Ocean Shores Real Estate ~ 2013 Year in Review

CaptureGreetings from the beach…

Another year has passed at the beach and the real estate market has made some great strides. 2013 is the first year since 2005 in Ocean Shores where home prices and home sales both increased. Our third quarter sales were huge with 70 homes selling over the summer. I don’t remember a quarter being that strong since 2006. Condo and home sales made small gains, but were both up as well. Overall, it was a very good year for the Ocean Shores Real Estate Market.

About OS

Ocean Shores Residential Sales
The Ocean Shores residential real estate market increased nearly 18% in 2013 compared to sales back in 2012. 199 homes sold. We haven’t seen this many residential sales since 2008 when we sold 201 homes. Home prices increased a little over 6.1% this past year as well as the average home sale was $147,568. The most expensive home to sell in 2013 was an ocean front that sold for $385,000 thank you very much.
Just over 18% of our home sales were foreclosures in 2013. That number was 26% last year, so it’s good that this number keeps falling. The other good news for now though is that only 17 out of the 195 homes on the market today are foreclosures or just 8.7%.  Hopefully that number is zero percent next year.
2013 Home Sales
The average home that sold last year in Ocean Shores was 1,475 square feet and took 242 days to sell compared to 1,422 square feet and 204 days in 2012. There are only 195 homes on the market right now ~ Average list price: $195,900 (it was $188,161 last year at this time) ~ Average of 303 Days on Market. One has been on the market for 3,072 days now (that’s over 8 years!) and thank God that it’s not my listing… There were 27 Homes pending on January 1st… ~ Average list price of those: $192,102 (it was only $154,113 last year).
OS Annual Home Sales
* 199 Homes sold in 2013 for an average sales price of $147,568 (cheapest was $25,000 – most expensive was $385,000).
* 169 Homes sold in 2012 for an average sales price of $138,995 (cheapest was $12,000 – most expensive was $580,000).
* 169 Homes sold in 2011 for an average sales price of $143,192 (cheapest was $32,905 – most expensive was $405,000).
* 179 Homes sold in 2010 for an average sales price of $170,724 (cheapest was $28,000 – most expensive was $520,000).
2013 Quarterly Home Sales
* 49 Homes Sold during 4th Quarter 2013 ~ Average Sales Price: $153,136 ~ Average of 217 Days on Market. Price Range: $25,000 – $347,000.
* 70 Homes Sold during 3rd Quarter 2013 ~ Average Sales Price $141,161 ~ Average of 224 Days on Market. Price Range: $27,500 – $300,000.
* 42 Homes Sold during 2nd Quarter 2013 ~ Average Sales Price $151,355 ~ Average of 236 Days on Market. Price Range: $27,000 – $327,000.
* 38 Homes Sold during 1st Quarter 2013 ~ Average Sales Price $148,002 ~ Average of 316 Days on Market. Price Range: $25,000 – $385,000.filename_02

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
2013 was another decent year for condo sales in Ocean Shores and like residential sales – they were up. 19 Condos sold last year up from 17 last year. Condo inventory and prices are way down. The most expensive condo on the market right now is $164,900. There are only a few Ocean View condos available. Most of the available condos on the market right now are “condotels.” Those places don’t allow for normal, full-time usage so sales are quite bleak for them. Hopefully, some condotels will sell soon.

2013 Condo Sales
The average condo that sold last year in Ocean Shores was 972 square feet and took 310 days to sell compared to 920 square feet and 401 days in 2012. Four out of the 19 condos sold were foreclosures. There are only 29 condos on the market (39 last year at this time) for an average list price of $92,755 (compared to $122,894 last year). There are zero condos pending currently – same as last year.

OS Annual Condo Sales 
* 19 Condos sold in 2013 for an average sales price of $123,197 (cheapest was $27,900 – most expensive was $287,000).
* 17 Condos sold in 2012 for an average sales price of $107,191 (cheapest was $25,000 – most expensive was $215,000).
* 17 Condos sold in 2011 for an average sales price of $141,906 (cheapest was $5,000 (time share) – most expensive was $224,900).
* 17 Condos sold in 2010 for an average sales price of $111,965 (cheapest was $25,000 – most expensive was $259,000).
2013 Quarterly Condo Sales
* 1 Condo Sold during 4th Quarter 2013 ~ Sales Price: $130,000 ~ 166 Days on Market.
* 8 Condos Sold during 3rd Quarter 2013 ~ Average Sales Price: $132,488 ~ Average of 352 Days on Market. Price Range: $32,000 – $287,000.
* 5 Condos Sold during 2nd Quarter 2013 ~ Average Sales Price: $125,590 ~ Average of 225 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.

