The Sequim real estate market is in a very interesting phase right now. We have an apparent contradiction in the market. We have homes that have been listed for sale for over 1,500 days, and we have 77 homes that have been on the market for more than one year. And yet we have homes that are selling as soon as they hit the market in the first few days, and buyers are bidding some of those homes above the listed prices.
The Sequim Real Estate Market Heats Up
I recently submitted a full price offer for a buyer, and the offer addressed the fact that the roof would have to be replaced, asking that the seller share that cost. Normally, the seller would respond with a counteroffer, but in this case the listing agent reported back to me that the seller had accepted one of three other offers that all came in at the same time. I’ve written many full price offers in the past six months and one above listed price. From this perspective, the Sequim real estate market is recovering nicely.
Sequim Real Estate Market Recovering?
At the same time we have many homes that have been on the market for two or three years or more. And we have other homes in between that have been on the market for quite a while, but then sell to the perfect buyer who comes to Sequim at the right time, like the home in this photo. What is happening is really no surprise. Retirees are looking for nice homes in nice areas, and they want a good floor plan, a newer home with quality construction, and they want a great location with a nice view of water or mountains. These are the homes that are selling nicely in the Sequim real estate market. The homes that are less appealing are left sitting on the market for long periods of time. This creates an apparent contradiction in the market so that one person might say the market is still in a serious recession, and someone else might say the Sequim real estate market is heating up and in recovery.
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