John Scott Realty
My son says this is bigger than Christmas...well for some of us maybe. I am glad to have the afternoon to snuggle up with my two Shit Zhu's for a little nap.
This is a photo of Port Townsend at 8 am this morning, and a sign I saw in one of the windows.
Ocean Shores Real Estate Update
It's no secret that 2009 was a horrible year for most if not all business's (except Walmart of course). Not unlike the rest of the country, real estate sales were again slow at the beach and down nearly 13% from the previous year. The First Time Home Buyer tax credit had very little effect out here as most of our buyers are either move-up, retirement or getaway buyers. However, the new $6,500 tax credit for owners of existing homes who buy a new principal residence does seem to be spurring activity. The biggest surprise out here on the beach is that more condominiums actually sold this year than last.
Ocean Shores is not unlike the rest of the country as a large volume of foreclosures, REO's and short sales have driven prices down. However, we are starting to see a significant reduction in the number of these distressed properties on the market today. Prices have bottomed in Ocean Shores much like the rest of the region. The biggest problem we face with sales still remains with the uncertainty of the banks as they continue to strangle buyers with steeper qualifications to get a loan.
That being said, the forecast is good. Nationally, the National Association of Realtor's chief economist sees a strong sales year ahead - up to 20 percent this year. He's also forecasting sustained price increases of anywhere from two to five percent on average. Regionally, the Puget Sound market is significantly up. The volume of pending sales was up more than 35% from a year ago and was the best December the region has seen since 2006. Historically, Ocean Shores tends to follow the Puget Sound's trends by six to nine months.
Here are some year end numbers regarding Ocean Shores real estate: 2009 Home Sales * 206 Homes sold in 2008 for an average sales price of $194,480 (Cheapest was $28,000 - Most expensive was $829,000). * 241 Homes sold in 2007 for an average sales price of $209,783 (Cheapest was $36,000 - Most expensive was $580,000). The average home that sold in Ocean Shores in 2009 had 1415 square feet and was on the market for 225 days. 2009 Condo Sales * 25 Condos sold in 2009 for an average sales price of $138,468 (Cheapest was $41,000 - Most expensive was $350,000). * 18 Condos sold in 2008 for an average sales price of $244,000 (Cheapest was $60,000 - Most expensive was $425,000). * 41 Condos sold in 2007 for an average sales price of $209,783 (Cheapest was $7,500 - Most expensive was $449,000). The average Condo that sold in Ocean Shores in 2009 had 992 square feet and was on the market for 320 days. 2009 Vacant Lot Sales * 134 Lots sold in 2009 for an average sales price of $34,968 (Cheapest was $8,500 - Most expensive was $155,000). * 189 Lots sold in 2008 for an average sales price of $47,799 (Cheapest was $10,000 - Most expensive was $185,000). * 322 Lots sold in 2007 for an average sales price of $54,655. (Cheapest was $16,000- Most expensive was $450,000). It took 320 days to sell a Lot in 2009 compared to 284 days in 2008. 2009 Commercial Sales * 7 Commercial Buildings sold in 2009 for an average sales price of $345,643 compared to 6 sales in 2008 for an average sales price of $281,250. 2009 Multifamily (Apartment) Sales * 4 Multifamily Buildings sold in 2009 for an average sales price of $167,000 compared to 0 sales in 2008. Coastal Community Sales Comparisons On another note, even though the Ocean Shores real estate market was off this past year, consider how bad the market is in a couple of other beach towns. All things said, the real estate market is still kicking in Ocean Shores. * Ocean Shores sold 180 Homes and 134 Lots in 2009. The average price of the Home was $173,421 & the average price of the Lot was $34,968. * Seabrook/Pacific Beach/Moclips areas sold 18 Homes and 6 Lots in 2009. The average price of the Home was $344,472 & the average price of the Lot was $92,833. * Westport sold 23 Homes and 11 Lots in 2009. The average price of the Home was $164,410 & the average price of the Lot was $53,136. * Long Beach sold 48 Homes and 14 Lots in 2009. The average price of the Home was $183,160 & the average