagit County and Anacortes in 2018!

We sell more homes than any other broker in the area!

Buyer Representation: Sellers Market

Balanced Market

Buyers Market

4419 Cutter Dr

Anacortes

$1,200,000.00

5611 Sugarloaf

Anacortes

$476,050.00

11320 Marine Dr

Anacortes

$1,150,000.00

2202 22nd St

Anacortes

$475,000.00

2399 Skyline Way # 202W

Anacortes

$1,035,000.00

18758 Kim Place

Burlington

$475,000.00

5268 Island View Way

Bow

$1,000,000.00

4004 H Ave

Anacortes

$470,000.00

1100 A Ave

Anacortes

$900,000.00

909 Chestnut Lp

Mount Vernon $458,000.00

1503 Latitude Cir

Anacortes

$884,673.00

4201 Tyler Way

Anacortes

$454,000.00

13220 Bridgeview Way

Mount Vernon

$810,000.00

9928 Seacrest Ln

Bow

$439,000.00

3817 W 11th

Anacortes

$755,000.00

6112 Parkside Dr

Anacortes

$429,000.00

4318 Navigator Lane

Anacortes

$700,000.00

2401 Skyline Wy # 102E Anacortes

$415,000.00

2920 Oakes Ave

Anacortes

$699,000.00

7106 San Juan Hill Ln

Anacortes

$410,000.00

4219 Marine Heights

Anacortes

$675,000.00

1501 9th St

Anacortes

$386,050.00

3617 W 10th

Anacortes

$660,000.00

3101 V Place #32

Anacortes

$382,500.00

14175 Cove Ct

Anacortes

$650,000.00

2309 17th St

Anacortes

$369,000.00

2019 is likely to follow more historical real estate patterns. The first quarter, the market will experience low inventory favoring sellers and this is typically when homes sell for the highest price. The demand is high, but the inventory is very low. If you are thinking of selling in 2019, or know anyone that is, please contact us now.

1246 Tomren Lane

Oak Harbor

$635,000.00

5407 Kingsway

Anacortes

$365,000.00

1401 Dakota Ave

Anacortes

$620,000.00

3903 J Ave

Anacortes

$361,500.00

2003 27th PL

Anacortes

$595,000.00

3811 37th Dr

Anacortes

$335,000.00

2609 16th St

Anacortes

$525,000.00

3101 V Place#3

Anacortes

$325,000.00

2nd quarter, the inventory will increase and buyers will have more selections. Sellers make the mistake of waiting until their yard looks good...but competition lists then as well. The market typically favors buyers or is a balanced market during the second quarter.

2515 D Ave

Anacortes

$514,000.00

1654 E Polnell Rd

Oak Harbor

$315,000.00

1310 H Ave

Anacortes

$509,900.00

2105 Creekside Ln

Anacortes

$307,000.00

1806 Cay Way

Anacortes

$496,000.00

15374 Dewey Crest Ln

Anacortes

$265,000.00

In the 3rd quarter, homes remaining on the market will need to adjust their price, make improvements or both. From a buyer’s perspective, there is more inventory, but some of the best values may have already sold.

712 38th St

Anacortes

$484,500.00

2102 32nd

Anacortes

$250,000.00

4912 Kingsway

Anacortes

$480,000.00

12404 E Gibson Rd#J205 Everett

4th quarter is usually the strongest quarter for sales of higher-end homes. (The second best time is the first quarter.) Since high-end homes can take longer to sell, it makes sense to list 1st quarter so that the home is on the market for both 1st and 4th quarters.

These are broad generalizations and there are significant differences in seasonality depending on price, location and floor plan. A lack of new construction will benefit all sellers of pre-owned homes, especially those that are newer or that have been remodeled.

Contact us to learn the sales seasonality for your type of home.

2317 Twin Pl

Anacortes

$215,000.00 $95,000.00

Jean Groesbeck & Associates had a very productive year and we want to THANK YOU for helping make our success possible in 2018.

We are proud to announce that Jean Groesbeck was the #1 listing Broker (volume) in both Skagit County and Anacortes in 2018.! Your partnership and friendship is really appreciated. We are most grateful for your trust in our team to make your real estate goals a reality.

