Is Lopez Island, WA 98261 a buyer’s or seller’s market?
Lopez Island is a buyer’s market. With about 7.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Lopez Island housing market right now
In the three months ending August 31, 2026, 8% of homes in Lopez Island, WA 98261 sold above their list price, the typical home went under contract in 28 days and there were 7.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (58 days then) and the median sale price fell 3% to $974,578. Overall, Lopez Island is more competitive than a year ago, so tougher for buyers.
Within San Juan County, homes here sell faster than in 60% of the county’s ZIP codes, and sell more often over asking than in 80%.
Nearby, buyers who want less competition could look at Shaw Island 98286 (0% sold over asking) or Olga 98279 (0% sold over asking).
Run the numbers for 98261
Nearby markets
Blakely Island 98222 — /sq ftDeer Harbor 98243Seller’s market $397 /sq ftEastsound 98245Buyer’s market $590 /sq ftFriday Harbor 98250Buyer’s market $492 /sq ft Browse all markets →Towns like Lopez Island nearby
Find towns like Lopez Island in other states →Where Lopez Island is
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Questions about Lopez Island real estate
Is Lopez Island a buyer’s or seller’s market?
A buyer’s market: there were 7.4 months of supply in Lopez Island, WA 98261 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lopez Island?
The typical home went under contract in 28 days in the latest three months.
Do homes in Lopez Island sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 97.4% of the list price.
What are property taxes in Lopez Island?
About 0.53% of a home’s value a year in San Juan County, or roughly $2,120 on a $400,000 home.
What is the median home price in Lopez Island?
The median sale price was $974,578 in the three months ending August 31, 2026, about $760 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology