Sequim Real Estate Price Reductions

Sequim and Port Angeles real estate listings have seen some reductions in prices recently. Realtors love to use euphemisms. Just as a used car is a “pre-owned car,” so a price reduction is a “price improvement!” True from the buyer’s perspective, but certainly not from the seller’s perspective.

In the last three months, there have been 298 properties (homes and land) in the Sequim area that have had the listing price reduced. In Port Angeles, 220 properties have had a price improvement. Here’s a graphic showing the reductions.

In Sequim listed prices have been reduced in the past three months to about 90.39% of the orginal listed price, and in Port Angeles listed prices have been reduced to about 89.59% of the original listed price. This represents an average price reduction of 9.61% for Sequim properties, and 10.41% for Port Angeles properties.

These are significant reductions, but certainly not the 30% or more that cities like Las Vegas are experiencing. Still this is significant for our area. These numbers are meaningful, because anyone who has their home or land listed for sale must realize that they are not in the driver’s seat to bargain like they were in 2005. This is a buyer’s market. Sellers are not in control, at least not until the market begins to come back stronger.

NOW, do you want to see some actual numbers? Below is a list of 167 listings that have been reduced in price, and I’ve only included the major buyer’s range from $200,000 up to $460,000. Look at the last column to see the actual dollar amount of the reductions. There are many $25,000 reductions, $40,000, $65,000, and up from there. I haven’t included the million dollar home price reductions, because the majority of the buyers are just not there. But if you’re thinking a $5,000 price reduction might move your house, think again. Many have reduced the price 10 times that amount and more.

Read the rest of this post to see the full table of price reductions below.