Seller Representation: 5374 Quiet Cove

Anacortes

$ 3,150,000.00

6956 Carolina St

Anacortes $ 452,350.00

14589 Dungeness Ln

Anacortes

$ 1,325,000.00

15717 Yokeko

Anacortes $ 435,000.00

6782 Salmon Beach Rd

Anacortes

$ 1,225,000.00

3501 G Ave

Anacortes $ 435,000.00

4302 Marine Heights Wy Anacortes

$ 1,220,000.00

12624 Wedge Wood Dr

Burlington $ 422,000.00

11320 Marine Dr

Anacortes

$ 1,150,000.00

2501 Creekside Ln

Anacortes $ 405,000.00

12636 Chilberg Rd

Mount Vernon $ 1,115,000.00

13240 Burrows View Ln

Anacortes $ 400,000.00

11953 Canyon Ridge Dr

Anacortes

$ 1,070,000.00

1808 Cedar Springs Ln

Anacortes $ 390,000.00

5263 Island View Wy

Bow

$ 1,000,000.00

3101 V Place # 32

Anacortes $ 382,500.00

1100 A Ave

Anacortes

$ 900,000.00

Quiet Cove Rd

Anacortes $ 370,000.00

1609 8th St

Anacortes

$ 850,000.00

2309 17th St

Anacortes $ 369,000.00

18567 W Big Lake

Mount Vernon $ 850,000.00

2110 Creekside Cir

Anacortes $ 365,000.00

6069 Central Ave

Anacortes

$ 750,000.00

9637 Bayview-Edison Rd

Bow

3402 W 8th Pl

Anacortes

$ 725,000.00

816 33rd St

Anacortes $ 349,000.00

4318 Navigator Ln

Anacortes

$ 700,000.00

3713 W 5th St

Anacortes $ 325,000.00

2920 Oakes Ave

Anacortes

$ 699,000.00

3101 V Place #3

Anacortes $ 325,000.00

1418 6th St

Anacortes

$ 650,000.00

3808 W5th St

Anacortes $ 306,000.00

14175 Cove Ct

Anacortes

$ 650,000.00

4310 Blue Heron Cir #204

Anacortes $ 305,000.00

4852 G Loop

Bow

$ 575,000.00

15374 Dewey Crest Ln

Anacortes $ 265,000.00

4511 Kingsway

Anacortes

$ 560,000.00

2517 17th St

Anacortes $ 265,000.00

903 32nd St

Anacortes

$ 530,000.00

2319 Antone Way

Anacortes $ 240,000.00

2609 16th St

Anacortes

$ 525,000.00

4622 Devonshire Dr

Anacortes $ 225,000.00

1707 32nd St

Anacortes

$ 480,000.00

5006 Kingsway

Anacortes $ 200,000.00

4004 H Ave

Anacortes

$ 470,000.00

6015 Pacific Ave

Anacortes $ 170,000.00

4701 Beaver Pond Dr

Mount Vernon $ 460,000.00

5602 Rosario Wy

Anacortes $ 155,000.00

If you know anyone considering a move, please ask if you may give us their information.

By Taby Perron The New Year is here and it is happier and brighter than ever! Well, at least according to PANTONE, who revealed the 2019 color of the year - LIVING CORAL “an animating and life-affirming coral hue with a golden undertone that energizes and enlivens with a softer edge”.

Typically, fashion and home designers follow the color of the year trend, so don’t be surprised to see clothing, shoes and home décor in this colorful and vibrant shade.

Pantone says it selected living coral partly as a way to remind people of "the desired, familiar, and energizing aspects of color found in nature. Living Coral is a nurturing color that appears in our natural surroundings.” We would not recommend LIVING CORAL to paint the exterior of your home, but we do encourage you to have fun with home décor such as accent pillows, rugs and art to refresh your home and add a fabulous pop of color.

$ 365,000.00

2019 will be a year in which Millennials enter the housing market in huge numbers. This generation (which now out numbers baby boomers) has delayed everything including marriage and having children all the while living with their parents.

