Sequim Home Sales Report is brought to you by SequimRealEstateNews.com and Chuck Marunde. In this chart we are looking at the total homes sold in Sequim compared to Port Angeles from January 1st to Thanksgiving of each year from 2003 through 2009. I’ve weighted the data parameters to get a more accurate picture of the market. Homes sold are site built only and from $200,000 to $800,000.
So far in 2009 Sequim has sold 163 homes and Port Angeles has sold 120 homes. The gap between the two cities has closed somewhat from previous years, particularly since 2005. In 2005 Sequim sold 70% more homes than Port Angeles, but in 2009, Sequim only sold 36% more homes than Port Angeles. Why? First, retirees make up the bulk of Sequim’s buyers, and many retirees are waiting out the recession. While Port Angeles buyers also includes many retirees, the buyer population is a little broader. Second, home prices in Port Angeles are less than in Sequim, and in difficult economic times Port Angeles will draw buyers away from Sequim.
Not shown in this Sequim Home Sales Report is a comparison of homes sold in Sequim and Port Angeles just for the month of November of 2009 (up to Thanksgiving, at least through the 23rd). Using the same parameters, the total homes sold thus far in November in Sequim were 13 compared to only 3 in Port Angeles. Sequim still remains the major retirement community on the Olympic Peninsula. (Source of data: Olympic Listing Service)
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