Mariners Cove, Whidbey Island, Statistics and Comments
From: Joseph Michael Marvin
As most of us know, Mariners Cove is a beautiful and well maintained community with underground utilities, natural gas, plenty of community moorage, boat ramp, beach rights, great residents and is well managed. It is only six miles to Oak Harbor’s services, restaurants and shopping. And, moorage is protected all
year-round .
Compared to most other areas in Puget Sound, homes with private docks on Whidbey Island sell for less money than most other places in Puget Sound. This includes Mariners Cove. Take a look at the following:
Mariners Cove Home Sales with private dock 2006,2007,2008:
Homes Sold Average SqFt Days on Market Average Sales Price $/SqFt
2008 1* 1705 152 $725,000 425
2007 1* 1534 173 612,300 399
2006 3 2444 177 658,333 271
Mariners Cove Home Sales with moorage rights 2006,2007,2008:
Homes Sold Average SqFt Days on Market Average Sales Price $/SqFt
2008 1 2900 793 $446,000 154
2007 1 2256 210 350,000 155
2006 0 0 0 0 0
Mariners Cove Beachfront Home Sales with moorage rights 2006,2007,2008:
Homes Sold Average SqFt Days on Market Average Sales Price $/SqFt
2008 0 0 0 0 0
2007 0 0 0 0 0
2006 3** 1933 65 $804,600 402
*The last two home sales with private docks totaled 130 feet of canal waterfront both with docks capable of mooring 40’ plus boats. They sold for an average of $10,287 per canal front foot including an average of 1620 square feet of improvements.
**These three beachfront sales totaled 241 feet of beachfront with a sold value of $10,017 per beachfront foot including an average of 1933 square feet of improvements.
This includes the Jouett sale. The Jouett home included 121 feet of beachfront on Stony Beach. Sales price was $1,295,000.
Looking at current MLS listings
Mariners Cove Current MLS Listings for sale with private dock:
Listings Average SqFt Days on Market Average List Price $/SqFt
1 1978 393 $660,000 $334
Mariners Cove Current Listings for sale with moorage rights:
Listings Average SqFt Days on Market Average List Price $/SqFt
3 2438 638 $616,317 $274
What do the above statistics tell us about Mariners Cove?
1) There is very little turnover, Mariners Cove is a very stable real estate market. MLS data shows only 10 sales in the last 3 years, 5 with private docks, 3 beachfront and 2 view homes. This does not include by owner sales.
2) Homes with docks that can handle large boats (40’ plus) continue to enjoy above average appreciation.
3) If realistically priced, Beachfront homes and Canal Front homes with private docks generally sell within 90 to 180 days. This is fast in today’s market.
4) Non-beachfront and canal front homes without private docks are having a harder time. Look at the Days on Market! For a boating community with low cost community moorage for its residents, the value should be higher and the homes should sell faster.
5) No other boating community has community moorage to the extent that Mariners Cove does. Owners need to promote the community moorage rights to realtors and prospective buyers.
6) There are only 3 active NWMLS listings, one with a private dock, two canal front without docks. One other is sold contingent to a sale in California.
Regards, Joe Marvin
BoatCommunities.com
Windermere Real Estate, Whidbey Island
On Whidbey Island in the State of Washington, Pacific Northwest USA
Are you looking for the peace + tranquility of a small community? This 3000sf waterfront home with dock might be it. Beautiful landscaped low maint yard with a natural waterfall/pond. New kitchen has SS + granite. Views of Camano + the Cascade Range. Large master with office. Staircase leads to two bonus rooms and 3/4 bath. Lower level for entertaining has bar, family room, spa, sauna, exercise, wine cellar, guest BR + BA. This is a great getaway! Easy access to San Juan and Gulf Islands, Victoria, Vancouver, and Seattle. Click on title for full listing information and photos....
