One of the most recent issues of the
Sequim Gazette tells us and Sequim house hunters all about it. Looks like the Sequim housing market is following now the Seattle trend, which even during the house bubble burst did not seem to be affected by the down spiral of the national market but instead continuously proved solid and stable in its trend.
The recent surge in house sales led to low inventory with 270 homes for sale a month, the lowest second quarter inventory since 2005 according to Team McAleer and an increase in prices. In the second quarter 204 homes were sold, which is the highest amount ever sold in the second quarter. Since 2007, that's when we bought our house in Sun Meadow at a high real estate market, the median price sale went from $290,000 to $300,000. A lot of Sequim home buyers are coming from the Seattle area - selling their Seattle homes for a decent price and buying in Sequim to retire for half the price.
Our own observation of the fast real estate market in Sequim these days was proven by "Sales Pending" signs showing up without there ever have been a "House for Sale" sign. Realtors have their own waiting list and jump in right away when something new shows up on the market. Sequim house hunters often noticed, when they had their act together to move forwards with an offer, the home was already sold or they were at the end of a line of home buyers' offers.
Bottom line at the current Sequim Real Estate market is, if you want a house, you'd better move fast.
One last word by loan officers. They seriously recommend to be preapproved by an underwriter: "When we get into those multiple offers on homes, cash is always going to be king. Team McAleer reports that on August 1st Sequim has 181 homes for sale at a median price of $375,000, 105 are under contract.