Since Millennials witnessed the housing downturn 10 years ago, they are wary of being “house poor”. They have also grown up in a more affluent setting than any generation and enjoy an abundance of easy-to-come-by possessions (easy for them). Millennials have spent their 20’s traveling and gathering memories rejecting their parent’s generation’s mantra of “owning a home is the American Dream”. In fact, there is a new Millennial version of Monopoly in which players acquire memories rather than real estate. This real estate broker won’t be buying that game as a gift!

Rising interest rates, more potential inventory, and the ticking of biological clocks will spur these Millennial home buyers into action.

Millennials prefer small, low maintenance homes with plenty of amenities… Many of the same things that Baby Boomers want in home features. Finally the two generations find something that they agree on! www.JeanGroesbeck.com

Prices: Demand in our area will continue to outpace inventory. A recent article on the housing market in Seattle stated that inventory had suffered with price adjustments predicted. The inventory had doubled from 1.3 months to 2.6 months – anything less than 6 months favors the sellers. Worst case scenario, most homes will have more normal 3-5% appreciation, although some product segments will continue double digit appreciation. Homes that need repairs or updating will need to be realistically priced.

Overall, it will be a healthy real estate market in 2019 in our area. A lack of inventory will continue to plague this market except during late Spring, when inventory always peaks.

If you would like to know how the market for your home will be in 2019, give us a call, (360) 899-5027 or (360) 941-3734

By Jean Groesbeck Market dynamics in all industries are becoming more complex to predict due to global influences and interactive economic dynamics. An over abundance of information can create analysis-paralysis and well respected analysts give conflicting opinions. So it is no wonder home buyers find the decision process more difficult. We have sorted through local housing markets trends and the market response to global, national and local influences.

These are the trends that impacted buyer behavior in 2018 that will likely continue through the end of this decade:

In 2018, home remodelers spent their money on spa-like master bathrooms. In 2019, kitchen remodels are expected to take the lead.

Some of the upcoming trends for 2019 have been slowly evolving for the last decade, and have become established out of perceived necessity. An example of this is home designs that incorporate two kitchens.

Rising Interest Rates: Rates have been kept low but will continue to gradually creep up. Overall, rates are approximately 1% higher than a year ago. Buyers considering moving up, or relocating, consider not only the new principal payment based on a higher price, but a loan at a higher rate. This might prevent some discretionary moves. Buyers will be more selective about homes they purchase in 2019.

In the old days in England, a scullery was a room in the house used for washing dishes as well as storage and work space.

These rooms therefore had a sink—also used for a wash basin. A pantry was used for dish and flatware storage. Because the family silver was often stored in the pantry, butlers would sleep there to guard the valuables, hence the term butler’s pantry.

King and Snohomish Immigrants: Dramatic increases in taxes, snail-paced traffic, and a decline in the quality of life in King and Snohomish Counties will continue to lead to an increasing migration north. The increasing ability to tele-commute coupled with the opening of commercial flights out of Everett will lead to younger working professionals moving into our area. These younger home buyers will be able to afford luxury homes, but high speed internet will be essential. Fiber optics will make our area even more attractive.

During the post WWII housing boom, the American dream of owning a home did not include such luxuries. As open floor plans have become more popular, home owners have found the need to have a sleek and clean kitchen resulting in the need for hidden storage spaces or a storage room. A version of butler's pantries are now common in higher-end homes.

Millennials: They will finally buy a home! Having lived with mom and dad a decade longer than Baby Boomers did, Millennials have finally saved enough money and are thinking of purchasing a home. Their empty nester parents will also think about downsizing but probably won’t do it until 2020.

With the current wide range of small appliances and unique cookware used in popular multi-national and/or healthy cooking techniques, butler’s pantries are desired. The 2019 version is not just storage space off of the kitchen but can be second kitchens with sinks, a second set of appliances and customized storage with appliance shelves and charging stations. The entertaining kitchen has sexier appliances such as built-in espresso machines, coffee bean roasters, multiple wine coolers, warming lamps, juicers, professional blenders, steamers, self-serve stations and more.

New Construction: The cost of building materials has sky rocketed! The shortages of raw materials created by the housing boom will continue through 2019 fueled by an increasing population and by the tens of thousands of homes lost in natural disasters. New home prices will remain very high encouraging more people to stay in place and remodel. Sellers with homes that are up-to-date will have a significant advantage.