List Price	Price Now	DOM	% Reduced	$ Reduction
$525,000	$460,000	112	12.38%	65000
$499,999	$459,000	205	8.20%	40999
$529,000	$455,000	448	13.99%	74000
$474,321	$449,900	72	5.15%	24421
$495,000	$449,000	363	9.29%	46000
$485,000	$449,000	168	7.42%	36000
$525,000	$448,000	477	14.67%	77000
$469,000	$439,000	121	6.40%	30000
$425,000	$435,000	104	-2.35%	-10000
$445,000	$429,000	96	3.60%	16000
$449,900	$424,900	134	5.56%	25000
$499,950	$419,000	560	16.19%	80950
$449,000	$419,000	184	6.68%	30000
$510,000	$418,000	214	18.04%	92000
$429,900	$415,500	46	3.35%	14400
$449,000	$409,000	58	8.91%	40000
$428,900	$399,950	19	6.75%	28950
$424,500	$399,900	117	5.80%	24600
$450,000	$399,900	336	11.13%	50100
$449,500	$399,900	288	11.03%	49600
$425,000	$399,900	26	5.91%	25100
$424,900	$399,900	368	5.88%	25000
$439,000	$399,900	386	8.91%	39100
$409,000	$399,500	77	2.32%	9500
$426,500	$398,600	98	6.54%	27900
$399,900	$389,900	72	2.50%	10000
$479,900	$389,000	520	18.94%	90900
$399,000	$389,000	310	2.51%	10000
$399,999	$379,999	21	5.00%	20000
$399,500	$379,900	209	4.91%	19600
$420,000	$379,000	29	9.76%	41000
$397,700	$375,000	126	5.71%	22700
$399,000	$375,000	115	6.02%	24000
$399,000	$375,000	111	6.02%	24000
$399,500	$374,000	106	6.38%	25500
$399,900	$372,900	309	6.75%	27000
$384,700	$369,000	105	4.08%	15700
$384,500	$365,000	97	5.07%	19500
$449,000	$365,000	283	18.71%	84000
$415,000	$365,000	327	12.05%	50000
$375,000	$355,000	94	5.33%	20000
$399,000	$350,000	767	12.28%	49000
$379,950	$349,950	48	7.90%	30000
$379,000	$349,950	121	7.66%	29050
$365,000	$349,900	331	4.14%	15100
$369,900	$349,900	173	5.41%	20000
$389,000	$349,500	78	10.15%	39500
$389,500	$349,500	43	10.27%	40000
$380,000	$349,000	155	8.16%	31000
$372,000	$345,000	31	7.26%	27000
$415,500	$344,900	54	16.99%	70600
$359,000	$344,000	191	4.18%	15000
$365,000	$339,900	324	6.88%	25100
$359,900	$339,900	54	5.56%	20000
$429,000	$339,000	84	20.98%	90000
$333,650	$333,650	44	0.00%	0
$349,500	$329,500	119	5.72%	20000
$359,000	$329,000	429	8.36%	30000
$349,000	$329,000	69	5.73%	20000
$339,000	$329,000	91	2.95%	10000
$359,000	$329,000	82	8.36%	30000
$365,000	$325,000	120	10.96%	40000
$339,000	$320,000	127	5.60%	19000
$329,950	$319,950	103	3.03%	10000
$335,000	$318,000	211	5.07%	17000
$339,000	$314,900	285	7.11%	24100
$349,900	$309,900	315	11.43%	40000
$329,000	$309,000	103	6.08%	20000
$365,000	$308,673	432	15.43%	56327
$314,900	$304,900	84	3.18%	10000
$335,000	$300,000	148	10.45%	35000
$328,950	$299,999	119	8.80%	28951
$319,900	$299,950	149	6.24%	19950
$364,950	$299,950	415	17.81%	65000
$335,000	$299,900	158	10.48%	35100
$379,000	$299,900	366	20.87%	79100
$369,900	$299,000	126	19.17%	70900
$320,000	$299,000	435	6.56%	21000
$310,000	$299,000	89	3.55%	11000
$309,000	$299,000	134	3.24%	10000
$324,000	$299,000	130	7.72%	25000
$299,000	$299,000	49	0.00%	0
$309,000	$299,000	36	3.24%	10000
$319,000	$299,000	217	6.27%	20000
$305,000	$298,000	78	2.30%	7000
$307,500	$297,777	251	3.16%	9723
$349,500	$295,000	106	15.59%	54500
$314,900	$295,000	134	6.32%	19900
$309,000	$290,000	56	6.15%	19000
$329,000	$289,900	307	11.88%	39100
$319,000	$289,500	194	9.25%	29500
$309,500	$289,000	55	6.62%	20500
$299,000	$289,000	78	3.34%	10000
$319,900	$287,500	46	10.13%	32400
$289,500	$285,000	102	1.55%	4500
$299,900	$284,900	99	5.00%	15000
$287,500	$279,500	63	2.78%	8000
$299,000	$279,000	80	6.69%	20000
$299,500	$279,000	232	6.84%	20500
$299,000	$279,000	80	6.69%	20000
$350,000	$279,000	289	20.29%	71000
$283,900	$275,000	189	3.13%	8900
$319,000	$275,000	124	13.79%	44000
$289,950	$274,950	175	5.17%	15000
$279,500	$272,500	48	2.50%	7000
$312,000	$272,500	125	12.66%	39500
$289,950	$269,950	175	6.90%	20000
$314,950	$269,900	140	14.30%	45050
$350,000	$269,000	282	23.14%	81000
$265,000	$265,000	170	0.00%	0
$280,000	$265,000	84	5.36%	15000
$369,000	$265,000	230	28.18%	104000
$278,900	$264,500	76	5.16%	14400
$269,000	$264,000	57	1.86%	5000
$289,000	$262,000	104	9.34%	27000
$274,900	$260,900	107	5.09%	14000
$289,000	$259,900	174	10.07%	29100
$285,000	$259,500	308	8.95%	25500
$295,000	$259,000	441	12.20%	36000
$274,900	$259,000	79	5.78%	15900
$269,500	$255,000	97	5.38%	14500
$269,000	$254,000	15	5.58%	15000
$275,000	$250,000	164	9.09%	25000
$269,950	$249,950	127	7.41%	20000
$259,000	$249,900	79	3.51%	9100
$255,000	$249,500	133	2.16%	5500
$289,000	$249,000	336	13.84%	40000
$259,900	$249,000	85	4.19%	10900
$255,000	$249,000	50	2.35%	6000
$310,000	$245,000	126	20.97%	65000
$310,000	$245,000	72	20.97%	65000
$260,000	$245,000	83	5.77%	15000
$260,000	$245,000	83	5.77%	15000
$260,000	$245,000	83	5.77%	15000
$265,000	$243,500	202	8.11%	21500
$264,900	$243,500	102	8.08%	21400
$259,900	$239,900	125	7.70%	20000
$249,500	$239,500	100	4.01%	10000
$249,500	$239,500	91	4.01%	10000
$246,000	$239,450	53	2.66%	6550
$263,000	$239,000	95	9.13%	24000
$249,000	$239,000	54	4.02%	10000
$299,000	$236,000	1032	21.07%	63000
$249,500	$235,000	133	5.81%	14500
$237,375	$234,500	129	1.21%	2875
$275,000	$232,000	366	15.64%	43000
$265,000	$229,999	222	13.21%	35001
$239,000	$229,900	183	3.81%	9100
$249,900	$229,900	100	8.00%	20000
$229,900	$229,000	57	0.39%	900
$235,000	$228,000	286	2.98%	7000
$249,000	$225,000	142	9.64%	24000
$213,500	$221,950	64	-3.96%	-8450
$225,000	$220,000	40	2.22%	5000
$256,000	$220,000	97	14.06%	36000
$269,000	$220,000	202	18.22%	49000
$239,900	$219,900	48	8.34%	20000
$254,900	$219,900	153	13.73%	35000
$224,950	$214,950	84	4.45%	10000
$249,000	$214,000	26	14.06%	35000
$220,000	$210,000	189	4.55%	10000
$250,000	$209,999	222	16.00%	40001
$235,000	$205,000	128	12.77%	30000
$217,500	$205,000	146	5.75%	12500
$224,950	$204,950	36	8.89%	20000
$225,000	$200,000	33	11.11%	25000
$235,000	$200,000	168	14.89%	35000