Is the Sequim real estate market recovering? I believe it is, and this chart is persuasive. While there are no guarantees in life, and certainly none in the real estate market, the Sequim real estate market is showing strong and steady signs of recovery. Home sales are the best they’ve been in five years.
Sequim Real Estate Market and Sales
This chart shows all Sequim and Port Angeles home sales in the price range of $200,000 to $800,000 from January through August of each year starting in 2003. This represents the past 11 years of the Sequim real estate market. What’s encouraging is that 2013 shows sales are up for the past three years, and the increases are substantial. From 2011 to 2012 the increase was 16%, and from 2012 to 2013 the increase has been exactly 50%. From 2011 to 2013 homes sales increased a whopping 75%. [Be sure to enlarge the image above by clicking on it.]
Sequim Real Estate Market
While this is definitely encouraging for Sequim and Port Angeles home owners who have wanted to sell their homes but haven’t yet, we’re probably not beyond economic ups and downs. Our federal debt, our state debts, our economy, fiscal and monetary policy, unemployment, and regional and local issues all will effect how sales and prices play out in the coming years. But based on some pretty darn solid data from the Olympic Listing Service, it is reasonable to say that the Sequim real estate market is in recovery.
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- Should I Submit a Backup Offer in this Market?
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