This post is written by Jason Lee, Real Estate Agent at Sequim 'Welcome Home Realty'. Meet Jason for his Sequim Open House April 7 (info below).We consider his realtor's Sequim real estate market analysis a great contribution to our Sequim town blog. Thanks, Jason, for taking the time to give us an insight into Sequim homes for sale of the present real estate market.
Hello to the all the folks who love Sequim whether they be residents or just wish they were. Spring has definitely arrived in full force this first week of April with temps hitting 65 degrees and my neighbors rhododendrons threatening to collapse under the weight of their own blossoms. The sun's out, lawn mowers are firing up and we come to that time of year when many people's thoughts are turned to love. Well. okay I'm probably not the person that should be writing about love, but I can write about next the most popular item of interest and frequently asked question in the spring, namely "what is the world is the current condition of our real estate market in Sequim?"
There is a lot of doom and gloom out there that just isn't justified. Sequim's real estate market is strong and if we are to believe the corporate folks who keep trying to plug the town with big box stores then there is no predicted end in sight to the area's growth. There is a misconception
because of all the homes on the market that nothing is selling which just isn't true. There is definitely a phenomenon of an abnormal amount of people trying sell their home right now brought about by a cooling of the economy, fear that home prices will continue to fall, rising interest rates and various other reasons. Home prices in Sequim did cool in the second half of 2006 and since early 2007 have started to level off. Many people will disagree, but the appreciation did need to stop for the time being and it's certainly in the communities interest as a whole to have some homes that people can afford.
That being said homes continue to sell at a brisk rate and all signs point to a busy summer in the real estate market. The amount of homes sold last year in the general Sequim area was a virtual tie for the 4th best year ever, which isn't too shabby considering if you believed the media it sounded like it was the 4th worst year ever. Year to date sales in 2007 are strong and only 3 homes behind 2006 at 109 and 112 respectively.
There is a general feeling of concern in Sequim that there are too many lots on the market. Whether there is or not does not seem to be affecting real estate prices in general. Lot prices have continued to remain high with more price increases over the last 6 months than reductions. As long as land prices stay high and affect the cost of having a house built homes will continue to hold their value regardless of how many lots are available. Another important variable is that as long as gas and material prices go up and make it more difficult to have a house built economically existing homes will be an attractive option.
As far as what is in the works for this summer in Sequim, well let's just say it's going to be busy. There are several new developments that have come on line with a mix of lots and homes for sale Several builders are trying to keep their prices in the mid 200's which is a little less that you could find a new home for last year. For the first time in a while there should be some smaller saltwater view lots coming on the market this summer on Bell Hill that will be priced significantly less than what we have now.
Enjoy the Weather, Jason Lee real estate agent at Welcome Home Realty
For your Sequim Real Estate needs, you may contact Jason at 360-460-8161 or email.
If you or your friends are interested in moving to Sequim and buying a Sequim home with mountain views in peaceful neighborhood, meet Jason for his Sequim open house April 7, 11am - 2pm.
Expansive views from this new home in The Estates neighborhood. Well-laid-out 3 bedroom home with a den and formal dining room. Hardwood floors, Corian counters, and vaulted ceilings make this the home you don't want to miss. Just minutes from shopping, with a neighborhood park and tennis court this is the best new neighborhood in Sequim. $359,950 ML# 224056 Directions: East on Washington to East on West Sequim Bay Road. Right on Morgison Loop into The Estates.Tags:
1 comment:
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