For those that can’t afford, or do not need two kitchens, sliding walls that close off kitchens will continue to gain popularity. There are predictions that there will be trends toward bright colored appliances, but I don’t recommend you give into this trend. Appliances are expensive to change and the trend might be short-lived. Voice activated appliances, or appliances run by an app will become more popular with consumers as well as more affordable.

Out of State Migrations: Tornadoes, Fires, Floods, Earthquakes and Hurricanes will continue to lead to an influx of home buyers from out of state. Our beautiful Northwest has very few natural disasters.

Continued on next page...

© Jean Groesbeck & Assoc. LLC

Prices: Demand in our area will continue to outpace inventory. A recent article on the housing market in Seattle stated that inventory had suffered with price adjustments predicted. The inventory had doubled from 1.3 months to 2.6 months – anything less than 6 months favors the sellers. Worst case scenario, most homes will have more normal 3-5% appreciation, although some product segments will continue double digit appreciation. Homes that need repairs or updating will need to be realistically priced.

Overall, it will be a healthy real estate market in 2019 in our area. A lack of inventory will continue to plague this market except during late Spring, when inventory always peaks.

If you would like to know how the market for your home will be in 2019, give us a call, (360) 899-5027 or (360) 941-3734

By Jean Groesbeck Market dynamics in all industries are becoming more complex to predict due to global influences and interactive economic dynamics. An over abundance of information can create analysis-paralysis and well respected analysts give conflicting opinions. So it is no wonder home buyers find the decision process more difficult. We have sorted through local housing markets trends and the market response to global, national and local influences.

These are the trends that impacted buyer behavior in 2018 that will likely continue through the end of this decade:

In 2018, home remodelers spent their money on spa-like master bathrooms. In 2019, kitchen remodels are expected to take the lead.

Some of the upcoming trends for 2019 have been slowly evolving for the last decade, and have become established out of perceived necessity. An example of this is home designs that incorporate two kitchens.

Rising Interest Rates: Rates have been kept low but will continue to gradually creep up. Overall, rates are approximately 1% higher than a year ago. Buyers considering moving up, or relocating, consider not only the new principal payment based on a higher price, but a loan at a higher rate. This might prevent some discretionary moves. Buyers will be more selective about homes they purchase in 2019.

In the old days in England, a scullery was a room in the house used for washing dishes as well as storage and work space.

These rooms therefore had a sink—also used for a wash basin. A pantry was used for dish and flatware storage. Because the family silver was often stored in the pantry, butlers would sleep there to guard the valuables, hence the term butler’s pantry.

King and Snohomish Immigrants: Dramatic increases in taxes, snail-paced traffic, and a decline in the quality of life in King and Snohomish Counties will continue to lead to an increasing migration north. The increasing ability to tele-commute coupled with the opening of commercial flights out of Everett will lead to younger working professionals moving into our area. These younger home buyers will be able to afford luxury homes, but high speed internet will be essential. Fiber optics will make our area even more attractive.

During the post WWII housing boom, the American dream of owning a home did not include such luxuries. As open floor plans have become more popular, home owners have found the need to have a sleek and clean kitchen resulting in the need for hidden storage spaces or a storage room. A version of butler's pantries are now common in higher-end homes.

Millennials: They will finally buy a home! Having lived with mom and dad a decade longer than Baby Boomers did, Millennials have finally saved enough money and are thinking of purchasing a home. Their empty nester parents will also think about downsizing but probably won’t do it until 2020.

With the current wide range of small appliances and unique cookware used in popular multi-national and/or healthy cooking techniques, butler’s pantries are desired. The 2019 version is not just storage space off of the kitchen but can be second kitchens with sinks, a second set of appliances and customized storage with appliance shelves and charging stations. The entertaining kitchen has sexier appliances such as built-in espresso machines, coffee bean roasters, multiple wine coolers, warming lamps, juicers, professional blenders, steamers, self-serve stations and more.

New Construction: The cost of building materials has sky rocketed! The shortages of raw materials created by the housing boom will continue through 2019 fueled by an increasing population and by the tens of thousands of homes lost in natural disasters. New home prices will remain very high encouraging more people to stay in place and remodel. Sellers with homes that are up-to-date will have a significant advantage.

