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Home Sequim Home Sales Report

Sequim Home Sales in 2012

Chuck Marunde by Chuck Marunde
July 29, 2012
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Sequim home sales in the first half of 2012 reveal a lot about the Sequim real estate market.  I’ve compiled data from the Olympic Listing Service for the first six months of 2012 showing Sequim home sales and Port Angeles, too.

Sequim Home Sales 1st Six Months

Sequim Home Sales

Sequim Home Sales Interpretation

It’s no surprise that the majority of Sequim home sales are from $100,000 to $400,000, but what may be surprising is that so few homes are selling above $400,000.  As I’ve shown on the graphic above, 97.5% of all Sequim home sales are under the price of $500,000, and in the first six months of 2012 not one home has sold above $700,000.  That’s disconcerting for homeowners trying to sell in that price range.  I will add that I recently sold a home for $725,000 in June but it is not represented on this chart because it actually closes in the first week of August.

Sequim Home Sales of Luxury Homes

It’s clear from this data that Sequim home sales of luxury homes or homes in the higher price ranges are very slow this calendar year.  There are many factors that contribute to slow sales of higher priced homes.  Buyers from California, Colorado, and other states are up against tough markets, and selling their homes first has been exceedingly difficult, although sales have picked up in selected areas of the country.  In the San Francisco Bay area buyers are competing against each other for some homes and forcing prices upward, even above the listing prices.

Even in Sequim I’ve written about how competition has heated up for the ideal retiree home, a three bedroom, two bath home in a nice area and priced from $250,000 to $350,000.  Still this leaves the upper priced homes sitting on the market without qualified buyers who are ready, willing, and able to close.

As I explain to clients, one of the most important things they can do right now in this real estate market is make sure their home is effectively marketed by a professional who has experience to do the job.  No professional can guarantee a buyer will come along in any time period, but the first task is to get your home marketed to as many qualified buyers as possible.  I don’t believe in luck, but I do believe in preparation, hard work, and perseverance in marketing.  Of course, one needs creativity in this technology age, and one needs to tap into a powerful Internet system.  But having done all that, I am reminded of a title to a book I read many years ago.  The book title is All You Can Do Is All You Can Do, and the subtitle is And That’s Enough.  If you’ve hired a great Realtor and your home is getting great exposure, leave the rest to destiny, at least as far as Sequim home sales are concerned.

Last Updated on July 29, 2012 by Chuck Marunde

Tags: sequim home sales
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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 60 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 Sequim Buyer's Agent. 

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Comments 1

  1. Mike says:
    13 years ago

    Chuck, this is very interesting. We just sold our home here in West Salem, Ohio and have moved up our “Moving to Sequim” date to August 23rd, just a few weeks from now. Our home here sold in 3 weeks for just slightly MORE than we listed it for. Amazing. You can see it here: http://sequimandbeyond.wordpress.com. We’re renting in Sequim for the first year, but will for sure contact YOU when ready to begin looking to buy.

    Reply

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