City of Ocean Shores Real Estate Newsletter ~ 3rd Quarter 2013

Greetings from the beach…

 


Ocean Shores Residential Sales
Like I predicted back in July, residential home sales spiked from 2nd to 3rd quarter this year! Sixty-nine home closings took place – up from 40 in the second quarter. That’s a jump of almost 73% percent! This has been the most productive third quarter since 2008. Year to date (Jan 1 – Sept 30) comparisons show that residential sales are up over 22% this year and average sales prices are up over 12% so far. The market is definitely moving forward, but we are still nowhere near the high years of 2005 & 2006. Presently, our numbers are looking more like 2008.

 

10 of the 69 homes that sold this past quarter were foreclosures. Year to date, 17% of all home sales were foreclosures compared to nearly 31% last year for the same time period. As of 10/1/2013, only 13 homes or 5.4% of the residential inventory are listed as bank-owned or foreclosures.
Check out property listings from your smart phone here!  


3rd Quarter 2013 Home Sales

The average home that sold last quarter in Ocean Shores was 1,368 square feet and took 227 days to sell. There are 239 Homes on the market (261 last quarter) ~ Average list price: $208,992 ~ Average of 263 Days on Market. One has now been on the market for 2,979 (the same houses as forever ago & this seller has just finally reduced his price from $499,000 to $475,000…). There are currently 43 Homes pending (as of 10/1/2013) compared to 52 at the end of last quarter…
Quarterly Home Sales
* 69 Homes Sold during 3rd Quarter 2013 ~ Average Sales Price $142,809 ~ Average of 227 Days on Market. Price Range: $36,500 – $300,000.
* 40 Homes Sold during 2nd Quarter 2013 ~ Average Sales Price $151,000 ~ Average of 242 Days on Market. Price Range: $27,000 – $327,000.
* 37 Homes Sold during 1st Quarter 2013 ~ Average Sales Price $147,759 ~ Average of 307 Days on Market. Price Range: $25,000 – $385,000.
* 47 Homes Sold during 4th Quarter 2012 ~ Average Sales Price: $161,191 ~ Average of 179 Days on Market. Price Range: $17,500 – $580,000.
* 43 Homes Sold during 3rd Quarter 2012 ~ Average Sales Price $143,638 ~ Average of 193 Days on Market. Price Range: $28,050 – $400,000.|

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Want to know what’s going on in the Ocean Shores Real Estate market more than once a quarter? Be a Fan & “Like” us at http://www.facebook.com/pages/Ocean-Shores-Real-Estate/42604953991. Thanks! By the way, the contents of this newsletter were posted on the facebook page before you got this…

Ocean Shores Condo Sales
Condo sales doubled last quarter…
3rd Quarter 2013 Condo Sales
Eight Condos (up from four last quarter) sold during the third quarter of 2013. Average time on the market was 352 days. There are 32 condos on the market right now for an average list price of $103,553. Average time on market is 370 days. There are 2 condos pending right now – down from 7 at the end of last quarter.
Quarterly Condo Sales
* 8 Condos Sold during 3rd Quarter 2013 ~ Average Sales Price: $132,488, ~ Average of 352 Days on Market. Price Range: $32,000 – $287,000.
* 4 Condos Sold during 2nd Quarter 2013 ~ Average Sales Price: $123,238 ~ Average of 259 Days on Market. Price Range: $50,000 – $215,000.
* 5 Condos Sold during 1st Quarter 2013 ~ Average Sales Price: $104,580 ~ Average of 357 Days on Market. Price Range: $27,900 – $185,000.
* 9 Condos Sold during 4th Quarter 2012 ~ Average Sales Price: $120,471 ~ Average of 349 Days on Market. Price Range: $45,000 – $190,000.
* 3 Condos Sold during 3rd Quarter 2012 ~ Average Sales Price: $146,667 ~ Average of 269 Days on Market. Price Range: $50,000 – $215,000.

Ocean Shores Vacant Lot Sales
Lot sales were flat from 2nd to 3rd quarter which isn’t exactly bad news as 53 lots were sold compared to only 29 back in first quarter. Nearly 40% of them sold for $10,000 or less. Average prices are up a little bit, but that’s because one sale spiked the averages. There are 56 (40 last quarter) lots still on the market for $10,000 or less including one for $3,900…
3rd Quarter 2013 Vacant Lot Sales/Stats

There are 475 (up from 440 at the end of last quarter) lots on the market. Average list price is $46,664 and average time on the market is 292 days (one has been on the market now for 3,406 days and this seller has not reduced his price since June of 2008….).  There are 25 lots pending – up from 20 at the end of last quarter.

Quarterly Vacant Lot Sales

* 53 Lots Sold during 3rd Quarter 2013 ~ Average Sales Price: $22,517 ~ Average of 378 Days on Market. Price Range: $5,000 – $150,000.
* 53 Lots Sold during 2nd Quarter 2013 ~ Average Sales Price: $18,597 ~ Average of 247 Days on Market. Price Range: $5,000 – $85,000.
* 29 Lots Sold during 1st Quarter 2013 ~ Average Sales Price: $22,226 ~ Average of 312 Days on Market. Price Range: $5,500 – $63,500.
* 34 Lots Sold during 4th Quarter 2012 ~ Average Sales Price: $19,394 ~ Average of 437 Days on Market. Price Range: $4,000 – $75,000.
* 50 Lots Sold during 3rd Quarter 2012 ~ Average Sales Price: $22,087 ~ Average of 433 Days on Market. Price Range: $4,500 – $95,000.

Click on the little dude with a shovel in his hands for something to do every day in Ocean Shores & Grays Harbor!

Upcoming Things to Do in Ocean Shores

10th Annual Irish Music Festival
October 24-27
The Festival begins the evening of Thursday, October 24, 2013 and lasts until Sunday, October 27, 2013.  Headlining this year’s festival are the Young Dubliners while featuring Young Wolfe Tones, Molly’s Revenge and Tillers Folly.  In addition, an eclectic mix of twenty-five (25) Irish bands, choirs and dancers hailing from throughout the United States, Canada and, of course, Ireland rounding out this year’s entertainment. http://www.galwaybayirishpub.com/irishmusicfestival/

Winter Fanta-Sea Crafts Festival
November 29-December 1
A well-attended arts & crafts bazaar at the Convention Center featuring unique handmade items created by artists & creative crafts persons. An ideal event to find the perfect gift for the holiday season.

Life’s @ the Beach!

 

Jeff Daniel                  
Managing Broker

John L. Scott Ocean Shores

Cell Phone: 360.581.9020
711 Point Brown Ave NW

Ocean Shores, WA 98569

360.289.2454 (fax)

 

This message (including attachment if any) is confidential and may be privileged. If you have received this message by mistake please notify the sender by return e-mail and delete this message from your system. Any unauthorized use or dissemination of this message in whole or in part is strictly prohibited.

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