For those that can’t afford, or do not need two kitchens, sliding walls that close off kitchens will continue to gain popularity. There are predictions that there will be trends toward bright colored appliances, but I don’t recommend you give into this trend. Appliances are expensive to change and the trend might be short-lived. Voice activated appliances, or appliances run by an app will become more popular with consumers as well as more affordable.

Out of State Migrations: Tornadoes, Fires, Floods, Earthquakes and Hurricanes will continue to lead to an influx of home buyers from out of state. Our beautiful Northwest has very few natural disasters.

Continued on next page...

© Jean Groesbeck & Assoc. LLC

...Continued prior page The number of transactions were down in 2018 but the median price and average price for Skagit County were up 11.5% and 14% respectively. The total dollar volume of homes sold in Skagit County in 2018 was $796.6M vs $766.0 in 2017. That was an increase of 4% after two years of very rapid growth.

Here are the current number of months of inventory as of 1/2/2019:

Team Jean Groesbeck was also The #1 Selling Team (units) in both Skagit County and Anacortes in 2018!

We sell more homes than any other broker in the area!

Buyer Representation: Sellers Market

Balanced Market

Buyers Market

4419 Cutter Dr

Anacortes

$1,200,000.00

5611 Sugarloaf

Anacortes

$476,050.00

11320 Marine Dr

Anacortes

$1,150,000.00

2202 22nd St

Anacortes

$475,000.00

2399 Skyline Way # 202W

Anacortes

$1,035,000.00

18758 Kim Place

Burlington

$475,000.00

5268 Island View Way

Bow

$1,000,000.00

4004 H Ave

Anacortes

$470,000.00

1100 A Ave

Anacortes

$900,000.00

909 Chestnut Lp

Mount Vernon $458,000.00

1503 Latitude Cir

Anacortes

$884,673.00

4201 Tyler Way

Anacortes

$454,000.00

13220 Bridgeview Way

Mount Vernon

$810,000.00

9928 Seacrest Ln

Bow

$439,000.00

3817 W 11th

Anacortes

$755,000.00

6112 Parkside Dr

Anacortes

$429,000.00

4318 Navigator Lane

Anacortes

$700,000.00

2401 Skyline Wy # 102E Anacortes

$415,000.00

2920 Oakes Ave

Anacortes

$699,000.00

7106 San Juan Hill Ln

Anacortes

$410,000.00

4219 Marine Heights

Anacortes

$675,000.00

1501 9th St

Anacortes

$386,050.00

3617 W 10th

Anacortes

$660,000.00

3101 V Place #32

Anacortes

$382,500.00

14175 Cove Ct

Anacortes

$650,000.00

2309 17th St

Anacortes

$369,000.00

2019 is likely to follow more historical real estate patterns. The first quarter, the market will experience low inventory favoring sellers and this is typically when homes sell for the highest price. The demand is high, but the inventory is very low. If you are thinking of selling in 2019, or know anyone that is, please contact us now.

1246 Tomren Lane

Oak Harbor

$635,000.00

5407 Kingsway

Anacortes

$365,000.00

1401 Dakota Ave

Anacortes

$620,000.00

3903 J Ave

Anacortes

$361,500.00

2003 27th PL

Anacortes

$595,000.00

3811 37th Dr

Anacortes

$335,000.00

2609 16th St

Anacortes

$525,000.00

3101 V Place#3

Anacortes

$325,000.00

2nd quarter, the inventory will increase and buyers will have more selections. Sellers make the mistake of waiting until their yard looks good...but competition lists then as well. The market typically favors buyers or is a balanced market during the second quarter.

2515 D Ave

Anacortes

$514,000.00

1654 E Polnell Rd

Oak Harbor

$315,000.00

1310 H Ave

Anacortes

$509,900.00

2105 Creekside Ln

Anacortes

$307,000.00

1806 Cay Way

Anacortes

$496,000.00

15374 Dewey Crest Ln

Anacortes

$265,000.00

In the 3rd quarter, homes remaining on the market will need to adjust their price, make improvements or both. From a buyer’s perspective, there is more inventory, but some of the best values may have already sold.

