About Clallam County, WA

Over the course of 2007, 427 homes sold in the Port Angeles market. In 2008 the number dropped by 31% to 295 sold. At the end of 2007 we had 241 homes on the market and we had about six-and-three-quarter months of inventory. It took about two-and-a-half months to move a house back then.

Now we have 276 homes on the market - because 67 expired last week; although some will be back. The week before we had 333 on the market. Even at the lower number, we have about eleven months of inventory. This year, the average home sold in about three-and-a-half months. According to our in-house calculations the average home lowered nine-percent in value this year.

At the end of the first quarter of this year, sales were down ten percent from ‘07 and it was taking about 30% longer to sell a home, even though the inventory was virtually identical in total homes on the market (281 in ‘08 vs. 279 in ‘07).

By mid-year, sales were down 26% from the year previous and the time needed for a sale had crept to 32% longer than the year before.

The market had slowed by the end of September to where sales were down 32%, it was taking slightly more than four months to move a house and we had an absorption rate of one year, if all 329 homes were to sell.

As we begin 2009, this market is mirroring the national average, eleven months of inventory.

Of the 276 homes, 58 are priced under $200,000 with an estimated five-and-a-half months of inventory. There are 65 priced from $200,000 - $249,999 with a thirteen-and-a-half month absorption rate.

The next two price segments each have thirteen months of inventory. In the $250,000 - $299,999 range there are 56 homes with 26 in the $300,000 - $349,999 segment. The $350,000 - $399,999 grouping has just above thirteen months and a week's worth of inventory. After that, you might be in for a long haul if you're the seller.

The $400,000 - $499,999 group has almost 23 months of inventory with nineteen currently listed. The $500,000 - $599,999 bracket has two years of inventory with eight on the market.

Looking at the top of the pricing ladder, homes priced at $600,000 or better, there are 24 homes being offered accompanied by a four year absorption rate.

On the bright side -- this is a buyer's market, but if you are a seller, while you may not get this year what you might have gotten two years ago, you also won't be paying out like you would have two years ago if you'll be buying as well. And with better interest rates than we've seen in a long time, you'll probably make out better than you otherwise would have.

Two months ago, annual sales levels were down by about fifty percent. Last month they were down about thirty-five percent. This month, just 30% with 280 sales year-to-date versus 398 in 2007.

This is not a cause for alarm, despite what the national media are extolling. Annual sales were down in ‘07 from ‘06 and they are again lower this year from last. Bear in mind that real estate markets are similar to lumbering beasts, they don't speed up or slow quickly. They are more cyclical in nature. After a dramatic upswing (‘05 - ‘06) there is always a time when the pendulum swings back.

Some buyers are concerned that prices may continue to lower. And not to dismiss that concern, but housing is not like a consumable good. Buying a turkey during the week before Thanksgiving is wise because stores take a loss (this year of 72 cents a pound) to get you in the door.

Homes, on the other hand, will continue to appreciate; although the growth will vary from year to year. You may end up spending more in sales price now than you might six months from now, but you won't be losing money if you buy now.

The home you're looking at may not be there in six months. Even in this slower market, last week seven sold, four went under contract, five came on and eighteen were withdrawn or expired as listings. Read that as inventory down 29, up five.

Interest rates are also very low right now, allowing you to get even a better deal than just a lower price.

If your budget is in the under $200,000 range there are 72 homes currently available, up twelve percent from last year.

The $200,000 - $249,999 level also has 72 homes available, 42% more than a year ago. The selection of homes in the $250,000 - $299,999 range is up 30% in the number of offerings with 77 currently listed.

If your budget falls into the $300,000 - $349,999 or $350,000 - $399,999 price level, there are 31 homes in each, with a three percent and six-and-a-half percent increased inventory respectively.

There are fifteen percent fewer offerings in the $400,000 - $499,999 segment with 23 homes listed for sale. Last year we had twice as many homes priced from $500,000 to $599,999. There are now nine to choose from.

In the top level, homes priced from $600,000, there are 23; which is up seventeen percent from last year's levels.

It's taking an average of four-and-a-half months to sell a home and we have almost thirteen months of inventory. Last year it was taking almost the same amount of time to sell a home (slightly less) during this time of year, but we had 44% fewer homes and only about seven months of inventory.

If you're thinking of selling, we have almost seven months of inventory priced under $200,000. The $200,000 - $249,999 and $250,000 - $299,999 segments have fourteen and fifteen months, respectively. Whether you're looking at the low or upper $300,000's, there's almost seventeen months of inventory.

