I have been asked if the Sequim real estate market is picking up? In this current market this question comes up regularly. The answer is yes. Let me explain. It’s no secret that spring and summer is the best time of year to sell a home. The winter months are traditionally much slower, and in this recession, the winter months have been slower than normal. I still sold a home every month throughout the winter, but what about now in these spring months. Buyers continue to come to Sequim and retire and buy Sequim real estate, and the number of buyers looking at Sequim homes has definitely picked up big time.
Sequim Real Estate Market
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Sequim Real Estate Buyers
I’ve been very busy showing homes every week for the past month to new buyers from out of state, and I’ve been busy scheduling appointments with new buyers coming to Sequim in the weeks and months ahead. Other Realtors area also showing more homes suddenly. There’s no question that the buyers are here, and they are qualified serious buyers. Almost all of my buyer clients do not need to sell an existing home in their state. They have excellent credit, and some are paying with cash.
Sequim Real Estate Prices
While buyers are arriving and shopping aggressively, they are only buying homes that are reasonably priced. A listing that is grossly overpriced, and there are many, may not even get any offers. Buyers are turned off by Sequim real estate that is priced so high that it is over the top, and they often don’t bother making an offer they feel is more reasonable. I did have a client last week who made an offer, a reasonable offer, on a home that is grossly overpriced, and the owner who is also an agent, reacted with anger and struck out at me personally as a buyer’s agent. That’s unfortunate for that seller. She will never sell a home that way. My buyers make offers that are based on fair market value (FMV) and what is reasonable in the current market, not based on what a seller thinks they should get (or what a seller needs to pay off a loan).
The statistics on sales won’t indicate a pick up in sales for a couple of months when these transactions actually close and show up in our MLS statistics, but I can tell you without any doubt that buyers have arrived, and they are looking at Sequim real estate.
You can view all Sequim real estate for sale right here in the Sequim MLS.
I would add that every time I am out showing homes, some of the homes on our list have sold out from under us. Last weekend as I showed homes on our list of eight homes to view, two of them were just sold. How do I explain this in what is supposed to be a real estate recession? Easy. The best homes in the best areas that are listed at the best prices are selling to qualified retirees. Retirees tend to look at similar homes, so the same two or three dozen homes that are in that category of the best homes will get looked at by more buyers, and these are the homes that are selling. Sequim real estate is selling and buyers have arrived.
Last Updated on September 4, 2011 by Chuck Marunde
We were just wondering if waterfront land is still desirable in the Clallam County and City of Port Angeles? There are so many custom homes on the market in Sequim, and Port Angeles, we wonder if it really makes sense to build.
Yes Charley, waterfront land is not only desirable, but it is still the most precious real estate sought by buyers from all over the country who are retiring to the Sequim and Port Angeles areas. Even though we are on a Peninsula, there are not very many gorgeous waterfront lots available for sale at reasonable prices. I could sell them at $200,000 every week if they existed, but they are hard to come by. Retirees cannot always find the ideal home with the right floor plan, their idea of a perfect kitchen, and the man cave, so many retirees are still building their retirements homes here, albeit not as many as in 2005.