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Home Home Building New Construction

New Construction in Sequim and Port Angeles

Chuck Marunde by Chuck Marunde
September 20, 2019
Reading Time: 2 mins read
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New construction of homes in Sequim and Port Angeles has slowed with the pause in the real estate market, but exactly what does the volume of new construction look like recently, and how does that compare to the historical record? Here is the data. Click on Graphs to Enlarge.

For the same time period, the average sales price is represented by this graph:

New construction from 2000 through November of 2007, which gives us the bigger picture is represented by the following two charts, first sales volume and then average price. Click on Graphs to Enlarge.

Data courtesy of Real Market Data. One caveat regarding the definition of “new construction” in their data: New construction only includes first time sales of land and home together. In other words, new construction is when a builder owns the lot and builds a house and sells the package together. Their data does not include the construction of a new home on land purchased separately. That could include a significant percentage of the market in Clallam County as many people first purchase their lot and then hire a building contractor. Probably what is most significant about the data in these charts is the trend. The depiction of this trend is probably a good reflection of the overall new construction market.

Sales volume appears somewhat erratic from month to month, but that is because this is a small market compared to Pierce or King County. You will see one month at just over $1 million and another month over $3 million. The difference may be three or four houses, or it could be just one.

The longer history is probably the most revealing. Seven years ago the average price of new construction was about $150,000 and now it is about twice that at $300,000. The new construction momentum can be seen in this seven year volume history in 2004, 2005, and 2006. While we see a slow down in current months, 2007 was certainly respectable. It remains to be seen how this coming season of new construction going into the spring of 2008 will develop.

Last Updated on September 20, 2019 by Chuck Marunde

Tags: New Constructionnew homes
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service.    Privacy   I hope you'll join our community and leave comments from time to time. Please realize that comments, if approved, will be public, so do not use any personal information you don't want broadcast to the world, and definitely don't leave a phone number. Comments are not the place to ask Chuck Marunde for help in finding a home. To do that, call or text Chuck. Privacy Policy   If you'd like to view how we protect your privacy, see our Privacy Policy.

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  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
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    • Living in Sequim Video Channel
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      • Menu Below
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    • The Seven Myths of Selling Your Home
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