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 Quarterly Market Statistics Summary Report - Single Family Homes/Condos Number on Market*
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
New Listings*
186 262
Number Pending*
21 30
Number Sold*
3 6
3 5
Median Sold Price** Orcas Island San Juan Island
Selling Price vs. Listed Price %*
$ $
$ $
$ $
380,000 $ 311,000 $
83% 75%
1st Quarter 2011
Change/Quarter
14.3% 23.3%
13 22
84.6% 68.2%
Change/Year
1st Quarter 2011
Change/Quarter
66.7% -16.7%
3 5
66.7% 0.0%
Change/Year
1st Quarter 2011
Change/Quarter
0.0% 0.0%
4 6
-25.0% -16.7%
Change/Year
1st Quarter 2011
Change/Quarter
-2.0% 43.9% Change/Year -11.1% 69.5%
$ $
10,468,000 22,790,000
1st Quarter 2011 $ $
-21.4% -14.7% Change/Quarter
408,000 376,000
-17.2% 40.2%
Change/Year
1st Quarter 2011
Change/Quarter
-5.4% 2.2%
83% 92%
4.8% -1.1%
Change/Year
1st Quarter 2011
Change/Quarter
-8.4% 6.7%
74% 71%
2.7% 12.7%
87% 91%
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Change/Year
338,000 527,000
2nd Quarter 2010 2nd Quarter 2011 92% 89%
18.1% 33.9%
8,226,000 19,444,000
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Selling Price vs. Org. List Price %*
8,390,000 13,513,000
149 189
3 5
Gross Sales Volume/Homes & Condo* 2nd Quarter 2010 2nd Quarter 2011 Orcas Island San Juan Island
-5.4% -3.4%
5 5
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Change/Quarter
24 37
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
1st Quarter 2011
176 253
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Change/Year
76% 80%
* 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
The Windermere San Juan Islands Report Quarterly Market Statistics Summary Report - Vacant Land Number on Market Orcas Island San Juan Island
New Listings
2nd Quarter 2010 2nd Quarter 2011 168 166
160 167 . 2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Number Pending
15 16
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Number Sold
2 1
Orcas Island San Juan Island
Median Sold Price* Orcas Island San Juan Island
Selling Price vs. Listed Price % Orcas Island San Juan Island
Selling Price vs. Org. List Price % Orcas Island San Juan Island
2 3
2nd Quarter 2010 2nd Quarter 2011
Orcas Island San Juan Island
Gross Sales Volume/Vacant Land
14 10
2 2
1 3
2nd Quarter 2010 2nd Quarter 2011 $ $
1,421,000 3,610,000
$ $
1,814,000 2,712,000
2nd Quarter 2010 2nd Quarter 2011 $ $
142,000 $ 258,000 $
227,000 162,000
2nd Quarter 2010 2nd Quarter 2011 98% 79%
82% 86%
2nd Quarter 2010 2nd Quarter 2011 72% 63%
86% 85%
Change/Year
1st Quarter 2011
Change/Quarter
-4.8% 0.6%
3.2% 5.7%
Change/Year
155 158 . 1st Quarter 2011
Change/Quarter
-6.7% -37.5%
6 12
133.3% -16.7%
Change/Year
1st Quarter 2011
Change/Quarter
0.0% 200.0%
1 2
100.0% 50.0%
Change/Year
1st Quarter 2011
Change/Quarter
-50.0% 50.0%
2 1
-50.0% 200.0%
Change/Year
1st Quarter 2011
Change/Quarter
27.7% -24.9% Change/Year 59.9% -37.2%
$ $
1,766,000 1,166,000
1st Quarter 2011 $ $
177,000 146,000
2.7% 132.6% Change/Quarter 28.2% 11.0%
Change/Year
1st Quarter 2011
Change/Quarter
-16.3% 8.9%
80% 89%
2.5% -3.4%
Change/Year
1st Quarter 2011
Change/Quarter
19.4% 34.9%
51% 47%
68.6% 80.9%
*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
The Windermere San Juan Islands Report Homes & Condos
New Listings
Number on Market 300 250 200 150 100 50 0
40 35 30 25 20 15 10 5 0
Orcas Island San Juan Island
Orcas Island San Juan Island
Number Pending 7 6 5 4 3 2 1 0
Number Sold 7 6 5 4 3 2 1 0
Orcas Island San Juan Island
Orcas Island San Juan Island
