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
[DOM = Days on Market.  Source of data:  Olympic Listing Service]

Related Posts

Enjoy this post? Subscribe to my RSS feed.