712 38th St

Anacortes

$484,500.00

2102 32nd

Anacortes

$250,000.00

4912 Kingsway

Anacortes

$480,000.00

12404 E Gibson Rd#J205 Everett

4th quarter is usually the strongest quarter for sales of higher-end homes. (The second best time is the first quarter.) Since high-end homes can take longer to sell, it makes sense to list 1st quarter so that the home is on the market for both 1st and 4th quarters.

These are broad generalizations and there are significant differences in seasonality depending on price, location and floor plan. A lack of new construction will benefit all sellers of pre-owned homes, especially those that are newer or that have been remodeled.

Contact us to learn the sales seasonality for your type of home.

2317 Twin Pl

Anacortes

$215,000.00 $95,000.00

Jean Groesbeck & Associates had a very productive year and we want to THANK YOU for helping make our success possible in 2018.

We are proud to announce that Jean Groesbeck was the #1 listing Broker (volume) in both Skagit County and Anacortes in 2018.! Your partnership and friendship is really appreciated. We are most grateful for your trust in our team to make your real estate goals a reality.

Seller Representation: 5374 Quiet Cove

Anacortes

$ 3,150,000.00

6956 Carolina St

Anacortes $ 452,350.00

14589 Dungeness Ln

Anacortes

$ 1,325,000.00

15717 Yokeko

Anacortes $ 435,000.00

6782 Salmon Beach Rd

Anacortes

$ 1,225,000.00

3501 G Ave

Anacortes $ 435,000.00

4302 Marine Heights Wy Anacortes

$ 1,220,000.00

12624 Wedge Wood Dr

Burlington $ 422,000.00

11320 Marine Dr

Anacortes

$ 1,150,000.00

2501 Creekside Ln

Anacortes $ 405,000.00

12636 Chilberg Rd

Mount Vernon $ 1,115,000.00

13240 Burrows View Ln

Anacortes $ 400,000.00

11953 Canyon Ridge Dr

Anacortes

$ 1,070,000.00

1808 Cedar Springs Ln

Anacortes $ 390,000.00

5263 Island View Wy

Bow

$ 1,000,000.00

3101 V Place # 32

Anacortes $ 382,500.00

1100 A Ave

Anacortes

$ 900,000.00

Quiet Cove Rd

Anacortes $ 370,000.00

1609 8th St

Anacortes

$ 850,000.00

2309 17th St

Anacortes $ 369,000.00

18567 W Big Lake

Mount Vernon $ 850,000.00

2110 Creekside Cir

Anacortes $ 365,000.00

6069 Central Ave

Anacortes

$ 750,000.00

9637 Bayview-Edison Rd

Bow

3402 W 8th Pl

Anacortes

$ 725,000.00

816 33rd St

Anacortes $ 349,000.00

4318 Navigator Ln

Anacortes

$ 700,000.00

3713 W 5th St

Anacortes $ 325,000.00

2920 Oakes Ave

Anacortes

$ 699,000.00

3101 V Place #3

Anacortes $ 325,000.00

1418 6th St

Anacortes

$ 650,000.00

3808 W5th St

Anacortes $ 306,000.00

14175 Cove Ct

Anacortes

$ 650,000.00

4310 Blue Heron Cir #204

Anacortes $ 305,000.00

4852 G Loop

Bow

$ 575,000.00

15374 Dewey Crest Ln

Anacortes $ 265,000.00

4511 Kingsway

Anacortes

$ 560,000.00

2517 17th St

Anacortes $ 265,000.00

903 32nd St

Anacortes

$ 530,000.00

2319 Antone Way

Anacortes $ 240,000.00

2609 16th St

Anacortes

$ 525,000.00

4622 Devonshire Dr

Anacortes $ 225,000.00

1707 32nd St

Anacortes

$ 480,000.00

5006 Kingsway

Anacortes $ 200,000.00

4004 H Ave

Anacortes

$ 470,000.00

6015 Pacific Ave

Anacortes $ 170,000.00

4701 Beaver Pond Dr

Mount Vernon $ 460,000.00

5602 Rosario Wy

Anacortes $ 155,000.00

If you know anyone considering a move, please ask if you may give us their information.

By Taby Perron The New Year is here and it is happier and brighter than ever! Well, at least according to PANTONE, who revealed the 2019 color of the year - LIVING CORAL “an animating and life-affirming coral hue with a golden undertone that energizes and enlivens with a softer edge”.

