Point Roberts, WA - Real Estate Market Overview 2025

Zoe Harper

Marketing

Landlord Tips & Tricks

July 28, 2024

The real estate scene in Point Roberts, WA, is getting hotter by the day. The median home sale price has shot up to $1.2M. That's a huge leap of 93.9% from last year¹. At the same time, the cost per square foot has dipped slightly to $375, a decrease of 3.8%¹. Homes in this beautiful area are selling fast, often in just 23.5 days¹. This quick sale time shows the market is strong and buyers are eager to move in.

Point Roberts homes are hot properties, often getting multiple offers. They usually sell in under a month. This shows a lot of people see value in investing here. It also tells us the real estate scene is vibrant. We're sharing this overview to shed light on what's happening and what's expected in Point Roberts' future.

Learn more about the Point Roberts real estate market.

Key Takeaways

Median home sale price in Point Roberts reached $1.2M, marking a 93.9% increase over the previous year¹.
The median sale price per square foot is $375, down 3.8% from last year¹.
Homes typically sell in about 23.5 days, reflecting a competitive market¹.
Properties are often receiving multiple offers, with many selling slightly below the list price¹.
Seattle, Los Angeles, and San Francisco are the top cities from which people are moving to Point Roberts¹.

Introduction to Point Roberts Real Estate Market

Point Roberts real estate is at the Tsawwassen Peninsula's tip. It combines beautiful scenery with great buying opportunities. Local and out-of-state buyers are attracted by its diverse properties. These range from cozy single-family homes to grand estates.

The area's market is rich in variety, from charming cottages to sleek modern homes. Each has unique features like ocean views or big yards. When looking at recent sales in Point Roberts, you find renovated homes, businesses, and empty lots². It's perfect for those who love green living and open spaces.

The average home sale price in Point Roberts, WA is about $486,562. The top sale was $1,125,000³. The land sells too, with the highest lot reaching $127,000 for 5.1 acres³. This shows the wide range of investment options available, from houses to large plots of land.

The median listing price is around $439,000, and each square foot costs about $344². Homes are usually sold in about 42 days. This suggests a steady market that's good for smart buying and selling². Knowing the prices and competition is key to making wise purchases.

In conclusion, Point Roberts, WA, is both scenic and a smart place to invest. Its varied properties and prices appeal to many buyers. This makes it an exciting area for both newcomers and experienced investors.

Current Housing Market Trends in Point Roberts, WA

Point Roberts has witnessed big changes in housing market trends lately. There's been a steep climb in median sale prices. Now, the median sale price in Point Roberts is $1.2 million. This surge shows more people are interested in this area. These folks include remote workers, those looking for a second home, and semi-retired individuals.

Median Sale Prices

In July 2021, the median sale price for homes in Point Roberts was $405,000. This is a 70% jump from the previous year⁴. Such a sharp increase shows the growing demand for real estate here. Meanwhile, in Whatcom County, the median price reached $525,000. This was up by 24% from a year earlier⁴. So, Point Roberts' median sale prices are rising faster than those in surrounding areas.

Comparisons to Previous Years

Looking back, real estate prices in Point Roberts are certainly going up. Zillow found an 18% increase in home values over one year. It shows that, despite data issues, the growth in real estate prices is unmistakable⁴. Also, the closure of the U.S.-Canada border has made this area more attractive to U.S. buyers⁴.

Market stability in Point Roberts is strong because of the variety of properties available. You can find anything from land priced at $49,900 to luxury homes at $4,950,000⁵. This variety means there's something for everyone, whether you're investing small or big. With the demand high and prices steadily going up, the housing market in Point Roberts looks promising for good returns.

Home Supply and Demand in Point Roberts

The number of homes for sale in Point Roberts has gone up by 41.2% from May to June. This shows more people are interested in the area, leading to more houses on the market⁶. With more options available, people looking to buy can find the perfect home easier.

Number of Homes for Sale

Homes for sale in Point Roberts are increasing. This makes the area more appealing to investors and those wanting to buy a home. With more homes available, there are more chances for buyers to find something within their budget and preferences.

Housing Supply by Bedroom Count

Looking at homes in Point Roberts, you'll find everything from one-bedroom apartments to bigger family homes. This variety means there's something for everyone, no matter what you're looking for. The wider range of home types helps meet the needs of different buyers.

Sold Homes and Market Activity

Homes in Point Roberts are selling quite well. Some sell for less than the asking price, but most sell for an amount close to what the seller wants. This shows a stable real estate market, which is good news for buyers and sellers. The real estate supply demand is balanced, giving investors confidence.

If you want to know more about investing in Point Roberts, check out this guide on the best neighborhoods⁶.

