Ocean Shores Real Estate ~ Second Quarter 2014 Review

Ocean Shores Real Estate ~ Second Quarter 2014 Review

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Greetings from the beach…
Sales are still up at the beach. Residential home sales increased this past quarter as did vacant lot sales. Condo sales are down though and really slow. While the real estate market is slowly and steadily improving, we’ve still got a long way to go before I’ll call it good.

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Ocean Shores Residential Sales
Ocean Shores residential real estate sales are still increasing even though inventory is on the rise. 63 homes sold last quarter compared to 52 in the first quarter. This has been the strongest quarter of residential sales that we’ve seen at the beach in a long time. Home prices dipped a bit from the previous quarter but that was due to quite a few low end sales dipping the average prices down. The average home sale was $145,274 compared to $156,384 in the first quarter. The most expensive home to sell so far this year was $368,950 which was a very nice, newer bay front home. 13 out of the 63 home sales were foreclosures this past quarter.
2014 Home Sales (2nd Quarter)
The average home that sold during 2nd quarter in Ocean Shores was 1,413 square feet and took 285 days to sell compared to 1,498 square feet and 241 days during the 1st quarter. There are only 255 homes on the market right now compared to 217 at the end of last quarter and 261 last year at this time. 13 of those are listed as “bank-owned.” Average list price: $206,365 ~ Average of 240 days on market. One has been for sale for 3,246 days now (coming up on ten years now for this same house that’s in this report every quarter…) – not my listing… There were 32 Homes pending on July 1st compared to 35 Homes pending on April 1st, 2014.

2014 Quarterly Home Sales
* 63 Homes Sold during 2nd Quarter 2014 ~ Average Sales Price $145,274 ~ Average of 285 Days on Market. Price Range: $30,000 – $368,950.
* 52 Homes Sold during 1st Quarter 2014 ~ Average Sales Price $156,384 ~ Average of 241 Days on Market. Price Range: $23,000 – $385,000.
* 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.  Image

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Ocean Shores Condo Sales
Four Condos sold during 1st quarter compared to five in the same quarter during 2013. 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.

2014 Condo Sales (2nd Quarter)
The average condo that sold last quarter in Ocean Shores was 434 square feet and took 154 days to sell. These were two tiny non-view, non-waterfront condos – both in downtown. There are 34 condos on the market (27 last quarter) for an average list price of $99,185. Two condos are currently pending – one is listed at $35,000 and the other is an ocean front at $279,000.

2014 Quarterly Condo Sales
* 2 Condos Sold during 2nd Quarter 2014 ~ Average Sales Price: $35,000 ~ Average of 154 Days on Market. Price Range: $20,000 & $50,000.
* 4 Condos Sold during 1st Quarter 2014 ~ Average Sales Price: $98,625 ~ Average of 161 Days on Market. Price Range: $28,000 – $180,000.
* 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.

Ocean Shores Vacant Lot Sales
Vacant land sales increased a bit this past quarter compared to the first. The number of sales increased from 35 to 42 this quarter while the average price also increased from $22,732 to $25,127. Sixteen of the 42 lots sold were sold for $10,000 or less. There are 90 (61 last quarter) lots listed for $10,000 or less currently…
2014 Vacant Lot Sales (2nd Quarter)
There are 506 (440 last quarter) lots on the market right now for an average list price of $45,409. There are 15 (14 last quarter) lots currently pending. It took 227 days to sell a vacant lot compared to 367 last quarter.

2014 Quarterly Vacant Lot Sales
* 42 Lots Sold during 2nd Quarter 2014 ~ Average Sales Price: $25,127 ~ Average of 227 Days on Market. Price Range: $3,000 – $265,000 (triple lot on the water).
* 35 Lots Sold during 1st Quarter 2014 ~ Average Sales Price: $22,732 ~ Average of 367 Days on Market. Price Range: $3.000 – $140,000.
* 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.Image

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

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Upcoming Things to Do in Ocean Shores

Click the picture for something to do every day in Ocean Shores & Grays Harbor

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)
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