SJI Real Estate: Sales Drop, Value Remains Steady

By Merri Ann Simonson

In reviewing the year-to-date results for period ending September 30, 2007, the sales volume for the real estate market on San Juan Island was less active when compared to the same period in 2006. Overall, decreased volume or averages doesn’t necessarily equate to reduced property values.

The median price for a previously owned home on less than 5 acres for year 2006 was $479,000. The median home price for the period of October 1, 2006 through September 30, 2007 is $480,000, so property values are maintaining on San Juan Island.

The volume in 2007 lags 2006 by $36,134,366 (24%). On San Juan, we have closed an average of 22.3 transactions per month so far in 2007. The chart below shows the actual numbers:


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