January Newsletter

The new year is here, and we’re ready to take on all of the fresh opportunities it’s going to bring! We hope you’re feeling rested and centered—now is the perfect time to assess where you are in your real estate journey. As the market remains in a downturn, some folks may wonder if they should put their plans on pause until things pick up. However, if you’re looking to buy, the increased inventory right now is going to give you more options to choose from than if you were looking to purchase a home several months ago.

For sellers, more hesitant buyers (due in part to high mortgage rates) may have you wondering if it’s possible to sell your home right now. It certainly is! With an experienced, savvy agent at your side, who has been through market downturns like the one we’re currently experiencing, you can still see major success in the market. Contact us today so we can come up with some winning strategies, whether you’re buying or selling.

We're looking forward to connecting with you this year.
Warmly,
Alex & Kris
Your Around the Sound Real Estate Advisors
December Market Recap
Skagit County is still a seller’s market with 1.5 months of supply, which is down 20.8 percent from December 2021. Homes are staying on the market significantly longer than they were last year, spending an average of 53 days on market and selling for 97 percent of the asking price and at an average sales price of $610,000. In total, 104 homes sold last month in the county.
Snohomish County is a seller’s market with one month of inventory. Total homes sold are down 39.3 percent from December 2021 at a total of 737 last month. The average sales price is also down to $713,000 and properties are selling for 97 percent of the asking price on average. Significantly fewer new listings hit the market compared to December 2021.
Latest & Greatest
2023 Real Estate Forecast

What should we expect to see in the real estate market this year? Experts believe it will be a return to normalcy, with interest rates stabilizing and savvy folks taking advantage of the downturn to get a good deal. Buyers will have more room to negotiate, making this a good time to begin your search.

How to Lower Your Mortgage Rate

With high interest rates, many buyers are hesitant to make a purchase. However, a high interest rate now does not mean a high interest rate forever. A rate buy-down—which is when money is paid upfront to decrease the rate for a period of time—can help buyers manage the high costs. This can be paid by lenders, sellers, or builders, easing the financial burden on the buyer.

Home Design
Current Home Trends

What’s trending right now in home design? It’s more than just paint colors and countertop materials—features like electric car charging stations and cold-plunge pools are increasingly becoming more and more popular installations in homes. Many of these new trends have more to do with wellness and the environment than aesthetics, proving that today’s homeowner is interested in a home that supports a well-rounded lifestyle.

Property Picks
1481 Island View Drive,
Bellingham

Exceptional waterfront sanctuary offering rare 160 feet of water frontage. Enjoy breathtaking sunsets and unparalleled 180-degree views of the iconic San Juan Islands.

4 Beds | 5 Baths | 7,082 Sq. Ft.
Offered at $3,369,000

3716 Leeward Lane,
Anacortes

Architectural masterpiece perched above the Guemes Channel, showcasing 180-degree views of the San Juan Islands. The first time one of the 10 waterfront homes in this gated estate is for sale.

4 Beds | 2.25 Baths | 4,327 Sq. Ft.
Offered at $3,298,000

1469 Island View Drive,
Bellingham

Experience tranquility and ultimate privacy perched above Bellingham Bay with expansive views of the iconic San Juan Islands coupled with premium SW exposure and 249 feet of water frontage.

5 Beds | 4.5 Baths | 6,057 Sq. Ft.
Offered at $3,689,000

Local Happenings
Whether your next move takes you down the block or around the world, we'd love to assist you in your real estate journey.

NewsletterAlex ThomasReal Estate, January, Skagit County, Snohomish County