CBA Report Highlights (Q2 2025)
According to the Commercial Brokers Association (CBA) Mid-Year 2025 Report, Skagit County’s commercial real estate market showed strong growth:
- Sales Volume: Up +60% year-over-year compared to Q2 2024.
- Number of Sales: Increased +4% year-over-year.
- Multifamily: Continued to dominate Washington, accounting for 50.4% of statewide sales volume in Q2.
- Industrial/Flex: Sales volume climbed +15% across Washington.
- Land: Up +15% in sales volume as developers position for future growth.
- Retail: Down –9% in sales volume, though core Burlington properties remain competitive.
- Office: Down –17% in sales volume, reflecting slower absorption.
- 2025 Forecast: CBA projects $12.0B–$13.5B total sales volume statewide with 2,000–2,150 transactions by year-end.
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Local Market Insights (City-Level Context)
While the CBA data provides a clear statewide and county-wide view, Skagit’s cities each play a unique role in shaping commercial real estate demand:
- Mount Vernon (County Seat & Largest City): Anchors the region with government offices, healthcare, and retail expansion. Known for the annual Tulip Festival, it’s also where much of the county’s new housing and multifamily demand is centered.
- Burlington (Retail Hub): Its retail strength fuels steady demand for hotels, restaurants, and nearby industrial distribution.
- Anacortes (Marine & Tourism Economy): A gateway to the San Juan Islands, Anacortes balances industrial activity (shipbuilding, marine services) with high tourism-driven commercial opportunities.
- Sedro-Woolley (Historic & Growing): Transitioning from its timber industry roots, Sedro-Woolley is now attracting residential growth and small business redevelopment, creating steady demand for mixed-use and service-based commercial properties.
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Outlook for Investors
With a 60% jump in sales volume and a 4% increase in total transactions:
- Multifamily & industrial will remain the most stable asset classes into 2026.
- Land near I-5 is seeing increased activity as developers look ahead.
- Retail in Burlington remains strong despite statewide softness.
- Office space continues to offer value pricing compared to Snohomish and King Counties.
Investors seeking growth, affordability, and long-term upside should watch Mount Vernon and Burlington closely, while keeping an eye on niche opportunities in Anacortes and Sedro-Woolley.
Search Skagit County Commercial Properties
Looking for opportunities? Explore:
- Multi-Family Apartment Buildings
- Industrial & Flex Properties
- Retail Buildings in Burlington & Mount Vernon
- Office Properties & Hotels
We’re Josh and Jolene Baijot, local real estate agents in Bellingham and Whatcom and Skagit Counties. Backed by one of the area’s most visited local real estate websites, we help buyers and sellers navigate the market with confidence.
