Hacked By GeNErAL
What is the price per square foot for a Mason County waterfront home right now?
The problem is that every beach is different. How can you generalize when some properties have higher banks and water temperature is colder. What are the boating options, the views and proximity to services?
To compare South Puget Sound beaches, I break the numbers up into real estate areas. Each area has its own price range based but can be just minutes apart.
To talk about real estate prices, you have to use actual sales. For each beach area, I have created four charts from actual sales data taken directly from the MLS to tell the story of each beach and its value in 2015. I can guarantee only one thing – no home that sold in 2015 was exactly like any other home. One home may have a dock or a granite counter-top but without question, there is a comp here for every home.
Chart #1 – "Scattergram Pricing Chart"
Each dot is an actual sale. The vertical axis is price and the horizontal is its square footage. Given all these points of sale, the blue line is a mathematical average of the "price per square foot" at any given size. This will give you some idea of the cost of an area home by footage.
Chart #2 – "Time to Sell"
This chart is “Days on Market” in 2015 – the time required to sell a beach house as a function of its price. You can combine the information from this chart with the "Buying Patterns" chart to get an idea when best to list a home.
Chart #3 – "Buying Pattern"
This chart documents "Buying Patterns" from the perspective of price to the date it sold. This is an attempt to determine what time of the year beach homes are sold. Remember, the "date sold" is when a sale closed and recorded, not when the sellers agreed to an offer. Subtract about 40 days to get when the seller agreed to their offer.
Chart #4 – “What are the Odds of Selling Your Home?”
What percentage of homes for sale in a particular area actually sold? For example, on Harron Island, there were seven waterfront homes available for sale in 2015. One sold which means the odds of selling a waterfront home on Harron Island in 2015 was 14%. The blue bars represent what sold, red is those homes that either the listing expired or was cancelled, green is homes still for sale and yellow is sales that are pending. This chart is not just about demand. It also speaks to supply, what homeowner and buyer expect and suggests how this may affect pricing.
Click below on the area you are interested in comparing:
- Allyn/Victor – Case Inlet (Allyn / Grapeview / Victor)
- Bremerton (Sinclair Inlet / Lower Dyes Inlet)
- Fox Island Gig Harbor Community
- Gig Harbor – (Narrows / South Colvos Passage)
- Hale passage (Kapachuck to the Narrows)
- Hammersley Inlet – (Hammersley Inlet and Oakland Bay – Shelton)
- Harron Island – Case Inlet Island
- Harstine Island – A Shelton Community
- Henderson Bay – Carr Inlet / Rosedale / Raft Island (Gig Harbor Communities)
- Hood Canal North – Hoodsport to Brinnon/Seabeck)
- Hood Canal South – Belfair to Union/Tahuya)
- Key Peninsula – Victor / Longbranch / Lakebay / Home / Glencove
- North Colvos Passage – Maplewood / Olalla / Southworth / Manchester
- Pickering Passage – Grapeview to Hammersley Inlet
- Port Orchard – Sinclair Inlet
- Treasure / Stretch Islands – Allyn Communities
- Silverdale – Upper Dyes Inlet
New Q2 Gardner Report is Now Available
There’s an old saying in Western Washington that you have to wait until the 5th of July for summer to start and that, after a prolonged period of tedium, light starts to shine. In reviewing the latest data on the economy and real estate markets, I believe the same can be said about them.
Summer has appeared in Western Washington and this has, so far, been reflected in our economy, as well as our housing market.
Businesses have been adding staff at a fair clip and, to a degree, this has influenced people’s decision making when it comes to buying a home. The two are, indeed, intertwined.
Even with this positive data, I am still suggesting that we be a little cautious regarding the housing market. Not because I believe that we are going to see any sort of rapid decline in values, rather that the long awaited improvement that is shown here may still have some hurdles ahead.
The wait for summer has been worth it—as has the very long wait for recovery/stability in our regional economy real estate markets. The glass is definitely half full right now, but it remains too early to call for a certified recovery in home prices. Enjoy the weather while it is here!
To read this new report on Washington's housing market and see Matthew's revealing charts, go to http://thesouthsounder.com/gardner/Q2_2012.pdf
Washington’s Olympic Peninsula is one of the quietest places on Earth.
You may have to go a little farther than you thought to find quite in today’s world. A tiny plot of land there on the Olympic Peninsula – a five hour drive from Seattle and two-hour hike is what one expert says is the single quietest place in the lower 48 states. See Video.
In the man-made realm, the world’s quietest room is in Orfield Laboratories in Minneapolis, Minn. Completely sound-proof, decibel levels in the room can reach an incredible negative nine – compare that to an airport’s background noise of 72 decibels or 59 in a car or 57 in a quiet office.
“CBS This Morning” special correspondent Jeff Glor spent some quiet time at the Olympic Peninsula and at the Orfield Laboratories soundproof room, listening to the sound of silence in its many forms. Watch his experience in this video on the Olympic Peninsula.
On the Olympic Peninsula, the Sol Duc Hot Springs in the Olympic National Park celebrates its 100th year of operation.
The resort about 40 miles west of Port Angeles, will commemorate the milestone with promotions and a special event planned at the hot springs May 5-6. The event will be hosted by Sol Duc Hot Springs Resort, the National Park Service and the Clallam County Historical Society and will include food, entertainment and a special look at the history of the hot springs.
“Sol Duc Hot Springs has been the Northwest’s premier natural hot spring destination for the past century,” said Amanda Lovelady, district manager for Aramark Parks and Destinations, Olympic Peninsula. “The resort is deeply tied to the history of this area, and we hope to share that story with locals and our visitors.”
The resort features three mineral hot spring soaking pools and one freshwater pool, with temperatures ranging from 85 to 105 degrees. An original Stanley Steamer Mountain Wagon on which early visitors rode the last part of their two-day journey from Seattle to visit the hot springs will be featured during the celebration.
For special 100th anniversary rates and more information, visit http://www.olympicnationalparks.com/plan/specials–packages/sol-duc-hot-springs.aspx