The Windermere San Juan Islands Report First 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.
Quarterly Market Statistics Summary Report - Single Family Homes/Condos Number on Market*
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
New Listings*
164 245
17 24
159 206
-0.6% -3.4%
19 30
11.8% 25.0%
10 13
90.0% 130.8%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
Number Sold*
-3.7% -18.8%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
Number Pending*
158 199
4 6
3 5
-25.0% -16.7%
4 4
-25.0% 25.0%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
4 6
4 6
0.0% 0.0%
5 4
-20.0% 50.0%
Gross Sales Volume/Homes & Condo* 1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter Orcas Island San Juan Island
Median Sold Price** Orcas Island San Juan Island
$ $
5,523,000 7,207,000
$ 5,234,000 $ 10,945,000
-5.2% 51.9%
$ 10,066,000 $ 8,799,000
-48.0% 24.4%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter $ $
328,000 379,000
$ $
304,000 445,000
-7.3% 17.4%
$ $
519,000 481,000
-41.4% -7.5%
Selling Price vs. Listed Price %* 1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter Orcas Island San Juan Island
94% 86%
85% 93%
-9.6% 8.1%
80% 88%
6.2% 5.7%
Selling Price vs. Org. List Price %*1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter Orcas Island San Juan Island
83% 71%
76% 76%
-8.4% 7.0%
65% 69%
16.9% 10.1%
* 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 Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Quarterly Market Statistics Summary Report - Vacant Land Number on Market Orcas Island San Juan Island
New Listings
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter 152 145
158 3.9% 165 -4.2% 152 4.8% 164 -7.3% . . 1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
Number Pending
16 8
-43.8% 37.5%
3 6
200.0% 83.3%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
Number Sold
9 11
2 1
1 3
-50.0% 200.0%
2 1
-50.0% 200.0%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter
Orcas Island San Juan Island
1 1
1 1
0.0% 0.0%
3 2
-66.7% -50.0%
Gross Sales Volume/Vacant Land1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter Orcas Island San Juan Island
Median Sold Price* Orcas Island San Juan Island
Selling Price vs. Listed Price % Orcas Island San Juan Island
$ $
2,690,000 429,000
$ $
859,000 583,000
-68.1% 35.9%
$ $
2,306,000 1,821,000
-62.7% -68.0%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter $ $
633,000 190,000
$ $
313,000 146,000
-50.6% -23.2%
$ $
201,000 184,000
55.7% -20.7%
1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter 96% 86%
80% 91%
-16.7% 5.8%
86% 80%
-7.0% 13.8%
Selling Price vs. Org. List Price % 1st Quarter 2010 1st Quarter 2011 Change/Year 4th Quarter 2010 Change/Quarter Orcas Island San Juan Island
66% 86%
50% 59%
-24.2% -31.4%
69% 65%
-27.5% -9.2%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Homes & Condos
New Listings
Number on Market 300 250 200 150 100 50 0
Orcas Island San Juan Island
35 30 25 20 15 10 5 0
Number Pending 8 7 6 5 4 3 2 1 0
San Juan Island
8 7 6 5 4 3 2 1 0
Gross Sales Volume
Orcas Island San Juan Island
Median Sold Price
Orcas Island San Juan Island
$600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
Selling vs. Listing Price % 100% 80% 60% 40% 20% 0%
San Juan Island
Number Sold
Orcas Island
$12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $-
Orcas Island
Orcas Island San Juan Island
Selling vs. Original List Price %
Orcas Island San Juan Island
Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
100% 80% 60% 40% 20% 0%
Orcas Island San Juan Island
Vacant Land Statiscal Charts
Axis Title
Number on Market
New Listings 20
250 200 150 100 50 -
Orcas Island San Juan Island
15
Orcas Island
10 5
San Juan Island
-
Number Pending 10 8 6 4 2 -
Number Sold Orcas Island San Juan Island
10 8 6 4 2 -
Orcas Island San Juan Island
Median Sold Price
Gross Sales Volume $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-
Orcas Island
San Juan Island
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
Selling vs. Listing Price % 100% 80% 60% 40% 20% 0%
Orcas Island
San Juan Island
Selling vs. Original List Price % Orcas Island San Juan Island
100% 80% 60% 40% 20% 0%
Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
Orcas Island San Juan Island
Quarterly Market Statistics Detailed Report - Single Family Homes/Condos Number on Market
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island San Juan Island New Listings
164 245 1st Quarter 2010
Orcas Island San Juan Island Number Pending
1st Quarter 2010
1st Quarter 2010
Orcas Island San Juan Island Selling Price vs. Listed Price % Orcas Island San Juan Island
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
18 26
11 16
10 13
19 30
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
3 7
7 5
4 4
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
4 5
4 7
5 4
4 6
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
1st Quarter 2011 3 5 1st Quarter 2011
$
5,523,000
$
4,195,000
$
7,572,000
$
10,066,000
$
5,234,000
$
7,207,000
$
6,757,000
$
10,018,000
$
8,799,000
$
10,945,000
1st Quarter 2010
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
$ $
$ $
$ $
$ $
$ $
328,000 379,000
1st Quarter 2010
464,000 281,000
2nd Quarter 2010
379,000 486,000
3rd Quarter 2010
519,000 481,000
4th Quarter 2010
304,000 445,000
1st Quarter 2011
94%
91%
92%
80%
85%
86%
91%
96%
88%
93%
Selling Price vs. Org. List Price %1st Quarter 2010 Orcas Island San Juan Island
158 199
4 6
Gross Sales Volume/Residential 1st Quarter 2010
Median Sold Price
159 206
4 6
Orcas Island San Juan Island
Orcas Island San Juan Island
152 260
17 24
Orcas Island San Juan Island Number Sold
193 261
83% 71%
2nd Quarter 2010 87% 81%
3rd Quarter 2010 80% 82%
4th Quarter 2010
1st Quarter 2011
65% 69%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
76% 76%
Quarterly Market Statistics Detailed Report - Vacant Land Number on Market
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island San Juan Island New Listings
152 145
16 8
12 19
2 2
158 152
10 9
3 6
9 11
2 1
2 4
2 1
1 3
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island San Juan Island Gross Sales Volume/Land
165 164
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island San Juan Island Number Sold
187 192
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island San Juan Island Number Pending
173 171
1 1
2 2
3 3
3 2
1 1
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island
$
2,690,000
$
711,000
$
2,602,000.00
$
2,306,000
$
859,000
San Juan Island
$
429,000
$
1,805,000
$
1,531,000
$
1,821,000
$
583,000
Median Sold Price*
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011
Orcas Island
$
633,000
$
162,000
$
259,000
$
201,000
$
313,000
San Juan Island
$
342,000
$
154,000
$
198,000
$
184,000
$
146,000
Selling Price vs. Listed Price % Orcas Island San Juan Island Selling Price vs. Org. List Price % Orcas Island San Juan Island
1st Quarter 2010 2nd Quarter 2010 3rd Quarter 2010 4th Quarter 2010 1st Quarter 2011 96%
96%
83%
86%
80%
86%
80%
86%
80%
91%
1st Quarter 2010
2nd Quarter 2010 3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
66%
80%
82%
69%
40%
86%
59%
84%
65%
59%
*Sales prices whether average or median are significantly affected by the small number of sales contributing to the data
Š 2011 - Windermere Real Estate/Orcas Island and Windermere Real Estate/San Juan Island
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. 18 Haven Road, P.O. Box 310 Eastsound, WA 98245 360-376-8000
Windermere Real Estate/San Juan Island 100 First Street, P.O. Box 488 Friday Harbor, WA 98250 360-378-3600