2017 was the greatest year for real estate sales in the history of Ocean Shores. We had the highest average home sale prices and the most home sales ever. This year is looking even better as we sold 20 more homes this 1st quarter 2018 compared to 1st quarter 2017. That said, I don’t believe 2018 is going to have as many sales as last year and that’s mostly because we’re lacking existing home inventory and builders can’t keep up with demand. That said, prices are definitely going to continue to rise. Also, vacant lot sales for 1st quarter 2018 are up over 90%!
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Ocean Shores Residential Sales
Ocean Shores residential home sales increased from 62 sales in 1st quarter 2017 to 82 sales in the same quarter for 2018. That’s a increase of over 32%! Last year the average home sold in Ocean Shores went for $210,097. Home sales for this first quarter are now up to $218,138 or a gain of 3.8%. This is the highest average price for a single quarter ever. The average price of a home sold during the same quarter last year was only $188,037. That’s a one year increase of just over 16%! This trend of higher prices for homes at the beach is not going to slow down anytime soon. At the end of this past 1st quarter there were 79 homes pending for an average list price of $263,500.
2018 First Quarter Home Sales
82 homes sold during 1st quarter for an average price of $218,138. Four of those homes were bank-owned. The average home that sold last quarter in Ocean Shores was 1,391 square feet and took 124 days to sell compared to 1,484 square feet and 133 days last year. 26 of those homes sold in 30 days or less. One house took 3,200 days to sell… There are only 107 homes on the market right now compared to 121 last year at this time which is an inventory decrease of just over 11%. Twenty of those 107 homes are either under construction or are pre-sales. ~ Average list price of an active home right now: $269,552 (it was $243,346 last year at this time) ~ Active homes have been on the market an average of 67 days compared to 144 days last year. There were 79 Homes pending on April 1st, 2018 compared to 55 last year at this time… ~ Average list price of those: $263,500 compared to $210,684 in same quarter 2017.
2018 Quarterly Home Sales
* 82 Homes Sold during 1st Quarter 2018 ~ Average Sales Price: $218,138 ~ Average of 124 Days on Market. Price Range: $37,000 – $430,000.
* 111 Homes Sold during 4th Quarter 2017 ~ Average Sales Price: $223,493 ~ Average of 91 Days on Market. Price Range: $54,950 – $485,000.
* 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.
Ocean Shores Condo Sales
2017 was another great year for condo sales in Ocean Shores. 2018 may actually end up as a better year and the year that condotels finally start selling as inventory dries up. First quarter condo sales and sales prices are both up compared to the same quarter in 2017 while inventory is flat. 2018 First Quarter Condo Sales
The average condo that sold last quarter in Ocean Shores was 880 square feet and took 134 days to sell compared to 982 square feet and 97 days in 2017. None of the condos sold last quarter were foreclosures. There are only 29 condos on the market (same as last year) for an average list price of $158,350 (compared to $147,647 last year). Nine condos are currently pending for an average list price of $87,810 as of April 1st, 2018. Four of those are condotels which have not had much success in recent years.
2018 Quarterly Condo Sales
* 14 Condos Sold during 1st Quarter 2018 ~ Average Sales Price: $131,807 ~ 134 Days on Market. Price Range: $38,000 – $250,000.
* 12 Condos Sold during 4th Quarter 2017 ~ Average Sales Price: $151,750 ~ 42 Days on Market. Price Range: $22,500 – $252,000.
* 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.
* 11 Condos Sold during 1st Quarter 2017 ~ Average Sales Price: $129,450 ~ 120 Days on Market. Price Range: $45,000 – $230,000.
Ocean Shores Vacant Lot Sales
2017 was an excellent year for lot sales in Ocean Shores. 2018 is off to an incredible start as we’ve sold nearly twice as many lots this past quarter as we did during the same quarter of 2017. That’s an increase of over 90% in lot sales! Average prices are down, but that’s because buyers have been scrambling buying up the cheaper lots in town. Ten of the 120 lots sold last quarter sold for $10,000 or less… There are only 4 lots available in Ocean Shores today for $10,000 or less compared to 29 last year at this time. Vacant lot prices are going up in 2018. 2018 First Quarter Vacant Lot Sales
There are 344 (392 last year) lots on the market right now for an average list price of $36,208 ($32,519 last year). Inventory is down over 12% from last year at this time. Only 112 of those are city-owned foreclosure lots. There are 34 (25 last year at this time) lots currently pending for an average list price of $35,500 compared to an average pending list price of $22,313 at the end of last quarter. It took 407 days to sell a vacant lot this past quarter. One lot took 2,265 days to sell…
2018 Quarterly Vacant Lot Sales
* 120 Lots Sold during 1st Quarter 2018 ~ Average Sales Price: $22,165 ~ Average of 407 Days on Market. Price Range: $7,500 – $175,000.
* 68 Lots Sold during 4th Quarter 2017 ~ Average Sales Price: $28,661 ~ Average of 242 Days on Market. Price Range: $7,000 – $125,000.
* 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.
* 63 Lots Sold during 1st Quarter 2017 ~ Average Sales Price: $26,917 ~ Average of 266 Days on Market. Price Range: $5,000 – $216,000.
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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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