price of the Lot was $107,714. Summary: Ocean Shores is still the most affordable coastal community in the country and that's a big reason why a lot of baby boomers are retiring in Ocean Shores and numerous people move here to work, play and buy their vacation getaways. Now is the best time to buy in Ocean Shores! On a personal note, I would very much like to thank everyone who helped me in becoming the #1 real estate agent in not only Ocean Shores, but all of Grays Harbor County as well for the second year in a row now. Ocean Shores Real Estate Brokerage 2009 Rankings #1 Coldwell Banker - Volume Sold: 29.83% #2 John L. Scott - Volume Sold: 21.70% #3 Windermere (out of business now) - Volume Sold: 13.83% #4 Prudential Grays Harbor - Volume Sold: 5.80% #5 Premier Realty - Volume Sold: 5.63% #6 Beach Realty - Volume Sold: 2.22% December Home Sales December Vacant Lot Sales 11 Lots sold in December. Average selling price was $17,127. The cheapest one was unloaded for only $10,000 and the most expensive was only $33,000. December Condo Sales
BrandNewBeachHomes.com is a real estate blog about new homes and new construction out at the beach. Take a look! If you have any questions regarding Ocean Shores/North Coast Real Estate, call Jeff Daniel of Coldwell Banker Ocean Beach Properties at 360.581.9020 or visit my website at www.cityofoceanshores.com. Thanks! All real estate numbers and stats apply to the Ocean Shores real estate market. All statistics are supplied from the Northwest Multiple Listing Service.
Upcoming Events Master Builder Home & Garden Show February 6-7, 2010 February 13-14, 2010 8th Annual Ocean Shores Antique & Collectible Show will take place at the Ocean Shores Convention Center. Join them along with over 60 vendors for Valentine's Weekend! Beachcombers Fun Fair March 5-7, 2010 23rd annual event features exhibits, seminars, information booths, and vendors on Saturday and Sunday; a kid's science fair Saturday morning plus beach walks on Sunday morning. Ocean Shores Moped Poker Run
The GWRRA Chapter E - 3rd Annual Moped Poker Run and Surf Watch will be held on March 26-28, 2010 in Ocean Shores, Washington (WA) Check-In will begin at the Polynesian Resort at 9:30am. Moped's out at 10am. Entry fee of $10/Pre-Registration, and $12/Day of for each person. There will be a Poker Run, Miniature Golf Competition, Live and Silent Auction, Cash Prizes, and more. http://www.motorcyclemonster.com/events/Moped-Poker-Run-2010-03-26-Ocean_Shores-WA.html March 26-28, 2010 Razor Clam Festival & Chowder Cook-Off March 27, 2010
* 180 Homes sold in 2009 for an average sales price of $173,421 (Cheapest was $31,500 - Most expensive was $495,000).
* Currently, there's 179 Homes on the market (compared to 228 Homes on the market this time last year) for an average price of $225,194 (compared to $259,367 this time last year). Additionally, there are 18 homes pending in Ocean Shores for an average list price of $158,790.
* Currently, there's 86 Condos on the market for an average price of $222,777. Additionally, there are 4 Condos pending in Ocean Shores for an average list price of $158,790. There are still some fantastic deals on Condos at the beach right now. Send me an email if you would like a list.
Coldwell Banker Ocean Beach Properties is the Top Producing Real Estate Office in Ocean Shores (again...)
For the third year in a row, Coldwell Banker Ocean Beach Properties finished out 2009 as the Number One (#1) Real Estate Sales Office in Ocean Shores. This year, not only were we the #1 office in town again, we were the #1 office in all of Grays Harbor County again! We sold more properties in the county this past year than any other office around. Congratulations and thanks to the customers, owners, agents, employees and friends of Coldwell Banker for making us the top real estate office in Ocean Shores and the entire County.
Only 11 Homes sold in December. Average selling price was $199,286. The cheapest one was $123,750 and the most expensive was a new bay front home coming in at $376,000.
3 Condos sold in December for an average sales price of $80,000 even. The new Short Sale pricing going on at the Dreamscape Condos down at the North Jetty has really drawn a lot of interest from buyers making crazy offers that the bank has been accepting. Get in while you can!
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