November 2008 Sales Summary in Sequim, WA

November was the slowest sales month Sequim has experienced since 2002 when we started tracking that info. 3 parcels of land sold in the Sequim area with 575 parcels for sale; and 20 residences on owned land sold in Sequim, with 480 active residential listings. Of the 13 site built Single Family Residences that sold in Sequim in Nov, (one was our listing, and we have another listing under contract) 6 of them were foreclosures. I'm certain much of the downturn can be contributed to the decrease in the stock market, and with the market fluctuating so much and real estate prices dropping, in December we are now seeing a little bit of an increase in activity with more Buyers looking. With the drop in interest rates, I believe we will see more properties going under contract. The homes that are offered with "compelling prices" appear to be the ones that are moving, so as ever, it is extremely important to have the right price when coming into this Buyer's Market. Sequim has always been considered a very desirable place to live and is a "retirement destination", and I believe we will see more people arriving here as soon as they can sell their homes elsewhere.