Popular Home Features and Their Value in Point Roberts, WA

Point Roberts is known for its stunning nature and peace. It covers only five square miles but is home to over 1,300 people⁷. The features of homes here greatly impact their market value.

Waterfront homes are highly valued for their views of the Georgia Strait, Gulf Islands, and more⁷. People living here see whales often, which makes these homes worth more.

The number of bedrooms and modern comforts in a home matter too. Homes with top-notch interiors can sell for more money. For instance, last month, the median sale price was $1.2 million, up by 93.9% from last year⁸. These homes are usually bought quickly, in about 23.5 days, showing a strong market⁸.

Being near the harbor is another sought-after feature, especially by those who love boating⁷. This, along with the area's small-town feel and acceptance of both Canadian and American money, makes the homes here appealing⁷.

This area's mix of beautiful views, modern features, and unique lifestyle makes it attractive. Buyers from cities like Seattle, Los Angeles, and San Francisco are especially drawn here⁸. The demand for these types of homes keeps growing, raising property values in Point Roberts, WA.

For more about Point Roberts and its real estate, check out this resource⁷.

Buyer and Seller Market Dynamics in Point Roberts, WA

The Point Roberts market is leaning towards buyers now. Properties range from $69,500 to $849,000⁹. The median sale price recently jumped to $1.2 million. This is a 93.9% increase from last year⁸.

Current Market Type

Point Roberts, WA, is a buyer's market. There's an abundance of homes waiting for owners. Homes usually sell in about 23.5 days⁸. This gives buyers the upper hand to negotiate and take their time.

How It Affects Buyers and Sellers

Buyers enjoy better deals and can often negotiate prices down by about 2%⁸. With a variety of homes available, now is a great time to buy⁹

Sellers face longer selling times and must price well to attract buyers. Despite the rise in median prices, strategy is key. For more on Point Roberts real estate, visit Realtor.com⁹.

Migration Trends in Point Roberts, WA

Credits - Madereugeneandrew, CC BY-SA 4.0

Point Roberts shows a lively mix of people moving in and out. Many locals want to find new homes within the area. This desire shapes the real estate scene.

At the same time, people from big cities like Seattle, Los Angeles, and San Francisco are also drawn here. This adds to the varied migration patterns in Point Roberts.

Those leaving Point Roberts often head to cities like Phoenix, Tucson, and Wenatchee. This highlights how regional and national movements are linked. Big-ticket real estate purchases also put the spotlight on the region. For example, a Chinese billionaire snapped up a property worth US$4.6 million, boasting two houses and a waterfront lot¹⁰. Coco Luo, from Canada, bought the Point Roberts Golf and Country Club for US$4.5 million¹⁰. These purchases show Point Roberts' global appeal.

Significant investments also boost the local economy. The Point Roberts Marina, bought for US$27 million by Chen Yihong, demonstrates the value of waterfront properties¹⁰. Another deal, where 10 hectares of waterfront land were bought for US$3 million by 1350 Lundrigan LLC, plans to create 19 estate lots¹¹.

A proposed $15 million upgrade for Blackfish Resort will grow the facility immensely¹¹. This indicates a strong and active real estate market in Point Roberts.

Property sales show a broad range of prices. Homes cost anywhere from US$164,900 for a quaint, older house to US$1.18 million for a more modern home¹¹. Every sale highlights Point Roberts' allure, reflecting its ongoing migration swings.

Competitive Nature of the Point Roberts Market

The Point Roberts real estate scene is known for being very competitive. It uses the Redfin Compete Score™ to measure this. This score shows how eager buyers are about homes in the area. For those looking to buy or sell, understanding this competition is key.

Redfin Compete Score™

The Redfin Compete Score™ helps us see how tough the competition is in Point Roberts. It shows that homes here tend to sell fast. On average, homes are on the market for about 24 days. But, very sought-after homes can get many offers and sell in just 3 days⁸. This means buyers have to make quick decisions.

Offer Scenarios

In Point Roberts, buying a home has its own set of rules. Homes usually sell for about 2% less than asking price⁸. One reason the market is so competitive is because up to half of some stores' sales come from Canadian shoppers¹². Managing rental properties on Airbnb also needs smart pricing and knowledge of the market.

Many factors make Point Roberts' market unique like its closeness to Canada. Last month, the median sale price of homes jumped to $1.2M, a 93.9% increase from last year⁸. This fast-moving market demands that buyers and sellers are always ready and informed.

