SAN JUAN COUNTY REAL ESTATE MARKET SUMMARY
- 3 days ago
- 5 min read
The first quarter results for San Juan County reflects a very good increase in dollar volume and a slight decrease in number of transactions. The increase in volume is mostly attributed to Orcas Island as San Juan Island reflects a slight decrease in closings volume and number of transactions. The year-ending 2025 enjoyed gains for both the County and San Juan Island. The San Juan Island decrease wasn’t unexpected as numerous events nationally may have given buyers a pause and reason to hold off. The first quarter results are always volatile and do not necessarily set the trend for the year. However, this first quarter in real estate was extremely volatile; then you add in the normal events that have an impact, such as weather conditions for travel, buyers waiting for their tax return, and low inventory which affects buyer selection, it was a negative environment for property sales on San Juan Island. The activity level on Orcas was a surprise. Of the 26 transactions on Orcas for all types of property, 15 were in excess of $1M each and one of those was $23m.
Historically, the summer has always been the most active time of year in our market. Statewide, 13 counties showed decreases in their numbers in the first quarter.
Per the NWMLS, the dollar volume in San Juan County was $72,962,773 with a total of 50 transactions. The numbers reflect a 74% increase in dollar volume and a 6% decrease in the number of transactions as compared to the first quarter in 2025. As mentioned above, Orcas did all the heavy lifting towards the County numbers.
For San Juan Island, the dollar volume was $16,084,000 with a total of 19 transactions. This is an 11.5% decrease in the dollar volume and a 17.4% decrease in the number of transactions.
There are positive signs in our local market that are encouraging. The number of buyer leads from the various origination platforms has increased. (Zillow, REALTOR.com, Homes.com, and Coldwell Banker SJI and Corporate) The number of showings on our Team’s listings during March had a sharp increase over February. Per the NWMLS, the showings that were registered with Showing Time statewide reflected a 19% increase and the lockboxes that were accessed by agents reflected a 24.5% increase in March as compared to February 2026.
The inventory level has built up over the winter, and we launched into the spring with a good selection for buyers that continues to increase. This is a good starting position for the local market.
The higher level of inventory will attract more buyers back into our local market due to the increase in selection. Having a 6-month supply of inventory is considered a balanced market between buyers and sellers. It is a fine line, we need more inventory to encourage buyers to return to our market but if it builds up too fast, the supply and demand will not be balanced. We remain in a buyer’s market at this time.
Buyers need to feel secure when making a large buying decision whether it be a primary residence, second home, future retirement or a rental property. The rising global uncertainty and national events in the first quarter did not offer any security to prospective buyers. However, it is expected that the FED will lower the interest rates after the turnover in the Chair position in May.
Our inventory on April 1, 2026, is a total of 216 for San Juan County with 93 of the total on San Juan Island. These totals reflect similar levels to the same period in 2025; however, they reflect a 23% increase for San Juan County and 22% increase for San Juan Island over the numbers reported February 28, 2026. The inventory dropped considerably after the first of the year, primarily due to sellers pulling their properties off the market to rest the marketing for the winter with plans to return in spring, which is very typical in our market. Since February 2026, the number of listings has been on the increase with many properties that were not on the market in 2025.
The number of pending transactions as compared to 2025 is down slightly; however, the number has been on the rise since January 2026. As of April 1, San Juan County has 24 pending transactions, 13 of which are on San Juan Island.
Due to the seasonality of our market, inventory should continue to increase through Summer.
For the County, the 12-month median home price for the period ending March 31, 2026, was $897,500 which is an increase of 1.1% as compared to 2025. However, the median home price for San Juan Island for the 12-month period ending of March 2026 was $752,250 which is a 3% decrease as compared to 2025. The Median Price calculation is not a reflection of appreciation but merely a trend in the market. Median Price is defined as half of the homes sold for a higher price and half sold for less. It is less biased than the average price. The percentage of median home price change has been slight, for both up and down, and has been stable in the last year regardless of the decreases in volume and number of transactions.
In recap for the County, our volume and number of transactions for the first quarter were up, and the median home price is stable. Sellers are negotiating on average 6% off their sales prices during the 12-month period ending March 31, 2026, for all types of residential homes, including condominiums and manufactured homes. Further, we have increasing numbers in inventory and the pending numbers should follow. The average days on market for homes is 111 which is very similar to the 106 average days in 2025, and we are approaching the summer season!!!
I believe that the buyer activity will increase over the next few months. The indications from the amount of Zillow leads and listing ”hits” from the various websites, all reflect increased activity levels. Further, agents are experiencing more direct contact from buyers with inquiries. These are all the necessary steps that buyers take before they set their showing appointments with the intent to purchase property.
We have able, willing and motivated buyers in our market. They show up very timely when a property is listed that has an appealing price, location and condition. We even had a few multiple offer situations this year.
I believe that in our local market, our buyers and sellers have realized that there is never going to be the perfect time to buy or sell. We may always have some level of turmoil nationally and globally. I personally believe that life is short and that people have reached the point where they are making the decision to live their lives on their terms and move forward even though the timing might feel uncomfortable.
I am optimistic about our local real estate market for 2026. Life’s attitude is 10% of what happens to you and 90% about how you react to it.
As always, if you need additional information, please be sure to contact one of us. To read all of our past market updates and industry related articles or view our lifestyle videos, please visit our blog at: http://sanjuanislandslifestyle.com/blog/
Written by:
Merri Ann Simonson
360-317-8668
4-2026