Market Update: What Whidbey Island Buyers and Sellers Need to Know Right Now
Last year it was a strong seller’s market. This year, things have shifted January and February leaned more in favor of buyers, but home prices have been pretty stubborn about coming down. That said, by mid-January, we started seeing price reductions on several listings many of which were probably overpriced to begin with. Looking ahead, I expect we’ll see more homes hitting the market by mid-to-late March. For sellers, that means more competition. If you're thinking about selling, pricing your home correctly and having a solid marketing strategy from the start is going to be key. With more listings coming on, buyers will have more options, so making a strong first impression will be more important than ever.
Market Stats Can Be Misleading—Here’s Why
If you’ve been checking general market stats online, take them with a grain of salt. A lot of reports lump Camano Island and Whidbey Island together, but they’re two very different markets. Even within Whidbey, there are big differences Oak Harbor is a completely different market compared to Langley, for example. Real estate is all about micro-markets, and broad stats don’t always give you the full picture. If you want a breakdown specific to your area or price range, let’s chat I’m happy to dive deeper into the numbers with you.
What This Means for Buyers
For buyers, there’s definitely more leverage right now, especially on homes that need some updating, have deferred maintenance, or have multiple living levels (which aren’t always as appealing to everyone). But the best homes especially those with great locations, views, or easy accessibility are still selling fast.
Median and Average Home Prices based on sales for the last 60 days:
Oak Harbor- $500,000, $515,000
Coupeville, Greenbank- $600,000, $619,000
Freeland, Langley, Clinton- $755,000, $814,000
Whidbey Island’s real estate market faces ongoing challenges in balancing home prices with the average workforce income. When it comes to new construction, Oak Harbor is leading the way with several projects in progress. In contrast, Central and South Whidbey have seen less development. This disparity is largely due to restrictions on available vacant land; often stemming from environmental protections, infrastructure limitations, or zoning regulations. Meanwhile, Island County is undergoing a comprehensive plan update, set to take effect by December 31, 2025. This update aims to preserve the county’s rural character while also streamlining the permitting process and revising zoning laws. A big focus is expanding workforce housing in areas with job opportunities, ensuring residents can both live and work within the community.
The bottom line? Whether you're buying or selling, understanding the current market dynamics is a non negotiable. If you have questions about your next steps, reach out for a no-pressure chat!