How many luxury homes have been selling in Sequim? Very few. Luxury homes have never been in high demand in the Sequim area, and there are not very many buyers in the upper price ranges. Since January 1, 2013, only seven homes have sold for $675,000 or more. That represents the last 13 and 1/2 months as of this writing. Since there were so few, I can tell you how much each one sold for with the listing price in parenthesis: $675,000 ($675,000), $685,000 ($925,000), $700,000 ($776,000), $750,000 ($849,125), $770,000 ($1,074,000), $788,000 ($790,000), and $970,000 ($1,200,000). I know these homes and sold two of them myself.
Luxury Homes and Buyers
I believe we will see more buyers in these upper price ranges this calendar year, at least compared to last year and the past six years of this recession, but Sequim is a small market, and not many buyers are buying homes approaching the one million dollar price tag. For sellers this is hard to take. Many people who retired in Sequim years ago bought a lot and had their dream home built for them. Land was not cheap, and building luxury homes was not cheap. For the majority of sellers, selling that home today means taking a loss. Fair market value today at the tail end of this recession is roughly 20% below the cost of replacement today. That means a $200,000 loss on a million dollar home.
Luxury Homes For Sale
Here’s a complete list of all the homes in Sequim and Port Angeles currently listed for $675,000 or more. There are 37 on the market today. I have shown almost every home on this list, so if you want to know more, email (chuckmarunde@gmail.com) or call (360) 775-5424. Go to Luxury Homes. If you need more information or photos of our luxury homes, I’d be glad to help.
Last Updated on September 21, 2019 by Chuck Marunde
