Doc Reiss, CRS, GRI, Realtor®

Port Angeles Office

Market report



Clallam County Market Report

 October, 2016

Hi there, I’m Doc Reiss at Town & Country, welcoming you to the Clallam County Real Estate Market Report for October, 2016.

 

Let’s start with a look at Sequim residential sales.  Last October had 67 sales, and average of $241,836 per unit and $16,203,000 total volume.  This October has seen 47 sales with an average of $245,837 per unit for a total volume of $11,555,000.  

 

Year to date in 2015 there were 656 sales at an average of $255,122 and a total dollar volume of $167,360,000.  This year to date we’ve had 408 sales, but the average price is up to $364,166 for a total dollar volume of $148,600,000.  Unit sales are down 38% in Sequim, but the average price is up 30%, and total dollar volume is down 12%.

 

Turning our attention to Port Angeles, last year in October we had 52 sales for an average of $228,000, total of $11,850,000.  This year we had 38 sales in October at an average of $235,055 and total dollar volume of $8,930,000.

 

Last year to date there were 459 sales at an average of $205,060 and a total of $94,122,000.  This year has seen 340 sales so far, at an average of $285,197 and $97,000,000 total.   Sales volume is down 26%, average price is up 35%, and total dollar volume is up 3% for Port Angeles.

 

Let’s look at land sales.  Last October saw 16 pieces of land sold in Sequim at an average price of $90,838, for a total of $1,453,000.  This year we’ve had 26 sales at an average of $77,719 for just about $2,000,000 in total sales.

 

Last year to date saw 165 pieces of land sold in Sequim at an average price of $97,700 for $16,122,000 total volume.  This year there have been 168 sales year to date, at an average of $106,141 and a total of $17,831,637.  Volume is up 2%, average price is up 8%, and total dollar volume is up 10%.

 

Last October in Port Angeles had 4 land sales at an average of $90,250 for $361,000 total.  This October has seen 10 sales averaging $62,175 and a total volume of $621,750.

 

Last year to date there were 60 sales at an average of $69,669 and a total of $4,180,000.  This year we are at 80 for the year, averaging $76,859 for a total of $6,149,000.  Volume is up 25%, average price is up 10%, and total dollar volume is up 32% for land sales in Port Angeles.

 

Finally let’s look into commercial sales. 

 

Sequim sold 1 commercial property last October for $607,500.  This October that number has doubled to 2 with an average of $673,000.  Last year to date had 8 sales averaging $227,813 for a total volume of $1,822,000.  This year has seen 15 sales so far in Sequim at $326,681 each for a total of $4,900,000.  Commercial sales in Sequim are up 47%, average price is up 31%, and total dollar volume is up 268%.

 

Over in Port Angeles, last October had 2 commercial properties sold at an average of $369,500.  This year there were zero.  Last year to date had 12 sold at an average of $193,000 for $2,320,000.  This year we’ve sold 14 at an average price of $261,000 for $3,658,000 in total volume.  Commercial sales are up 15%, average price is up 26%, and total dollar volume is up 37%.

 

That’s the current market as it sits.  For more information, visit www.docreiss.net, follow us on Facebook at www.facebook.com/docreissrealtor , and as always you can watch us on YouTube at www.youtube.com/user/TOWNCOUNTRYSequim

 

Until next month, Keep Smilin’

 

 

September 2016

 

Last September in Sequim we had 82 sales for $21,953,000.  This year, only 75 sales, but note the volume, $21,906,000.  589 homes had been sold in Sequim by this time last year.  This year, that is down to 372 homes sold.  That means if you are looking at buying, you’re down 9% for the month and 37% for the year, BUT, the average price last year was $256,600 while the average this year to date is $363,507.  You’re looking at an increase in 8.4% on the typical house in Sequim.

 

In Port Angeles, in September of last year, 46 homes were sold.  This year, 52.  This time last year saw 407 homes sold.  This year 300.  That is a drop in volume of 26% for the year, but up 13% for September.  However, the selling price of the average unit went from $202,000 to $275,000, a 27% increase.  Do bear in mind that not all houses are priced the same.

 

Looking at land in Sequim, last September saw 21 pieces of land sold, while this year there have been 16.  Last year by this time, 149 sold in Sequim, this year 159.  Volume is down 24% for the month, but up 7% for the year, with the average property price going up 3%.

 

In Port Angeles last September, 10 were pieces of land sold, while this year there were 8, down 20%.  However, year to date sales of 67 are a 17% rise over the 56 sales at this time in 2015.  The average piece of land has gone up 15% in value!

 

Commercially, last September, nothing was sold in Sequim.  This September, there have been 2.  In Port Angeles, flip that.  2 were sold in September 2015, this year 0.  Last year at this time, 7 commercial properties had sold in Sequim, this year 13.  Port Angeles is up also, going from 10 at this time last year, to 14 this year.  Those are volume increases of 47% and 29%, respectively.

 

The market is hot and getting hotter!  That’s it for this month.  Be sure to like my Facebook page, www.facebook.com/docreissrealtor and follow along!

 

Until next month . . . Keep Smilin'!

 

 

 

August 2016:

Imagine you are a car dealer, and you show up one morning to find ten cars on the lot.  You now have an idea of what your Realtor is going through.  The Port Angeles/Sequim market is down about 50% in the number of homes we have available.  Sales are still fairly brisk and some inventory that had not moved previously is now selling.  

Normally, Port Angeles would have around 325 to 350 home available at this time of year.  As of the 29th of August we had 174 active listings.  Sequim would usually hold about 480 active listings.  As we wrap of the end of August, we’re looking at 222.

The trend I reported on in my last update was that property prices were going up shows no sign of going away.  In August of 2015 there were 60 residential sales in Port Angeles  for $11,900,000.  The average price was $198,000.  In August of this year there were 44 homes that sold.  The total dollar volume was $12,871,000.  The average price sold $292,500.  Word of warning, this does not mean that housing prices have gone up almost $100,000.  It means more expensive homes were sold.  The median price - that number exactly in the middle of the range of prices -- was $197,000 in 2015.  In 2016 that number is $237,500.

Last year Sequim had 81 sales in August for a total of $21,265,000.  This August that number is up a bit with 90 sales and a total dollar amount of $26,773,000.  The average price in 2015 was $262,500.  This August it’s $297,500.  The median price is up $42,500 from $230,000 to $272,500.

Looking at the summer season (June through August) in 2015, Sequim had 248 residences sell for a total of $63,769,000.  This year it was 239 sales for $67,321,000.  Port Angeles had 171 sales last summer for a total of $35,415,000.  This year we have seen 146 sales for a total of $38,345,000.

If you are looking to sell, the market is looking for your home.  If you are looking to buy, keep looking and be prepared to make an offer when you find the home you like because odds are no matter where you are in the county it is not going to be lasting long on the market.

Until next month . . . Keep Smilin'!