JeffDaniel.EmailBanner

Ocean Shores Vacant Lot Sales
Vacant land sales increased a little bit this past year at the beach. In fact, there haven’t been this many lot sales in Ocean Shores since 2008 (189 sales). The constant challenge of getting buyers to assume the Street LID or getting sellers to pay it off is still a challenge in obtaining sales but it’s starting to get better. Like last year, a lot of sellers dropped their prices to unload these lots to really low prices which did motivate numerous buyers to take advantage of the cheap pricing. 78 (62 last year) of the 167 lots sold this year sold for $10,000 or less… There are only 64 (45 last year) lots listed for $10,000 or less currently… I fully expect the days of getting a lot in Ocean Shores for under $10,000 to end soon.
2013 Vacant Lot Sales
There are 441 (392 last year) lots on the market right now for an average list price of $44,946 ($44,675 last year). There are 16 (8 last year) lots currently pending for an average list price of $36,575. It took 313 days to sell a vacant lot in 2013 compared to 388 days in 2012. One lot took 2,572 days to sell…

OS Annual Lot Sales 
* 176 Lots sold in 2013 for an average sales price of $19,659 (cheapest was $800 – most expensive was $150,000).
* 167 Lots sold in 2012 for an average sales price of $21,237 (cheapest was $4,000 – most expensive was $95,000).
* 136 Lots sold in 2011 for an average sales price of $27,987 (cheapest was $4,999 – most expensive was $175,000).
* 159 Lots sold in 2010 for an average sales price of $27,953 (cheapest was $5,000 – most expensive was $179,500).
2013 Quarterly Vacant Lot Sales
* 41 Lots Sold during 4th Quarter 2013 ~ Average Sales Price: $15,495 ~ Average of 318 Days on Market. Price Range: $800 – $50,000.
* 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: $22,266 ~ Average of 312 Days on Market. Price Range: $5,500 – $63,500.

2013 Multifamily Sales
Only One Multifamily buildings sold in Ocean Shores in 2013 compared to five last year. Multifamily property sales are obviously very slow right now.

2013 Commercial Property Sales
Five Commercial buildings sold in 2013 which was the same as 2012. Three sold in 2011 and two in 2010. Average price was $359,900 compared to $136,360 in 2012.

Copy of The North Beach (2) (1)

Total Real Estate Sales for all of Grays Harbor
2013 – 1124 Transactions with a total volume of $116,657,672.
2012 – 1004 Transactions with a total volume of $101,896,506.
2011 – 1038 Transactions with a total volume of $112,102,309.
2010 – 987 Transactions with a total volume of $115,558,046.

Harbor Home Sales
770 Homes sold in Grays Harbor County in 2013. Average price: $126,023.
673 Homes sold in Grays Harbor County in 2012. Average price: $122,038.
695 Homes sold in Grays Harbor County in 2011. Average price: $134,342.
652 Homes sold in Grays Harbor County in 2010. Average price: $145,991.
Harbor Home Sales Summary
Ocean Shores – 199 (up 30) Homes sold for an average price of $147,568.
Aberdeen – 167 (up 6) Homes sold for an average price of $94,755.
Hoquiam – 93 (up 8) Homes sold for an average price of $79,790.
Elma – 78 (up 15) Homes sold for an average price of $165,965.
Montesano – 78 (up 15) Homes sold for an average price of $147,624.
Westport – 43 (up 8) Homes sold for an average price of $124,979.
McCleary – 29 (up 1) Homes sold for an average price of $102,793.
Cosmopolis – 17 (up 1) Homes sold for an average price of $110,058.
Grayland – 14 (up 5) Homes sold for an average price of $122,221.
Pacific Beach – 11 (down 1) Homes sold for an average price of $295,324.
Oakville – 10 (up 4) Homes sold for an average price of $152,641.
Copalis Beach – 7 (up 4) Homes sold for an average price of $103,857.
Ocean City – 7 Homes sold for an average price of $148,286.
Moclips – 2 (down 4) Homes sold for an average price of $110,000.

Harbor Condo Sales   
34 Condos sold in Grays Harbor County in 2013. Average price: $155,346.
31 Condos sold in Grays Harbor County in 2012. Average price: $129,226.
31 Condos sold in Grays Harbor County in 2011. Average price: $137,858.
41 Condos sold in Grays Harbor County in 2010. Average price: $124,232.
Ocean Shores vs Westport Condo Sales
Westport – 13 (15 in 2012) Condos sold in 2013: Average price: $215,923.
Ocean Shores – 19 (17 in 2012) Condos sold in 2013. Average price: $123,197.

