This real estate market report covers September of 2014 and compares listings, volume, and prices to the prior month and prior year. We continue to see the small Sequim real estate market get stronger, albeit slowly and steadily. The inventory continues to shrink for the ideal retirement home, prices are creeping upward, and homes from month to month are selling in shorter time frames.
Real Estate Market Report on Video
Real Estate Market
The number of active listings was down 20% in September compared to last year. The median listing price was up from $314,000 to $338,000. The median sales price was was also up from $205,000 to $270,000. And the time on market (days on market) was down 7%. These are all strong indicators of an improving or stronger real estate market.
The Sequim real estate market seemed to plateau about two years ago, roughly, and has been showing signs of strengthening since. In an earlier article I wrote that Sequim Real Estate Prices Are Still Undervalued. No one knows what the future holds, but based on the home sales history in the Sequim area, we bottomed out years ago and have been on a slow upward move.
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