We are experiencing some unique times in our country. We are also experiencing a unique housing market here on the Olympic Peninsula. For Sequim we ended the year with an average of 2.55 months supply of homes (a healthy market is around 6 months supply.) Less inventory in our high demand market has impacted an overall median price increase of 7.8%.
Sequim land median prices are up 18% from 2017 but sales for were down by 14%. A little different for Port Angeles with median prices just up 1% and number of sales were up 12% from 2017.
Days on market decreased from 2017 for an average of 56 days to 45 days for the Olympic Peninsula as a whole.
We are expecting a healthy demand in the spring months ahead making it an ideal time to list. How ideal? To answer that question, I would be happy to provide input specific to your home with a free Comparative Market Analysis.
Thanks for stopping by for all things realty’ on our lovely Olympic Peninsula! I look forward to working with you for your real estate needs — whether buying or selling in the paradise we call the Olympic Peninsula.
Listen to what Michele’s clients have to say.
Okay we all know that technology is our friend, right? It is certainly poised to change the real estate industry. I rarely have a client that comes to me without knowing what property is out there. I love that. Although I can search two MLS databases for what I believe is the perfect property – perfection is very nuanced. I can search for views, number of bedrooms, etc. and add what I think is a perfect match based on conversations. What could be better? When someone shops themselves and brings me a defined list to do a “deeper dive”.
So why do you need me? Based on my experience and access to data I can evaluate the accuracy of price, value and potential issues with a specific property. However, my true value is in representing your interests and protecting you. I come from the philosophy that most people are good. Most do not set out to “get you” but also as humans we want what we want and for the best price – true if you are a seller or a buyer. You need me to interpret one of the biggest transactions of your life. So yes, realtors are going to have to change for this evolving industry but at the end of the day my job is to protect you and ensure your interests are first. I take that very seriously. So feel free to shop the websites just call me next.
You may have heard by now that the housing inventory is very low in Clallam County – and in Washington. How low is low? According to the Northwest Multiple Listing Service we currently have 196 homes with an average list price of $416,424 on our local market.
Year to date, 429 homes have sold with an average price of $269,584. Together these numbers tell the story about the true demand. Without new homes coming on the market we have about 5 months of inventory out there. Anecdotally, my fellow brokers and I are seeing many buyers from other areas moving to our piece of paradise. This increased activity increases prices and creates multiple offer situations on desirable homes.
What to do with this information? If you are thinking of making a change and buying or selling in the near future continue to check in on my blog and give me a call or email for more market information.