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Home Sequim Home Sales Report

Sequim Home Values

Chuck Marunde by Chuck Marunde
July 19, 2012
Reading Time: 3 mins read
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What have Sequim home values done before and during this recession?  What is the trend for home prices in Sequim and where do we stand today?  I had a client call from California to ask me my opinion of the value of her home.  She paid $300,000 for it in 2007, and yet today it is worth much less, almost precisely the tax value that the Clallam County Tax Assessor gave it this year, which is $186,000. [Read the full story at Did I Pay Too Much For My Home?] The County assessed values are not always right on.  Sometimes they are high, and sometimes they are low.  In this case I think they got it right.  And I’ve been surprised at how many times the County Assessor has got it right.

Sequim Home Values and County Tax Assessments

Sequim Home Values

I sold a home recently in the Sunland Golf Course area.  Charting the Tax Assessor’s values from 1998 through 2011 creates a chart that shows the pattern of Sequim home values over these years.  I charted many homes in the same way, and I was fascinated to see precisely the same pattern each time.  While the prices are different from home to home, the Sequim home values tend to show the same percentage increases and decreases in value in the same years. 

Sequim Home Values Based on Sales

It should be no surprise that charting Sequim home values from the Clallam County Tax Assessor’s data would show a realistic trend on prices, because the Assessor software is using actual sales of homes within a radius of the subject property.  While their software does not make the fine distinctions an appraiser can make by differentiating home features and views and construction quality, their software manages to show a trend that I find to be consistent with reality. [Read How To Use The Tax Assessment Website]

Sequim Home Values and Trends

The trend has been increasing Sequim home values from 1998 to 2003 with a pause, and then a continuing increase in values through 2006, a leveling off through 2008, and then declining Sequim home values through 2011.  I would add this commentary about the Tax Assessments.  They are lagging indicators.  In other words, you could move all these bars up one year earlier and you would have what would probably be a more accurate timeline of Sequim home values.  [Read Assessed Tax Value vs. Sales Price]

If you look at the value the Assessor’s software assigns to your home, you might be surprised at how accurate it is in light of the true fair market value of your home in this market.  As I said earlier, sometimes the Assessor’s values are off, and sometimes way off, but more often than not, they are turning out to be fairly accurate lately.  Fortunately, Sequim home values appear to be leveling off for now.

Last Updated on July 19, 2012 by Chuck Marunde

Tags: Sequim 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. 

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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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