Harbor Vacant Lot Sales
276 Vacant Lots sold in Grays Harbor County in 2013. Average price: $39,403.
258 Vacant Lots sold in Grays Harbor County in 2012. Average price: $37,583.
263 Vacant Lots sold in Grays Harbor County in 2011. Average price: $43,800.
240 Vacant Lots sold in Grays Harbor County in 2010. Average price: $43,099.
Harbor Vacant Lot Sales Summary
Ocean Shores – 176 (up 9) Lots sold
Aberdeen – 13 (down 9) Lots sold
Westport – 13 (up 2) Lots sold
Copalis Beach – 11 (up 6) Lots sold
Elma – 10 (up 1) Lots sold
Montesano – 10 (up 5) Lots sold
Grayland – 9 (up 3) Lots sold
Hoquiam – 7 (flat) Lots sold
Pacific Beach – 6 (down 1) Lots sold
Moclips – 5 (up 3) Lots sold
McCleary – 3 (down 4) Lots sold
Ocean City – 3 (up 2) Lots sold

When it's time to sell or buy

Washington Coastal Community Comparisons
Residential sales on Washington’s coast were up quite a bit in all areas except the North Beach (Seabrook/Moclips) area. The Long Beach/Ocean Park area in Pacific County saw the number of home sales in their market jump nearly 25%. Below is a comparison of the four major coastal areas in Washington State.

Ocean Shores / Ocean City
* 207 Homes sold in 2013 for an average sales price of $147,396. Total volume was $30,510,942 up from $23,705,239 in 2012.
* 171 Homes sold in 2012 for an average sales price of $138,627. Total volume was $23,705,239.
* 171 Homes sold in 2011 for an average sales price of $143,482. Total volume was $24,535,361.
* 181 Homes sold in 2010 for an average sales price of $169,776. Total volume was $30,726,526.

Long Beach / Ocean Park
* 208 Homes sold in 2013 for an average sales price of $137,076. Total volume was $28,511,861 up from $18,726,719 in 2012.
* 156 Homes sold in 2012 for an average sales price of $120,043. Total volume was $18,726,719.
* 133 Homes sold in 2011 for an average sales price of $149,703. Total volume was $19,910,500.
* 150 Homes sold in 2010 for an average sales price of $161,531. Total volume was $24,229,648.

Westport / Grayland
* 59 Homes sold in 2013 for an average sales price of $122,631. Total volume was $7,234,200 up from $5,605,763 in 2012.
* 44 Homes sold in 2012 for an average sales price of $127,404. Total volume was $5,605,763.
* 62 Homes sold in 2011 for an average sales price of $126,160. Total volume was $7,821,944.
* 42 Homes sold in 2010 for an average sales price of $133,945. Total volume was $5,625,700.

Seabrook / Copalis Beach / Moclips / Pacific Beach
* 20 Homes sold in 2013 for an average sales price of $209,778. Total volume was $4,195,565 up from $4,010,653 in 2012.
* 21 Homes sold in 2012 for an average sales price of $190,983. Total volume was $4,010,653.
* 34 Homes sold in 2011 for an average sales price of $269,781. Total volume was $9,172,538.
* 23 Homes sold in 2010 for an average sales price of $273,591. Total volume was $6,292,590.

What is my home worth

Thanks for another great year!
I really need to thank all of my patient sellers & buyers along with all the great real estate agents, lenders, escrow & title folks and anyone else that I worked with in 2013 to make it another great year for me in real estate! This year I finished again at the top of the list with nearly 14% of all the real estate sales in Ocean Shores. I was also tops in Grays Harbor County. This has been my second full year at John L. Scott and I still can’t tell you what a great office, company and atmosphere we have. Additionally, the johnlscott.com website and the John L. Scott app are great! John L. Scott is the top-producing brokerage in Ocean Shores with the most brokers, listings and sales. The office did over 36% of all the real estate business in town last year (up from 34% in 2012). Thank you!

 2013 Ocean Shores Real Estate Brokerage Rankings
John L. Scott – 36%
Windermere – 20%
Premier Realty – 10%
Laurie Christian – 7%
Coldwell Banker – 6%
Ocean Beach Properties – 2%

cityofoceanshores.com Update
www.cityofoceanshores.com has been completely overhauled, update and is pretty cool. Please check it out. Thank you!

Upcoming Things to Do in Ocean Shores

filename_01

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. All real estate data is taken from the NWMLS.com website.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s