Ocean Shores Real Estate Report ~ 1st Quarter 2017

Greetings from the beach…
First quarter real estate sales are still on the rise! Home sales are up 9% this past quarter compared to the same quarter in 2016. Home prices are up over 5% for the same time frame. Houses are selling faster than ever. Home inventory is down nearly 20% and prices are still going up. Condo inventory is down over 38% and prices are going up for condos too! If you’re looking to buy, you should probably hurry up and call me.

Ocean Shores Residential Sales
Sixty homes sold during 1st quarter 2017 for an average price of $188,037 compared to 55 sales and an average price of $177,778 during the same quarter last year.

This past quarter has been very good. Let’s look back at 1st quarter home sales in Ocean Shores over the past few years:

* 60 Homes sold ~ 1st Quarter 2016 ~ Average Sales Price: $188,037.
* 55 Homes sold ~ 1st Quarter 2016 ~ Average Sales Price: $177,778.
* 51 Homes sold ~ 1st Quarter 2015 ~ Average Sales Price: $143,694.
* 52 Homes sold ~ 1st Quarter 2014 ~ Average Sales Price: $156,384.
* 37 Homes sold ~ 1st Quarter 2013 ~ Average Sales Price: $147,759.
* 28 Homes sold ~ 1st Quarter 2012 ~ Average Sales Price: $105,318.

2017 First Quarter Home Sales
The average home that sold last quarter in Ocean Shores was 1,509 square feet and took 116 days to sell. Seven of the 60 homes that sold were bank-owned. Average sales price of a bank-owned home was just over $105,000 compared to $188,037 on average. There are only 121 Homes on the market compared to 151 last year at this time. Six of those are bank-owned. Average list price of a home for sale in Ocean Shores right now is $240,776 ~ Average of 126 Days on Market. One has been on the market for 2,899 days now (not my listing). There were 55 Homes pending on April 1st for an average list price of $210,684. Second quarter home sales are going to be huge!

Quarterly Home Sales
* 60 Homes Sold during 1st Quarter 2017 ~ Average Sales Price: $188,037~ Average of 116 Days on Market. Price Range: $19,500 – $497,600.
* 75 Homes Sold during 4th Quarter 2016 ~ Average Sales Price: $204,966 ~ Average of 115 Days on Market. Price Range: $20,000 – $425,000.
* 99 Homes Sold during 3rd Quarter 2016 ~ Average Sales Price: $176,603 ~ Average of 104 Days on Market. Price Range: $34,000 – $450,000.
* 91 Homes Sold during 2nd Quarter 2016 ~ Average Sales Price: $178,928 ~ Average of 99 Days on Market. Price Range: $22,000 – $360,000.
* 55 Homes Sold during 1st Quarter 2016 ~ Average Sales Price: $177,778 ~ Average of 168 Days on Market. Price Range: $29,000 – $435,000.

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 are steady. Inventory is down 38% from last year at this time.

2017 First Quarter Condo Sales
The average condo that sold last quarter in Ocean Shores was 970 square feet and took 120 days to sell. None of those condos were bank-owned. There are only 35 Condos on the market right now compared to 57 last year at this time. Sixteen of those are condotels. No condos on the market today are bank-owned. Average list price of a Condo for sale in Ocean Shores right now is $140,761 ~ Average of 281 Days on Market. One has been on the market for 2,087 days now (not my listing). There were 8 Condos pending on April 1st for an average list price of $145,469.

Quarterly Condo Sales
* 10 Condos Sold during 1st Quarter 2017 ~ Average Sales Price: $129,450 ~ 120 Days on Market. Price Range: $45,000 – $230,000.

* 8 Condos Sold during 4th Quarter 2016 ~ Average Sales Price: $130,988 ~ 78 Days on Market. Price Range: $25,000 – $252,000.
* 14 Condos Sold during 3rd Quarter 2016 ~ Average Sales Price: $127,446 ~ 145 Days on Market. Price Range: $45,000 – $240,000.
* 19 Condos Sold during 2nd Quarter 2016 ~ Average Sales Price: $124,279 ~ 74 Days on Market. Price Range: $38,000 – $218,000.
* 11 Condos Sold during 1st Quarter 2016 ~ Average Sales Price: $130,443 ~ 79 Days on Market. Price Range: $38,000 – $186,500.

Ocean Shores Vacant Lot Sales
Lot sales are up. Prices are up as well. Inventory is down.

2017 First Quarter Vacant Lot Sales
Sixty-one lots sold during 1st quarter. Thirteen of those sold for $10,000 or less. There are 463 (501 last quarter) lots on the market right now for an average list price of $26,315. Twenty-nine of those lots are listed for $10,000 or less compared to 34 lots at the end of last quarter. There are 25 lots currently pending for an average list price of $22,218. It took 266 days to sell a vacant lot last quarter. One lot took 4,026 days to sell…

Quarterly Vacant Lot Sales
* 61 Lots Sold during 1st Quarter 2017 ~ Average Sales Price: $26,917 ~ Average of 266 Days on Market. Price Range: $5,000 – $216,000.
* 58 Lots Sold during 4th Quarter 2016 ~ Average Sales Price: $20,010 ~ Average of 229 Days on Market. Price Range: $4,700 – $71,500.
* 87 Lots Sold during 3rd Quarter 2016 ~ Average Sales Price: $26,520 ~ Average of 228 Days on Market. Price Range: $6,000 – $97,000.
* 76 Lots Sold during 2nd Quarter 2016 ~ Average Sales Price: $19,520 ~ Average of 272 Days on Market. Price Range: $6,000 – $85,000.
* 55 Lots Sold during 1st Quarter 2016 ~ Average Sales Price: $22,353 ~ Average of 261 Days on Market. Price Range: $5,000 – $125,000.

cityofoceanshores.com Update
My website, cityofoceanshores.com is being redesigned by a new company and it should be online soon!

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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