What is the price per square foot for a Mason County waterfront home right now?
This chart is created for you every month from sales in the MLS. You can always refer to this chart to see how things are going right now in the southwest Puget Sound.
This chart illustrates what I have said for years – there is no one answer to the value of Mason County waterfront. Sometimes, it depend upon the time of year. Sometimes, if a home is sold in February verses July, there can be as much as $70 per foot difference. That’s a $140,000 difference in the sales price of a 2000 square foot home.
It’s given that every beach is different – some properties have higher banks and colder water temperature. What are the boating options, the views and proximity to services? To compare South Puget Sound beaches, you should at very least break the numbers up into real estate areas – each area with its own price range.
HISTORIC VALUES – LET’S LOOK AT ANNUAL CHARTS
Are you new to waterfront property? Some beaches are more expensive than others for a variety of reason. They are all on the same Puget Sound but historically command their own values. Every year, I produce these charts to help define where you can find the best bargains.
For each beach, I create four (4) charts from actual sales data taken directly from the MLS. No homes are exactly alike – 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” – 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.
WHAT BEACH INTERESTS YOU –
- 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
The Washington State Department of Fish and Wildlife announced today sports fishing for spot shrimp will opens May 5 in Hood Canal and other parts of Puget Sound.
Shrimping should be similar to last year, although according to Mark O’Toole, a shellfish biologist, there is one change this season made to avoid an extreme minus tide. “With such an extreme low tide on May 9, it only made sense to shift the second day of fishing to Friday,” O’Toole said in a news release. “We don’t want to leave shrimpers stranded 100 feet from the boat ramp on a low afternoon tide.”
O’Toole expects a strong turnout by shrimp fishers, especially on the Hood Canal opening day. “Because this is such a popular fishery, boat ramps can get pretty crowded,” he said. “As always, we ask that people be patient at the ramps and wait their turn.”
A valid 2012-13 fishing license is required to participate in the Hood Canal fishery as well as all areas of Puget Sound and fishers are limited to 80 spot shrimp per day.
Spot shrimp seasons for Puget Sound are:
Hood Canal Shrimp District (Marine Area 12): Open from 9 a.m.-1 p.m. May 5, 11, 12 and 16.
Discovery Bay Shrimp District (Marine Area 6): Open from 7 a.m.-3 p.m. May 5, 11, 12 and 16.
Marine areas 4 (east of the Bonilla-Tatoosh line), 5, 6 and 13 (excluding shrimp districts): Open daily beginning May 5 at 7 a.m. The spot shrimp season closes when the quota is attained or Sept. 15, whichever comes first. The exception is Marine Area 13, which closes for spot shrimp May 31.
Marine Area 7: Opens May 5 at 7 a.m. and will be open May 11, 12, 17, 18 and 19.
Marine areas 8, 9, 10 and 11: Open May 5 and May 11 from 7 a.m.-3 p.m.
Additional dates and times will be announced for these areas if sufficient quota remains.
Unlike previous years, the shrimp fishery will not reopen on the Wednesday after the May 5 opener. Instead, the fishery will reopen in most areas on May 11.
For a description of the marine areas and fishing rules, including regulations, go to WDFW’s Recreational Shrimp Fishing website.
Congratulations to the Belfair “Taste of the Hood Canal” who is now a Seattle Seafair Community Event.
The North Mason Rotary who sponsors this Hood Canal summer celebration to support the community was notified today this free annual event held on August 11 is now part of Seafair.
For those outside the Puget Sound, Seafair is Seattle’s traditional summer festival. A month-long, region-wide barbecue, that brings an entire community together in celebration. For over 60 years Seafair has been about community events, parades, Miss Seafair, the Navy and Coast Guard, amateur athletics, airplanes and of course, hydroplane boat racing.
The Hood Canal “Taste” features a larger and expanded custom and classic car show as well as beer and wine tasting by Riverhill Winery. On Saturday, August 11, come and experience specialties from local restaurants, family entertainment & live music throughout the day, food including seafood and a variety of wonderful treats, informational displays, art and craft booths, fire engines, local artists and lots of fun for all!
