Camano Island, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Camano Island, WA Real Estate Data


Camano Island Housing Market Information

With a population of 16,093, 1,580 total housing units (homes and apartments), and a median house value of $369,453, real estate costs in Camano Island are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Washington communities.

Single-family detached homes are the single most common housing type in Camano Island, accounting for 86.91% of the town's housing units. Other types of housing that are prevalent in Camano Island include mobile homes or trailers ( 11.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Camano Island. Owner-occupied housing accounts for 84.40% of Camano Island's homes, and 55.07% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Camano Island built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Camano Island built between 2000 and later ( 22.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.95%). There's also some housing in Camano Island built before 1939 ( 4.09%).

Vacant housing appears to be an issue in Camano Island. Fully 26.07% of the housing stock is classified as vacant. Left unchecked, vacant Camano Island homes and apartments can be a drag on the real estate market, holding Camano Island real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Camano Island Home Appreciation Rates

Camano Island's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Camano Island during the period has been just -0.94%, which is lower than 70% of US communities.

Appreciation rates are so strong in Camano Island that despite a nationwide downturn in the housing market, Camano Island real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Camano Island appreciation rates continue to be some of the highest in America, at 8.00%, which is higher than appreciation rates in 91.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Camano Island. Camano Island appreciation rates in the latest quarter were at 1.84%, which equates to an annual appreciation rate of 7.57%.

Relative to Washington, our data show that Camano Island's latest annual appreciation rate is higher than 50% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$369,453

Camano Island, WA HOME PRICES

Value Range
> $1,200,000 2.7
$900,001 - $1,200,000 2.7
$600,001 - $900,000 11.1
$480,001 - $600,000 14.9
$360,001 - $480,000 19.1
$240,001 - $360,000 27.5
$120,001 - $240,000 15.9
$60,001 - $120,000 2.2
$0 - $60,000 3.9

High for WA
Very High for Nation

Value Relative to Nation Value Relative to State
11.3076067224922 23.0496453900709

Number Of Homes And Apartments:
1,580

Rent & Ownership

 

Average Market Rent:
$1,271 / per month

Homeownership Rate

Homeownership
Owners 84.40
Renters 15.60
Vacant 26.07

Housing Market Details

 

Age of Homes

AGE OF Camano Island HOMES
2000 or Newer 22.8
1970 - 1999 55.1
1940 - 1969 17.9
1939 or Older 4.1

Types of Homes

TYPE OF Camano Island HOMES
Single-Family 86.9
Townhomes 0.4
Small Apt. Buildings 0.5
Apt. Complexes 0.9
Mobile Homes 11.1
Other 0.2

Home Size

SIZE OF Camano Island HOMES
No Bedroom 1.60
1 Bedroom 8.34
2 Bedrooms 34.10
3 Bedrooms 43.06
4 Bedrooms 12.01
5 or more bedrooms 0.89

Camano Island Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
56.52% 2.67% 4 7
* 10 is highest

Zip Codes in Camano Island, WA