Ocean Shores Real Estate Report ~ 3rd Quarter 2016

 

Greetings from the beach…
Third Quarter real estate sales are still on the rise! Last quarter saw 99 homes sell which is the most homes ever sold during a 3rd quarter in Ocean Shores! Houses are selling faster than ever. Inventory is declining and prices are going up. If you’re looking to buy, you should probably hurry up.

Ocean Shores Residential Sales
Ninety-Nine Homes sold during 2nd quarter for an average price of $176,603 compared to 91 sales and an average price of $178,928 during the 2nd quarter. There are 165 homes on the market right now. There were 175 at the end of the 2nd quarter. Last year at this time, there were 173 homes on the market and two years ago there were 237 homes on the market at this time. Residential inventory is coming down which should spur an increase average sales prices for 4th quarter.

Let’s look back at 3rd quarter home sales in Ocean Shores over the past twelve years:

* 99 Homes sold ~ 3rd Quarter 2016 ~ Average Sales Price: $176,603.
* 91 Homes sold ~ 3rd Quarter 2015 ~ Average Sales Price: $166,771.
* 76 Homes sold ~ 3rd Quarter 2014 ~ Average Sales Price: $142,629.
* 70 Homes sold ~ 3rd Quarter 2013 ~ Average Sales Price: $141,161.
* 44 Homes sold ~ 3rd Quarter 2012 ~ Average Sales Price: $143,782.
* 46 Homes sold ~ 3rd Quarter 2011 ~ Average Sales Price: $153,207.
* 42 Homes sold ~ 3rd Quarter 2010 ~ Average Sales Price: $182.479.
* 49 Homes sold ~ 3rd Quarter 2009 ~ Average Sales Price: $171,849.
* 67 Homes sold ~ 3rd Quarter 2008 ~ Average Sales Price: $192.879.
* 70 Homes sold ~ 3rd Quarter 2007 ~ Average Sales Price: $219,124.
* 81 Homes sold ~ 3rd Quarter 2006 ~ Average Sales Price: $209,600.
* 95 Homes sold ~ 3rd Quarter 2005 ~ Average Sales Price: $193,147.

2016 Third Quarter Home Sales
The average home that sold last quarter in Ocean Shores was 1,298 square feet and took 104 days to sell compared 99 days last quarter. Six of the 99 homes that sold were bank-owned – down from 12 bank-owned home sales in 2nd quarter. Average sales price of a bank-owned home was just over $70,000. There are only 165 Homes on the market right now and 10 of those are bank-owned. Average list price of a home for sale in Ocean Shores right now is $240,464 ~ Average of 133 Days on Market. One has been on the market for 2,716 days now (not my listing). There were 56 Homes pending on October 1st for an average list price of $216,761 compared to 65 Homes that were pending on July 1st for an average list price of $196,150. On the year-to-date front, 243 homes had sold last year during the first three quarters for an average price of $164,910. This year during the same time period, 246 homes have sold for an average price of $177,285.

Quarterly Home Sales

* 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.
* 67 Homes Sold during 4th Quarter 2015 ~ Average Sales Price: $203,003 ~ Average of 148 Days on Market. Price Range: $24,400 – $620,000.
* 91 Homes Sold during 3rd Quarter 2015 ~ Average Sales Price: $166,771 ~ Average of 139 Days on Market. Price Range: $40,000 – $369,000.

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Ocean Shores Condo Sales
Condo sales are still doing well as 14 condos sold during 3rd quarter compared to 19 last quarter. There are still a lot of condotels on the market.

2016 Third Quarter Condo Sales
Fourteen condos sold during third quarter compared to 19 during 2nd quarter. Average sales price was $127,446 and they took 145 days to sell on average. There are 50 condos on the market (44 last quarter) for an average list price of $144,962 ($138,900 last quarter). There are 7 condos currently pending compared to 11 at the end of last quarter. Average list priceof those – $118,671.

Quarterly Condo Sales

* 14 Condos Sold during 2nd 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.
* 14 Condos Sold during 4th Quarter 2015 ~ Average Sales Price: $140,650 ~ 105 Days on Market. Price Range: $27,000 – $269,000.
* 12 Condos Sold during 3rd Quarter 2015 ~ Average Sales Price: $137,109 ~ 130 Days on Market. Price Range: $44,500 – $200,000.

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

2016 Third Quarter Vacant Lot Sales
Eighty-seven lots sold during 3rd quarter. Fifteen of those sold for $10,000 or less – same as last quarter. There are 575 (582 last quarter) lots on the market right now for an average list price of $31,070. Forty-five of those lots are listed for $10,000 or less compared to 42 lots at the end of last quarter. There are 22 (39 at the end of last quarter) lots currently pending for an average list price of $25,766. It took 228 days to sell a vacant lot compared to 272 days last quarter. One lot took 2,747 days to sell…

Quarterly Vacant Lot Sales

* 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.
* 53 Lots Sold during 4th Quarter 2015 ~ Average Sales Price: $24,020 ~ Average of 391 Days on Market. Price Range: $5,000 – $80,000.
* 76 Lots Sold during 3rd Quarter 2015 ~ Average Sales Price: $26,164 ~ Average of 259 Days on Market. Price Range: $5,000 – $200,000.

cityofoceanshores.com Update
www.cityofoceanshores.com is updated and a sweet website to assist you in buying, selling and enjoying Ocean Shores. Check it out. Thank you!

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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