Ocean Shores Real Estate Report ~ 2nd Quarter 2017

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Greetings from the beach…
This has been the best (most sales) quarter for residential home sales in the history of real estate sales in Ocean Shores. Second quarter real estate sales are way up! Home sales increased 88% from 1st quarter to 2nd quarter. Average home prices are up over 7% for the same time frame. Houses are selling faster than ever. Home inventory is down over 20% from the same quarter last year and prices are still going up. Lot sales are way up too. If you’re looking to buy, it’s time to get off that fence.


Ocean Shores Residential Sales
113 homes sold during 2nd quarter 2017 for an average price of $201,838 compared to 91 sales and an average price of $178,928 during the same quarter last year.

2017 Second Quarter Home Sales
The average home that sold last quarter in Ocean Shores was 1,457 square feet and took 91 days to sell. Only five of the 113 homes that sold were bank-owned. Average sales price of a bank-owned home was just over $120,710 compared to $201,838 on average. There are only 139 Homes on the market compared to 174 last year now. Only two of those are bank-owned. Average list price of a home for sale in Ocean Shores right now is $259,418 compared to $240,776 last quarter or an increase of just over 7% ~ Average of 110 Days on Market. One has been on the market for 2,899 days now (not a John L. Scott listing). There were 60 Homes pending on July 1st for an average list price of $218,005 compared to an average list price of $210,684 at the end of last quarter. Third quarter home sales should be just as excellent as this past quarter if not better.

Quarterly Home Sales
* 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.
* 91 Homes Sold during 2nd Quarter 2016 ~ Average Sales Price: $178,928 ~ Average of 99 Days on Market. Price Range: $22,000 – $360,000.

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Ocean Shores Condo Sales
Condo sales are solid. Average sales prices are going up…

 

 

2017 Second Quarter Condo Sales
The average condo that sold last quarter in Ocean Shores was 848 square feet and took 134 days to sell. None of those condos were bank-owned. There are only 44 Condos on the market right now compared to 43 last year now. Eighteen 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 $151,694 ~ Average of 192 Days on Market. One has been on the market for 1,161 days now (not my listing). There were 8 Condos pending on July 1st for an average list price of $203,719. Average Condo prices are going to jump big time next quarter.

Quarterly Condo Sales
* 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.

* 19 Condos Sold during 2nd Quarter 2016 ~ Average Sales Price: $124,279 ~ 74 Days on Market. Price Range: $38,000 – $218,000.

Ocean Shores Vacant Lot Sales
Lot sales are way up! Prices are up as well. Inventory is still high.

2017 Second Quarter Vacant Lot Sales
104 lots sold during 2nd quarter. Twenty-two of those sold for $10,000 or less. There are 472 (463 last quarter) lots on the market right now for an average list price of $30,166. Twenty-five of those lots are listed for $10,000 or less compared to 29 lots at the end of last quarter. There are 35 lots currently pending for an average list price of $21,266 compared to 25 lots pending at the end of last quarter. It took 237 days to sell a vacant lot last quarter. One lot took 3,813 days to sell…

Quarterly Vacant Lot Sales
* 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.
* 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.

 

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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