Is Lopez Island, WA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lopez Island has remained a Buyer's Market.
Key Takeaway
Lopez Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lopez Island, WA
How much do homes in Lopez Island, WA cost?
Median Sold Price
$724,975
$490/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lopez Island have sold for 20.1% less than they did a year ago.
Summary: The median home sold price in Lopez Island was $724,975 in May 2024, down 20.1% from last year, and the median price per square foot was $490.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $625K | $535K | -14.4% |
| 2 Bedrooms | $515K | $650K | +26.2% |
| 3 Bedrooms | $1.2M | $895K | -25.4% |
| 4 Bedrooms | $1.8M | $485K | -73.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Lopez Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.4%, 2 bedroom homes increased by 26.2%, 3 bedroom homes decreased by 25.4%, 4 bedroom homes decreased by 73.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lopez | $920K | $750K | -18.5% |
| Lopez Island | $907.6K | $724.9K | -20.1% |
Housing Supply in Lopez Island, WA
How many homes are available in Lopez Island, WA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 29 | +31.8% |
Summary: The Lopez Island real estate market had 29 homes for sale in May 2024, a 31.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lopez Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lopez Island, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lopez Island in May 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Lopez Island, WA
How long does it take to sell a home in Lopez Island, WA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 25 Days | -12.1% |
Summary: Homes in Lopez Island had an average of 25 days on market in May 2024, down by 12.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lopez Island are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Lopez Island; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Northwest Multiple Listing Service as distributed by MLS GRID.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Northwest MLS IDX. Real estate listings held by other brokerage firms are marked with the green "three trees" logo and includes the name of the listing broker(s). Copyright © 2024 Northwest MLS. All rights reserved. 
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2024 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.