The Sequim real estate market has been undergoing dramatic changes in the last 24 to 36 months after a long recession. Of course, Sequim’s buyers come from all over the United States, and when real estate markets change elsewhere, the Sequim real estate market feels the reverberations. If markets come to a halt in California and other states, homes sales in Sequim come to a screeching halt. In this video report, I’ll put the Sequim real estate market in context to help you understand it better as you search for your Sequim home. Be sure to enlarge the video and choose HD quality in your settings (or 1080 pixels).
Sequim Real Estate Market Report
Sequim Real Estate Inventory and Prices
As you can see from the charts in this video, supply and demand brought prices up since this time three years ago, and for the 3 bedroom home above $200,000, the average home price in Sequim has increased by $100,000. That’s the largest increase I believe the Sequim real estate market has ever experienced.
Sequim is a small market with a small inventory by comparison to other markets, and we have a small number of retirees moving to Sequim steadily. Once retirees buy a home in Sequim, they do not leave for 15 to 20 years. That means there is very little turnover of homes, and it also means there is a limited supply of homes coming on the market throughout the year. As the real estate market improved around the U.S., home sales went up in Sequim, inventory shrunk, and prices have been moving upward.
I hope you find this video useful, and if I can help you find your home as your Sequim Buyer’s Agent, please feel free to reach out to me by phone or email (ChuckMarunde@gmail.com).
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