There is a reason why Seattle chose to include the Hood Canal “Taste of the Canal” as Mason Counties only contribution to Seafair. Bring the family to Hood Canal this August 11 so you don’t miss this free fun.
The ever-popular 2012 Olympic Peninsula Salmon Derby, sponsored by the Gardiner Salmon Derby Association, will attract from 800 to 1,000 anglers this President’s Day weekend.
Luckily, there is a lot of room to fish for the out-of-towners and all the area anglers. Like last year, the derby includes 500 square miles of fishing and five weigh stations. And besides the fun of fishing, this giant derby also has a grand prize of $10,000 for the biggest fish.
The winter blackmouth classic is part of the Northwest Marine Trade Association’s “Northwest Salmon Derby Series.”
Brian Menkal of Brian’s Sporting Goods and More (360-683-1950) in Sequim said this weekend’s derby could very well attract 1,000 anglers. “The derby gets a lot of people,” Menkal said. “Especially a lot of local people. It is a huge area for the derby.
“Last year they added the Port Angeles and Freshwater Bay area to the derby and they picked up a huge amount of people. “People in Port Angeles could fish at their favorite spots.
For more information, go to Salmon Derby details
|Matthew Gardner has released The Gardner Report Q4 on his performance evaluations of Washington real estate. This quarterly report is exclusive to Windermere Real Estate but is made available here at no cost.
His conclusion to our Q4 market is:
As has been the case for all of 2011, an increase in sales of Washington real estate does not mean an increase in prices. The value of transacted units in our market declined by 15.5 percent from a year ago, excluding the volatile San Juan County which saw a drop of 14.8 percent. Looking at the specific counties within our survey, there were two that exhibited price growth from December of 2010, these being Island (+7.1%) and Clallam (+4.5%). Counties that saw the greatest price declines included: Jefferson (-30.1%), Kittitas (-28%), Mason (-26.4%), Grays Harbor (-20.5%), and San Juan (-20%).
There are, I believe, two reasons why we have not yet seen the price stability in Washington real estate that we are all looking for. The first of these is that the sale of distressed homes continues to make up a very large percentage of all transactions and these homes sell for substantially lower than market price. In King County, for example, distressed transactions made up 40 percent of all sales in 2011. Additionally, with such low levels of supply, we have seen a pronounced change in the make-up of sales with a disproportionate percentage of homes selling in very affordable price ranges. Both of these factors are having negative effects on home prices.
I am keeping the housing market at a “C-“ grade this quarter and am unlikely to change this until we start to see more housing choices become available and the percentage of foreclosures start to decline.
To see all of Mr. Gardner’s reports and his charts that make more graphical his analysis, click here to go to http://mikemostyn.com/windermeres-gardner-report/or use the navigation links to the left of this page for “Market Research” and click on Windermere’s Gardner Reports
“It will be business as usual” says the new executives at Black Ball Ferry Line who acquired the link between Victoria BC, Canada and the Olympic Peninsula. The 52-year-old company, which operates the MV Coho between Victoria and Port Angeles, has been purchased from the Oregon State University Foundation by the company’s executive management team.
Black Ball had been bequeathed to the foundation by former owner Lois Acheson in 2004 as part of a $21-million gift of her estate to establish an endowment in OSU’s college of veterinary medicine.
“The goal right now is to keep the course we have, the culture of the company intact and not try to change in too many respects,” said president and COO Ryan Burles, one of the five new owners. “The trustees at Oregon State did a great thing to keep it within the employees and maintain the legacy. It was Mrs. Acheson’s wish that the employees were taken care of.”
The Coho can accommodate 1,000 passengers and 120 vehicles on any one sailing. According to a 2006 study, it ferries more than 400,000 passengers and 120,000 vehicles and brings $123.7 million into the Victoria economy annually. The company employs more than 120 people and operates terminals in both Victoria BC and Port Angeles.