Ocean Shores Real Estate Report ~ 3rd Quarter 2017

Greetings from the beach…
This has been the best (most home sales and highest average home prices) quarter for residential home sales in the history of real estate sales in Ocean Shores. Third quarter real estate sales are still up! Home sales increased from 113 sales during 2nd quarter to 114 during third quarter. Average home prices are at their highest quarterly level in the history of Ocean Shores homes sales. Home sales peaked at $205,838 during 1st quarter 2006. The average home that sold last quarter was $217,825 compared to $201,838 during the second quarter of this year. Houses are selling at the beach and prices are at an all time high! Home inventory has increased slightly as a lot of our home sellers are taking advantage of higher prices and sales at this time. If you’re looking to buy, now is the time.

Ocean Shores Residential Sales
114 homes sold during 3rd quarter 2017 for an average price of $217,825 compared to 113 sales and an average price of $201,838 last quarter.
2017 Third Quarter Home Sales
The average home that sold last quarter in Ocean Shores was 1,458 square feet and took 73 days to sell. Only five of the 114 homes that sold were bank-owned. There are only 142 Homes on the market compared to 139 at the end of last quarter. Only three of those are bank-owned. Average list price of a home for sale in Ocean Shores right now is $245,002 compared to $259,418 last quarter ~ Average of 116 Days on Market. One has been on the market for 3.082 days now (not a John L. Scott listing). There were 76 Homes pending on October 1st compared to 60 homes pending at the end of 2nd quarter showing signs that 4th quarter is going to be just as solid as the previous two quarters if not a little bettetr. The average list price of pending home right now is $261,617 compared to an average list price of $218,005 at the end of last quarter. 2017 will end as the best year for residential sales and the highest average home prices in the history of Ocean Shores.
Quarterly Home Sales
* 114 Homes Sold during 3rd Quarter 2017 ~ Average Sales Price: $217,825 ~ Average of 73 Days on Market. Price Range: $31,000 – $518,000.
* 113 Homes Sold during 2nd Quarter 2017 ~ Average Sales Price: $201,838 ~ Average of 91 Days on Market. Price Range: $24,999 – $435,000.
* 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.

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Ocean Shores Condo Sales
Condo sales are solid. Average sales prices are still going up…
2017 Third Quarter Condo Sales
The average condo that sold last quarter in Ocean Shores was 836 square feet and took 94 days to sell. None of those condos were bank-owned. There are only 42 Condos on the market right now compared to 44 last quarter. 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 $162,557 ~ Average of 212 Days on Market. One has been on the market for 1,250 days now (not my listing). There were 8 Condos pending on October 1st for an average list price of $136,338.
Quarterly Condo Sales
* 15 Condos Sold during 3rd Quarter 2017 ~ Average Sales Price: $135,847 ~ 94 Days on Market. Price Range: $17,500 – $252,000.
* 16 Condos Sold during 2nd Quarter 2017 ~ Average Sales Price: $128,890 ~ 134 Days on Market. Price Range: $46,000 – $245,000.
* 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.

Ocean Shores Vacant Lot Sales
Lot sales are way up! Inventory is declining and cheap lots are going away.
2017 Third Quarter Vacant Lot Sales
112 lots sold during 3rd quarter. Twenty two of those sold for $10,000 or less. There are 435 (472 last quarter) lots on the market right now for an average list price of $31,738. Fifteen of those lots are listed for $10,000 or less compared to 25 lots at the end of last quarter. There are 24 lots currently pending for an average list price of $33,125 compared to 35 lots pending at the end of last quarter. It took 201 days to sell a vacant lot last quarter. One lot took 3,663 days to sell…
Quarterly Vacant Lot Sales
* 112 Lots Sold during 3rd Quarter 2017 ~ Average Sales Price: $23,125 ~ Average of 201 Days on Market. Price Range: $4,450 – $110,000.
* 104 Lots Sold during 2nd Quarter 2017 ~ Average Sales Price: $32,450 ~ Average of 237 Days on Market. Price Range: $3,300 – $700,000.
* 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.

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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