Impact of Remote Work and COVID-19 on Point Roberts Real Estate

The COVID-19 pandemic and the sudden growth of remote work have deeply changed the Point Roberts real estate scene. Before the pandemic, working from home was not very common. But during the pandemic's peak, it jumped to cover over 60% of paid workdays¹³. This major change touched housing markets everywhere, including Point Roberts.

As a result, the Point Roberts market faced a unique pandemic effect on housing. Buyers began looking for houses in areas that are good for remote work. Travel restrictions made things hard at first, but real estate agents found new ways to sell houses online. This new method helped local buyers and also brought in people seeking less crowded places to live.

Also, a trend of moving from city to countryside influenced Point Roberts' demand for homes. People left big cities for places where working from home was easier. Point Roberts' market changed as more people wanted homes that suited remote work¹⁴.

Data shows that remote work hit an average of 1.5 days a week during tough COVID-19 lockdowns worldwide¹⁵. By September 2022, people in the U.S. were working from home about 1.1 days a week¹⁵.

There was also a change in how productive people were across different jobs during this time. At first, productivity soared thanks to new digital tools in 2020. But, productivity levels went back to normal after that¹³. These ups and downs show the mixed effects of remote work.

The remote work real estate impact on Point Roberts shows us how the pandemic changed where we want to live. People now want homes that are good for remote work more than ever. The market adapted to these new needs, proving it could overcome big challenges.

Future Predictions and Market Outlook in Point Roberts, WA

The outlook for Point Roberts' market is looking good. This positive view is based on current trends and expert opinions. The interest from both local and Canadian buyers keeps the market strong. This is thanks to a few important reasons.

Expert Predictions

Experts see property values in Point Roberts going up. This is because demand stays high and homes are scarce¹⁶. More buyers want the unique location, making competition fierce. Rising job stability and gross rents boost this outlook¹⁷. Low jobless rates and high earnings suggest the market will keep growing¹⁷.

Factors Influencing Future Market Trends

Many things will shape Point Roberts' market future. Its charm as a top spot for remote work is one. Border policy changes and its appeal to American and Canadian buyers are others. Things like mortgage rates and inflation will affect the real estate scene too¹⁶. With more people moving in and home values going up, Point Roberts is a smart investment¹⁷.

Conclusion

The Point Roberts real estate market is thriving, thanks to its unique spot and COVID-19 effects¹⁸. Prices of homes have swung widely. In January 2023, the lowest was $254,000. By March 2024, one reached $1,375,000. These changes show the market's vibrancy, with similar patterns for houses and condos.

Point Roberts is becoming a buyer's market. We've seen the number of sales rise and fall, hitting seven in August 2022 and March 2024¹⁸. The lows reached one in June 2024. Its closeness to big cities like Seattle and Vancouver boosts its charm. Plus, its economy, linked to ports and tourism, makes it a good place for investment¹⁹.

The future of Point Roberts looks bright. Its great location keeps demand high. Its nice weather, scenic views, and strong economy mix well. This attracts people looking for homes and investment opportunities. This summary shows Point Roberts is set for ongoing interest and growth in the real estate market.

FAQ

What is the current median home sale price in Point Roberts, WA?

The current median home sale price in Point Roberts, WA, stands at $1.2 million. This is a big jump of 93.9% compared to last year.

How does the current median sale price per square foot compare to the previous year?

Now, the median sale price per square foot in Point Roberts is $375. This shows a small drop from the previous year.

How long do homes typically stay on the market in Point Roberts?

Homes are usually sold in about 23.5 days. This fast pace shows a strong market.

What types of properties are available in Point Roberts?

Point Roberts offers a wide range of properties. You can find anything from single-family homes to bigger estates. This variety suits different tastes and budgets.

Has there been a change in the number of homes for sale in Point Roberts?

Indeed, there has been a 41.2% rise in the number of homes for sale from May to June. More homes are available now.

What features tend to add value to homes in Point Roberts?

The value of a home goes up with more bedrooms, new amenities, and top-quality finishes. These features are highly sought after.

Is Point Roberts currently a buyer's or a seller's market?

Currently, Point Roberts is more of a buyer's market. Prices are more favorable to buyers than to sellers.

What is the Redfin Compete Score™ for Point Roberts?

The Redfin Compete Score™ suggests a moderate level of competition in Point Roberts. Homes often get many offers and the most appealing ones sell close to their listing price.

How has remote work and COVID-19 affected the Point Roberts real estate market?

The pandemic and the rise of remote work have greatly affected Point Roberts' market. There's a higher demand from people wanting a new setting or a place good for remote work.

What are expert predictions for the future of Point Roberts' real estate market?

Experts believe the demand will keep driving property values higher. This is thanks to factors like border policies, the rise of remote work, and the area's charm.