Typically, fashion and home designers follow the color of the year trend, so don’t be surprised to see clothing, shoes and home décor in this colorful and vibrant shade.

Pantone says it selected living coral partly as a way to remind people of "the desired, familiar, and energizing aspects of color found in nature. Living Coral is a nurturing color that appears in our natural surroundings.” We would not recommend LIVING CORAL to paint the exterior of your home, but we do encourage you to have fun with home décor such as accent pillows, rugs and art to refresh your home and add a fabulous pop of color.

$ 365,000.00

2019 will be a year in which Millennials enter the housing market in huge numbers. This generation (which now out numbers baby boomers) has delayed everything including marriage and having children all the while living with their parents.

Since Millennials witnessed the housing downturn 10 years ago, they are wary of being “house poor”. They have also grown up in a more affluent setting than any generation and enjoy an abundance of easy-to-come-by possessions (easy for them). Millennials have spent their 20’s traveling and gathering memories rejecting their parent’s generation’s mantra of “owning a home is the American Dream”. In fact, there is a new Millennial version of Monopoly in which players acquire memories rather than real estate. This real estate broker won’t be buying that game as a gift!

Rising interest rates, more potential inventory, and the ticking of biological clocks will spur these Millennial home buyers into action.

Millennials prefer small, low maintenance homes with plenty of amenities… Many of the same things that Baby Boomers want in home features. Finally the two generations find something that they agree on! www.JeanGroesbeck.com

Real News

Jean Groesbeck

Managing Broker Luxury Home Specialist (360) 941-3734

Winter 2019

809 7th Street Anacortes, WA 98221

Main Office : 4100 194th St SW, Suite 135 Lynnwood, WA 98036

www.JeanGroesbeck.com www.AnacortesRealEstateGuide.com

Sales Soar in 2016

Recent local headlines predicted gloom and doom for the Seattle real estate market based on the fact that inventory doubled. What the headlines didn’t convey is that the absorption rate (as calculated by the number of current listings divided by the number of recent sales per month) reflects low inventory and it continues to be a seller’s market.

Inventory rose from a record low of 1.3 months to only 2.6 months. It is not the buyer frenzy it was, but homes in good condition priced right, sell in days.

If you are currently working with a real estate broker, this is not intended to solicit your business.

The cooling trend is a welcomed relief! Unlike 2009, when the market stopped overnight, this slowing of rapid growth will provide a healthier market.

Happy New Year!

Our winter 2019 newsletter is here. Look inside to find out the real estate market statistics for our area this past year. Curious to find out if the real estate market will change in 2019? We give you our predictions for the local real estate market in 2019. Find out which amazing color made the Pantone color of the year for 2019, and read about 2019 trends!

Across Skagit and Island Counties, the number of transactions were down from 2263 in 2017 to 2066 in 2018, and from 1962 in 2017 to 1870 in 2018 respectively. Once again because of LACK OF INVENTORY. Builders have pulled back a bit, some due to a fear of softening prices. However, larger builders are waiting for zoning changes that will increase density allowing for smaller lots and more homes.

COMPARISON OF SALES 2018 VS. 2017 ANACORTES

We hope you enjoy this edition of Real News. For a digital copy or if you would like additional copies, please contact us at (360) 899-5027 or Info@JeanGroesbeck.com Wishing you success, health and happiness for 2019!

# SALES $ AVERAGE

BOW

BURLINGTON

GUEMES ISL

LA CONNER

MT VERNON

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

2017

440

453

39

53

198

202

15

22

83

112

795

939

$343,373 $353,527

$323,160

$548,536

$463,330 $556,551

$467,853 $348,230 $389,000 $613,031 $514,511 $417,335

$ MEDIAN $489,000 $420,000 $490,000 $389,000 $328,200 $467,853 $485,000 $562,500 $380,000 $272,500 $337,000 $305,000 $ HIGH SALE $3,150,000 $1,650,000 $1,376,500 $2,200,000 $770,000 $2,200,000 $2,500,000 $998,000 $1,750,000 $2,150,000 $1,750,000 $1,390,000

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© Jean Groesbeck & Assoc. LLC

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