Local Look: Western Washington Housing Update – A Whidbey Island Perspective

This report provides a Local Look at the June 2025 Northwest MLS data, with a keen eye on how it impacts the Whidbey Island real estate market. There have been interesting shifts, and this analysis aims to offer a straightforward perspective, blending broader market insights with our hyper-local reality. The primary focus for tracking market supply and demand includes closed and pending sales, reflecting demand, and new and active listings, indicating supply.

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I. The Northwest MLS Residential Sales: A Broader View

Following a dip in closed sales in May, which was attributed to fallout from stock market fluctuations and economic turmoil in April, the housing market has shown a rebound. June’s residential closed sales across the Northwest MLS were almost precisely at their year-ago level. Pending sales for single-family homes experienced a 3% year-over-year increase. On the supply side, new listings increased by approximately 12% this June, and the total of active listings at month-end was 37% higher than June 2024’s inventory. While this represents a significant increase in inventory, the pace of year-over-year growth has slightly decelerated from the 39% observed last month.

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The median sale price for closed single-family home sales climbed 3% from last year, reaching $695,000. This reverses the 1% decline seen in May and establishes a new high-water mark for the year, exceeding the $680,000 price level in April. This indicates that buyers across Washington re-engaged with the market in June, driving both increased sales and higher prices. However, the current high level of inventory suggests that buyers will likely gain more negotiating power later this summer.

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II. Whidbey Island Real Estate: Our Local Snapshot

Let's narrow our focus to our beloved Whidbey Island. While the broader Western Washington market provides context, a more precise understanding comes from examining our local communities. When it comes to Whidbey Island homes for sale, we track distinct trends, particularly in areas like Coupeville, Oak Harbor, Langley, Freeland, Clinton, and Greenbank.

Closed Sales: A Mixed Bag, Locally Speaking

Residential closed sales in the four-county greater Seattle area saw a slight dip of just half a percent year-over-year. This was largely due to a 3% gain in King County offsetting minor declines in other counties. King County's recovery is particularly notable after its significant 14% year-over-year decline in May, suggesting that some buyers re-entered the market after an earlier pause.

On Whidbey Island, the latest data provides further insight into sales activity:

  • For Coupeville & Oak Harbor, 382 homes have sold year-to-date, representing a notable 14% increase from 2024.
  • In the combined South and Central Whidbey region (Clinton, Langley, Freeland & Greenbank), 143 homes have sold year-to-date, though this indicates an 11% decrease from 2024.

This demonstrates a clear divergence in sales volume across the island, with the northern part experiencing robust growth while the southern/central areas show a slight contraction. Understanding these hyper-local nuances is crucial, highlighting the benefit of partnering with a Whidbey Island Specialist.

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Median Sales Prices: Whidbey Island's Upward Trajectory

While Snohomish County experienced a 2% decrease in median sale price, King County led with a 7% gain, surpassing the million-dollar mark once again. Kitsap and Pierce counties also saw price increases of 4% and 5%, respectively.

For Whidbey Island, median sales prices continue to show strength:

  • In Coupeville & Oak Harbor, the median sales price over the last 30 days is $534,000, with an average sales price of $582,784. Homes in these areas are selling for an average of 97.5% of the list price.
  • For Clinton, Langley, Freeland & Greenbank, the median sales price over the last 30 days stands at $806,250, with an average of $917,023. These properties are achieving an average of 97% of their list price.

These figures underscore the continued vitality of the Whidbey Island real estate market, reflecting consistent buyer demand.

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Pending Sales: Mixed Signals

Looking ahead, pending sales across the greater Seattle region returned to modest year-over-year increases, totaling 3%. This was led by an 11% rise in Pierce County and a 4% rise in King County, though partially offset by declines of 4% in Kitsap and 5% in Snohomish County.

For Whidbey Island, weekly reports indicate:

  • In Coupeville & Oak Harbor, there are currently 19 pending homes, with 8 properties experiencing price reductions. Over recent weeks, pending sales have fluctuated, peaking at 43.
  • The Clinton, Langley, Freeland & Greenbank region currently has 10 pending homes and 10 price reductions. This area recently saw a peak of 20 pending homes.

This mixed activity in pending sales suggests that while demand is present, buyers are becoming more discerning, a trend that active listings will further emphasize.

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Inventory Growth: Opportunities for Buyers

On the supply side, the four-county greater Seattle area had nearly 9,000 active listings at the end of June, representing a 40% increase from the same time last year. While substantial, this gain is a smaller percentage than the 45% year-on-year growth observed in May, indicating a deceleration in the inventory buildup.

Here on Whidbey Island, inventory levels reveal an interesting narrative:

  • For Coupeville & Oak Harbor, there are currently 169 homes for sale. This translates to 3.0 months of inventory based on solds and 2.9 months based on pendings. This suggests a market that is largely balanced, leaning slightly towards sellers.
  • The Clinton, Langley, Freeland & Greenbank region has 141 homes for sale. This represents 5.1 months of inventory based on solds and 5.4 months based on pendings. This notably higher inventory level shifts the balance more towards buyers in these areas.

This increasing inventory is favorable for buyers, offering more choices and potentially greater negotiating power as the summer progresses. For sellers, it underscores the importance of a well-presented and effectively priced property from the outset. Explore available homes through our Our Active Listings page.

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III. Looking Ahead for Whidbey Island

The June report confirmed that greater-Seattle-region buyers re-engaged with the market in June, marking a return to a "new normal" in sales activity after a pause in April. As the seasonal cooldown in demand is anticipated, coinciding with the peak of summer, the market dynamic is likely to favor buyers who continue their home search in the second half of the year. Furthermore, increased inventory is expected to introduce some competitive pressure on sellers who have yet to receive offers.

For those considering a move to our beautiful island, exploring our Explore Whidbey Island guides can provide invaluable insights into communities like Coupeville, Oak Harbor, Langley, Freeland, and Greenbank.

The Whidbey Island Advantage: Partnering with a Local Expert

Statistics only tell part of the story. The true value lies in understanding how these numbers apply to your specific real estate goals on Whidbey Island. Whether buying a piece of island paradise or selling a current home, partnering with a local expert is essential. Windermere brokers on Whidbey Island possess an intimate knowledge of its diverse neighborhoods, unique features, and evolving market dynamics. The focus extends beyond mere transactions to fostering connections and building community—a reflection of the "Human Algorithm" philosophy in action.

Don’t just navigate the Whidbey Island real estate market; master it. We are here to provide the insights, strategies, and local connections that make all the difference. Ready to make a move? Connect with us today.

Are you ready to make your real estate goals a reality?

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