Gross Sales Volume $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $-
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%
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
The Windermere San Juan Islands Report Vacant Land
Axis Title
Number on Market 250 200 150 100 50 -
New Listings Orcas Island San Juan Island
20 15 10 5 -
Orcas Island San Juan Island
10 8 6 4 2 -
Orcas Island San Juan Island
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $-
Selling vs. Listing Price % 100% 80% 60% 40% 20% 0%
Orcas Island San Juan Island
Median Sold Price
Gross Sales Volume $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-
San Juan Island
Number Sold
Number Pending 10 8 6 4 2 -
Orcas Island
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
The Windermere San Juan Islands Report Quarterly Market Statistics Detailed Report - Single Family Homes/Condos Number on Market
2nd Quarter 2010
Orcas Island San Juan Island New Listings
149
176
262
275
235
189
253
Selling Price vs. Listed Price % Orcas Island San Juan Island Selling Price vs. Org. List Price % Orcas Island San Juan Island
1st Quarter 2011
2nd Quarter 2011
11
10
13
24
20
12
22
37
3rd Quarter 2010
2nd Quarter 2010
4th Quarter 2010 6 6
3rd Quarter 2010 3 5
8,390,000 13,513,000
4th Quarter 2010
2nd Quarter 2010
15,144,000 35,178,000
2nd Quarter 2011 3 5
1st Quarter 2011 4 6
4th Quarter 2010 $ $
3rd Quarter 2010
10,066,000 16,998,000
5 5 2nd Quarter 2011
6 5
3rd Quarter 2010 $ $
1st Quarter 2011 4 4
4 6
2nd Quarter 2010 $ $
4th Quarter 2010
30
3 6
Median Sold Price Orcas Island San Juan Island
3rd Quarter 2010
21
Orcas Island San Juan Island
Orcas Island San Juan Island
2nd Quarter 2011
174
2nd Quarter 2010
Gross Sales Volume/Residential
1st Quarter 2011
195
Orcas Island San Juan Island Number Sold
4th Quarter 2010
186
2nd Quarter 2010
Orcas Island San Juan Island Number Pending
3rd Quarter 2010
1st Quarter 2011 $ $
4th Quarter 2010
10,468,000 $ 22,790,000 $ 1st Quarter 2011
3 5 2nd Quarter 2011 8,226,000 19,444,000 2nd Quarter 2011
$
380,000
$
518,000
$
394,000
$
408,000 $
338,000
$
311,000
$
412,000
$
545,000
$
376,000 $
527,000
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
92%
94%
83%
83%
87%
89%
95%
92%
92%
91%
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
83%
90%
64%
74%
76%
75%
83%
74%
71%
80%
*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
The Windermere San Juan Islands Report Quarterly Market Statistics Detailed Report - Vacant Land Number on Market
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
168 166
186 199
174 186
155 158
160
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
Orcas Island San Juan Island
15 15
12 14
4 6
6 12
14
Number Pending
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
Orcas Island San Juan Island
2 2
2 3
3 3
1 1
2
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
2 1
2 3
3 2
2 2
1
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
Orcas Island San Juan Island New Listings
Number Sold Orcas Island San Juan Island Gross Sales Volume/Land
Median Sold Price*
10
3
3
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
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 % Orcas Island San Juan Island Selling Price vs. Org. List Price % Orcas Island San Juan Island
1st Quarter 2011
167
2nd Quarter 2011
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
98%
82%
89%
80%
82%
79%
87%
82%
89%
85%
2nd Quarter 2010
3rd Quarter 2010
4th Quarter 2010
1st Quarter 2011
2nd Quarter 2011
72% 63%
81% 81%
72% 75%
51% 47%
86% 85%
*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