Are Sequim homes for sale selling, and what does the Sequim real estate market look like right now? I’ve compiled some interesting market data from our MLS in this chart.  This data includes all Sequim homes listed and sold for this calendar year 2010 up to today, December 19th.  To enlarge the chart simply click on it.

Sequim Homes for Sale

Sequim Homes for Sale Days on Market (DOM)

Spend some time examining these numbers and you’ll come to some practical conclusions regarding Sequim homes for sale, but I’ll share a few observations here.  There are 1,717 active listings, including homes and land and businesses.  Of these there are 784 Sequim homes for sale.  440 are 3 bedroom, 232 are 1 or 2 bedroom, and there are 112 4 or more bedroom Sequim homes for sale.  Of the 3 bedroom homes, the average listed price is $310,279, and the average days on market is 191 days.

The 3 bedroom homes account for the largest percentage of homes sold at 392 while 1-2 bedrooms account for 244 homes sold and 4 bedroom or more make up the difference of 72.  The chart shows that the 3 bedroom homes are selling for 95.22% of the listed price, but an important clarification should be made here.  That is calculated based on the listing price at the time of the sale, not the original listing price or any of the subsequent price reductions.  The data is not readily available for the true original listing price to selling price ratio, but it is clearly less than 95.22%.

Sequim Homes for Sale Averages

Data like this is good for some purposes, but some of it could be misinterpreted or misused.  As they say, “Statistics don’t like, but statisticians do.”  A particular listing or home for sale must be separated from the averages to really do a thorough analysis of what happened with respect to that property, especially in comparison to other homes on the market.  Examining why a home hasn’t sold involves a knowledgeable analysis of that home, the history and marketing of that home, to whom it has been marketed and how, and the features, design, and location of that home.  Knowing how to differentiate “comps” is as much mathematical science as it is art, and too often homes are compared to other homes that are not true comps.

Sequim homes for sale are still selling but the old “location, location, location” principle still applies and quality and design are preeminent for most buyers today.

Last Updated on September 4, 2011 by Chuck Marunde