How much are luxury homes in Sequim?   No homes have sold in Sequim or Port Angeles so far this calendar year for $1 million dollars or more, but in 2008 we had a grand total of four that sold for more than $1 million.   Here is what that looked like.

All other homes that sold from $150,000 to $1 million in Sequim and Port Angeles for the year 2008 had an average selling price of $281,999.   There were 589.   The DOM or days on market average was 120 days, although there was one house on the market for 955 days.

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Sequim real estate is down like the nation’s real estate, but how are Sequim home sales looking for the first two months of this year compared to the past nine years?   Here’s a chart showing the numbers.   2003 had the largest number of homes sold with 81, and for all other years since 2000, we ranged from 42 to 55 homes sold in the first two months of each year.   This year, as expected, is our slowest at 26 homes sold in Sequim in our first two months of the year.

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Port Angeles and Sequim sellers, whether For-Say-By-Owners or listed with Realtors, have a vested interest in knowing where buyers are coming from.   The National Association of Realtors conducted a nationwide survey, and the results confirm what many of us have believed and were convinced we knew, but here is the raw data.

This data is very revealing, because what we are looking at here is proof that the three main sources of buyers come through Realtors, the Internet, and signage.   What most people don’t know is that newspapers and magazines and open houses don’t sell houses directly.  

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Sequim homes for sale.  What does the Sequim real estate market look like and how does it compare to previous years?   Here is a graphic covering the past five years showing the total number of homes sold and the median sales prices.   I’ve weighted the data to get more accurate results by eliminating very low and very high priced homes.   The price range of $150,000 to $400,000 includes 94% of homes sold in Port Angeles recently.   The very small number of high priced homes sold to millionaires would unfairly skew the data.   Not showing on this chart, but interesting, is that in November of 2008, only 10 hours sold in Sequim and 15 in Sequim in this price range.   All homes included in this data are site-built only.

Sequim Homes for Sale

Click on this image to enlarge it.

Sequim Homes for Sale Compared

For detailed reports and data on Sequim homes for sale, you can also email me and ask me for information and reports I may have already written.  If I haven’t created the report, I often can create it for you.

Sequim Homes for Sale in Sequim

There is the ongoing question about whether Sequim homes for sale or Port Angeles homes for sale are a better deal.  That depends on many factors, primarily your own preferences about the area, travel distances for you, recreational activities (if you are so inclined), and access to water and British Columbia (a direct ferry from Port Angeles).

Call me or email me for more information about Sequim homes for sale.

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Port Angeles Homes Sold, Sequim Homes Sold.   As I analyzed what homes are selling in Sequim and Port Angeles, I charted the sales in $50,000 increments. This helped me see what percentage of homes are selling in each price category. It’s very revealing.   It does help explain why homes in the upper price ranges are not selling. They represent a very small percentage of the market.

Here’s an example of how to use this graphic.   If you’re selling a home above $400,000 and less than $450,000, this chart tells us that only 7% of all homes sold are in that price range in Sequim and 6% in Port Angeles.   If you have a home for sale in Port Angeles priced above $450,000 and less than $500,000, you are only reaching 1% of the entire buyer’s market.   Don’t be surprised if it is hard to find that 1 in 100 buyer.   If you’re selling a Sequim home or a Port Angeles home, this certainly broadcasts the need for effective marketing, doesn’t it?

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Is Sequim and Port Angeles real estate selling? What home prices are selling most? If you have a home for sale in the $500,000 to $600,000 price range, you may be frustrated because it hasn’t sold in the past three or six months since it has been listed. So are homes selling in this price range? What about other price ranges? Here is a graphic of exactly what is happening from April 1, 2008 through July 31, 2008.

In Sequim 60% of the homes sold for $200,000 to $300,000.   The number of homes is shown on the “Y” axis.   In Port Angeles 68% of homes sold in this price range.   It gets interesting when you get above $400,000.   Only 8% of homes in Sequim sold for $400,000 to $500,000, and in Port Angeles it was only 5%.   Homes above $500,000 have simply not been selling.   Only a few have sold in all of Sequim and Port Angeles in four months.

The bottom line is that very few homes are selling in the upper price ranges. It becomes obvious that the key is connecting with that one or two buyers who will buy a home in that price range in the next few weeks or months. To connect with that person, you must have an effective marketing plan and a proven methodology to bring that person into your world.

That’s what I do.   Need help getting this done? Email me at chuckmarunde@gmail.com or call me at 360-775-5424.

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