This Sequim real estate market report is brought to you by Chuck Marunde and Sequim & Port Angeles Real Estate. This video report is short and concise, just the kind of video report consumers seem to love. There are several key pieces of information on this video, and after you’ve watched it, I’ll comment below.
Sequim Real Estate Market Report
First, the number of active listings in Sequim is down in November compared to October by 19%, and the number of active listings is down by 23% compared to last year at this time. The average listing price in November is up from $255,000 to $300,000 compared to last year. The number of days a home was on the market before being sold was down 18% (132 days vs. 161 days). Now check this out. The number of homes sold in November of this year compared to last year increased by 88%! Wow.
Sequim Real Estate Market Improving
How shall we interpret this Sequim real estate market report? My interpretation is that the market has improved dramatically over last year. This is consistent with all of this data. We have fewer listings because homes have been selling and the inventory has been shrinking. I’ve been writing about our shrinking inventory for a while. Four years ago I suggested that we would find ourselves with a shrinking inventory with builders not building and a limited number of ideal homes that most retirees want. The average price of sold homes has increased by $45,000. That is a result of supply and demand. The number of days on market (DOM) has sharply dropped indicating that homes are selling faster in a tighter market. And sales increased by a whopping 88%! That certainly is a strong indication that the Sequim real estate market has improved substantially over last year.
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