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Home Sequim Real Estate Market

Real Estate Markets are Unique

by
July 27, 2012
Reading Time: 2 mins read
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One of the challenges of living in one part of the country for many years and then shopping for a home in a new area where you intend to retire is that markets tend to be so different around the country.  I’m in Las Vegas as I write this visiting my son, and it’s a great opportunity to look at houses.   How different the Sequim and Port Angeles real estate market is from the Las Vegas market.

Homes for Sale

Las Vegas has a much bigger market and inventory, and there is a large inventory of foreclosures, too, that dwarfs the Sequim market.  The architecture is dramatically different, and neighborhoods are different.  And the state of the real estate market has driven the prices of homes in Vegas way down.  A home can be purchased in Vegas for $150,000, and a very small home can be purchased for around $100,000.  A beautiful custom home with 4,000 square feet, two levels, four bedrooms, and bathrooms in each bedroom can be purchased for around $500,000.  This same home would have been closer to $800,000 a few years ago.

The Sequim market has been much more stable, and nice homes are not cheap.  You can find a beautiful home in the $275,000 to $450,000 price range.  Incredibly beautiful.   Lots are priced very low at this time, too.

It seems to me that when coming to Sequim or Port Angeles to look at homes, you have to shift your thinking from the style of homes and neighborhoods and prices where you live now to the local market.  Our Sequim market is unique and most likely quite different than the market where you live now.  As I jog through Vegas neighborhoods this weekend, I can see how dramatically different the market is here.

Last Updated on July 27, 2012 by Chuck Marunde

Tags: real estate marketsSequimvegas
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Comments 1

  1. Home Insurance Quotes Blog says:
    13 years ago

    This is so true. Even mortgage lenders are weary of getting licensed in a new state since they just aren’t familiar with how things are valued in a different state.

    Reply

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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
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
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