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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

Sequim's No.1 Buyer's Agent Where Knowledge & Experience Count.

(360) 775-5424
Email: ChuckMarunde@gmail.com

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125 Olympic Ranch Ln, Sequim, WA 98382

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Sequim Real Estate Market

by Chuck Marunde / Saturday, 22 August 2020 / Published in Buyer's Agent, Sequim Market Reports, Sequim Real Estate Market, Sequim Real Estate Prices

The Sequim real estate market has seen it’s toughest year yet with high demand for the best homes in the best areas at a time when the inventory is at historical lows. Here’s what has been happening in the Sequim real estate market with the latest data over the past ten years. This first graph is interactive. Drag your mouse across the line and you see the data for time period. This first graph shows the average sales price of single family homes with at least 3 bedrooms with a minimum price of $275,000. This is the filter that 98% of retirees moving to Sequim would be within. If you’re looking for a nice 3 bedroom, 2 bath home on an acre with some kind of peaceful view of the mountains or a water view, and you want what most retirees want–a modern open floor plan with a nice kitchen and a large master bedroom and nice master bath, you are not going to find that in the Sequim area for under $275,000 if it is a site built home. So these charts of the Sequim real estate market will most likely describe what the vast majority of retirees want.

The most recent data on the far right of this charge above shows the average sales price of a home in the Sequim and Port Angeles area is $433,297. What’s interesting and what the charge shows us nicely is the trend. In April of 2013 the average sales price was $352,156. In April of 2016 it was $378,773. In October of 2019, almost a year ago, it was $415,958, and then we had a high in June of 2020 of $436,999. As of July of 2020, it is down slightly to $433,297.

From the low to the high (April of 2013 to June of 2020), we saw a 24% increase in price in 7 years, or an average of 3.4% increase per year. That’s not bad, is it? It’s a nice increase over the 7 year period, but Sequim is a fairly stable real estate market, and even the improving Sequim real estate market has been stable.

This chart above shows the reality that homes are essentially selling for full listing price, or very close. Perhaps a quick interpretation by someone with boots on the ground here will be helpful. The nice homes are selling for the listed price, and many are selling for more than listed price. So how does the percentage of selling price to listed price get averaged down to 98%? That’s easy. There are some old and dilapidated disasters no one wants, and they get deeply discounted dragging the average down.

And this last chart clearly shows the inventory dropping and dropping until now we only have 2.9 months of inventory left. That compares with back in September of 2011 when we had 25.3 months of supply in our housing inventory. For clarification, the current inventory of 2.9 months does not include the homes at the top of the Bell Curve. There are very few of those to be found anywhere in the inventory at this time. Of course, those are the single level, 3 bedroom, 2 bath homes with 1,700 to 2,400 square feet with an open floor plan and a modern beautiful kitchen, a large master bedroom and master bath, and a peaceful area with maybe an acre, plus or minus, and a nice mountain view or a valley view of some kind.

It’s tough for buyers to find their ideal home right now in this Sequim real estate market. Call me way ahead of time if you are planning to come and look at homes. I’m an exclusive Sequim Buyer’s Agent, and I think after you do your research on me, you’ll be pleased to hire me. Because of the shortage in the Sequim real estate inventory, I’ve been helping my buyers find homes in surrounding areas, including Whidbey Island. If you need help expanding your search outside of Sequim, I would love to work with you as your buyer’s agent.

Possibly Related Posts:

  • Are Buyers Competing to Bid Prices Up?
  • Are We At The Top Of The Real Estate Market?
  • Chuck Marunde Shares Personal Note
  • Should I Submit a Backup Offer in this Market?
  • How Does a Buyers Agent Work?

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About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

Blog Articles by Date

From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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