The Sequim real estate market has gotten a big boost from increased sales in key areas around the country. When retirees can sell their homes in California, Colorado, Texas, or New York, they have the funds and confidence to make the move to Sequim and Port Angeles. And they are.
Sequim Real Estate Market Echoes Other Markets
Houston’s housing market recorded the third-highest sales total in the city’s history in June with record-high prices and fast-paced dealing continuing a torrid tone this summer.
June marks the 17th month in a row that both home sales and prices have been higher in Denver than the same month last year.
A whopping 92 percent of buyers in San Francisco paid more than the asking price in June. In Chicago 20 percent of buyers paid more than the asking price in the same time period. Since California home sales have a substantial impact on the Sequim real estate market, this is good news for Sequim.
In New York, pending sales, a measure of future activity, were up 14.5 percent. The median sales price, $218,050, was up 6.4 percent.
Sonoma County’s residential real estate market chalked up $1.34 billion in sales for the first half of 2013, its best showing in six years.
In May, San Diego home prices were up nearly 24 percent over last year’s, and California as a whole experienced the biggest year-to-year housing price jump in 33 years.
Sequim Real Estate Market Looking Up
All this means that buyers have cash in hand to buy their retirement homes in Sequim. Supply and demand has stabilized prices in Sequim, and I am selling many homes at full listing price, provided of course, that the listing price is a reasonable fair market value price. This is good news for homeowners in both Sequim and Port Angeles who have nice homes that retirees are looking for. It’s not necessarily going to help homeowners with homes that retirees do not want.
We can say this for sure: increased home sales around the country have boosted the Sequim real estate market for sure.
Last Updated on September 20, 2019 by Chuck Marunde
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