Market Report from the Olympic Peninsula

Today is Real Estate Statistic sharing day. I know there are some of you out there who love real estate statistics. About every two weeks I post real estate stats for our area. Our area is Mason County in the state of Washington. We are nationally recognized as "the Gateway to the Olympic National park"and also known for our Hood Canal recreation lifestyle.

The Mason County real estate sales statistics for May 16 through May 31, 2009 posted 51 total sales in the amount of $10,131,995. Single family resales on less than 5 acres accounted for 30 of the 51 sales.

Good news for new construction with 5 sales of new single family homes. 4 new homes sold in the Area C (Ayers Point, Belfair, East Shore) and 1 new home sold in Area B (Hartstene Island, Agate). There was 1 sale for a single family resale on more than 5 acres.

Other real estate sales include 1 commercial, 5 mobiles with land, 6 platted lots and 3 short plats.

Sales activity by area revealed that Area C produced 20 sales in the amount of $4,660,597 with Area A and Area D (Triton Head, Hoodsport, Union) each had 11 sales. Area A's 11 sales amounted to $2,051,400 and Area D's amount was $2,297,598. Area B posted 9 sales in the amount of $1,122,400.

Prices for single family resale's, on less than 5 acres, ranged from a high of $497,250 for a waterfront property on hwy 101 in Potlatch to a low of $19,500 in Area B. There were 3 homes sold in the $400,000- $499,999 range, 1 in the $350,000-$399,999 range, 2 in the $300,000 - 349,999 and 2 in the $250,000 - 299,999 range.

The majority price range was $200,000 - $249,999 with 7 sales recorded. 1 sold in the range of $180,000 - $199,999, 4 in $145,000 - $159,999, 2 in $130,000 - $144,999, 4 in $115,000 - $129,999 and 3 in the $80,000 - $99,999 price range.

For this two week period the average price for a single family home on less than 5 acres was $210,638 and the Median price was $191,250. New single family homes sold averaged $196,990 with a Median price of $200,000.

Mason County also posted 189 Loans and Mortgages in the amount of $33,617,847. The average rate was 4.86% for a 30 year conventional loan.

An analysis of the Mason County Loans for the past 12 months shows that 65.241% of all loans taken out were conventional loans. FHA loans accounted for 12.445%, Adjustable rate loans were 9.16%, Private loans were 7.977% and VA loans represented 5.181% of the loans taken out.