Overall Good News In Real Estate Values

By Merri Ann Simonson

In reviewing the first quarter results for 2007, the real estate market volumes
on San Juan, Orcas and Lopez. and other islands. are overall lower than the same period in 2006. However, here are the current median price numbers:

On San Juan island, median sales price for a single family home on less than five acres for the annualized period ending March 31, 2007 is $522,500.

On Orcas, the median sales price is $492,000.

On Lopez, the median sales price is $422,500. Countywide the median home price is $483,250.

The median sales price for a home on less than 5 acres in San Juan County for year 2006 was $450,000. Decreased volume doesn’t necessarily equate to reduced sales prices as long as the market has a balance of supply and demand.

The median is a typical market price where half of the homes or lots sold for more and half sold for less.

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