Home sales are better than they’ve been for 8 years according to the National Association of Realtors. The NAR reports that home sales increased 3.2% to an annual rate of 5.49 million homes, the highest level since February of 2007. This accounts for the brisk sales in the Sequim market this year. In an earlier article (Sequim Home Sales) I compiled this data showing how sales have increased in Sequim and Port Angeles.
Home Sales Way Up
This year home sales are up nationally 9.6% from a year ago. Where do buyers of Sequim homes come from? From all over the United States, so when home sales increase elsewhere, we see an increase here. And the chart above shows how dramatic that increase has been. It follows the national trend, but it’s even more impressive. Home sales for the first 6 months of each year in Sequim have been increasing accordingly, but notice on the chart that so far in 2015, sales are better than they have been since 2005. That’s impressive.
Home Sales and Buyers
We are shifting from a buyer’s market to a seller’s market. I’m not saying it is definitely a seller’s market, because it isn’t, but we are making the shift in the current market. The inventory of nice homes is limited, sellers are now getting full price on many homes, and retirees have continued to buy homes in Sequim every day of the week. Home sales are good.
Last Updated on September 22, 2019 by Chuck Marunde
Rita, thank you for your comment. The Port Angeles economy has struggled during this past recession, but the city has struggled since the timber and fishing industries declined in the 1980s. In my opinion, and in the opinion of many long time P.A. business owners, the city leadership has never identified and implemented a powerful vision for the future of P.A. As a result, the economy has been weak. I would disagree with your comment that Sequim is “another crowded, congested city.” Sequim has a population of 6,000, and growth is slow and steady. We have a Coscto and a Home Depot, and we are grateful for those big box stores. It would be a long drive without them to Silverdale. There is no traffic congestion, and lines at the stores are usually only 2 to 3 people. You can go walking on the Discovery Trail on some days and pass no one. Sequim retains its rural character while still having most essential services, but it’s still definitely a small rural town.
We read with interest your Feed Blitz articles. Sequim is obviously your primary market. We just wonder why the Port Angeles market has just dried up. We used to visit there from 2000 up until the down turn when building and sales stopped. It appears PA is NOT returning to it’s glory for building, buying, and even tourism. We would like to hear your comments on this. I can remember when we first visited Sequim in 2000, and it was just nothing. That is why the retirees went there. Now, it appears, with the big box stores, and all, it is just another crowded, congested city.