Homes priced above that have much longer waiting times. The $400,000 - $499,999 homes have 27.7 months of inventory and those priced from $500,000 to $599,999 are in a segment that would take over four-and-a-half years (56.3 months) to sell out. The top-priced homes ($600,000+) have 46 months of inventory.

Want to help Sequim and Port Angeles grow in the right direction? Ever wonder what you can do to make a valuable contribution toward that end? Are you passionate about some issues but not others? Do you want to make your opinion count with hundreds or thousands of other Sequim and Port Angeles residents?

Complete this survey and we'll enter you in our monthly drawing for the $100 cash giveaway! (Sequim & Port Angeles Residents Only, see survey for details)

This survey seeks insight into what drew you to move here, what you love most about living here, and what you would change. You'll have simple multiple choice and a couple of essay questions you can choose to answer or not. Tell the truth about how you feel, and identify yourself or remain anonymous. It's up to you.

Now you can help by taking this easy online survey, and the results will be made available to you and shared with decision makers who will hear your voice. The survey consists of 28 easy questions and you can probably take it in 5 to 10 minutes.

Take the Sequim and Port Angeles Community Survey

Results can be emailed to you and will be subsequently compiled here for analysis. This is another community service from your friends right here at Sequim and Port Angeles News Online.

I finished raising my children in Sequim from 1994, and prior to that we lived in Las Vegas for five years, and prior to that seven years in Spokane, and prior to that 22 years in Alaska where I grew up. I hereby testify that the weather and climate in Sequim is precisely between the two extremes found in Nevada and Alaska.

I do not miss 70 degrees below (Farenheit) in Tok, Alaska, nor the ice fog that greatly reduces visibility on the streets of Fairbanks at 50 degrees below. We burned 10 cords of wood every winter, and guess who had the privilege of cutting and splitting the wood? I loved it.

Nor do I miss 115 degrees in the sunny climate of Vegas. I've been a jogger my whole life, and running daily in the desert heat at 90 to 110 degrees was . . . well, it was sweaty. But I loved it.

But there's nothing like the in-between. We have the Olympic Mountains, we have the rain forest, and we have sunshine down here near the water. Talking about water, we have more beautiful water front property here than any place I lived in Alaska or Nevada.

My son, Bristol, who is a professional mixed martial arts fighter, now lives and fights in Vegas. He called me today to tell me how nice and warm it was there, about 70 degrees. I talked to my folks who still live in Tok, Alaska, and it was 65 degrees below. That's a 135 degree difference on the same day.

What was it in Sequim? About 50 degrees, and this is winter. Home sweet home. You gotta love it in Sequim.

[Photo taken by Chuck Marunde at Four Mile Lake up the Taylor Highway just outside of Tok, Alaska. The only way to the Lake from the gravel road way off the beaten path known as the Alaska Highway was to pull our canoes over moss and muskeg for about two or three miles. We did that with four wheelers. We caught several trout and immediately went to shore and cooked them on a grate over an open fire with a little spice my sister had with her. Wow! Incredible! Anybody want to go fishing up north?]

Sequim and Port Angeles now have a newspaper online with a new and exciting look and content that is driven by local interests, stories, and helpful news. This is bigger than it may sound for several reasons. What sets this newspaper apart from the Sequim Gazette or the Peninsula Daily News? A lot. Here's the short list:

Exclusive Online Newspaper. People are using the Internet for almost everything, including reading the news and searching for information. The Internet is an amazing venue, because it doesn't matter whether a person lives in Sequim or Port Angeles, or in Santa Barbara or Phoenix, all can do the same search on the Internet and read the same news online. Now with a dedicated online news source, Sequim and Port Angeles has joined the rest of the world with an exclusive online newspaper.

User Friendly. This online newspaper is designed for consumers to be easily navigated with news well organized as well as information and classified ads easily accessed. Logical and intuitive navigation is no small thing these days. Sometimes it's hard to find what you're looking for on the Internet, but this newspaper is designed to make it easy and enjoyable to read. Readers will love our articles and the positive focus of our efforts. We seek to educate our readers with solid news, local news, national news of interest, photographs of local activities, opinions and commentaries, good advice, and a free classified ad service online only for Sequim and Port Angeles buyers and sellers. Our readers will receive valuable services, all free, including the ability to search the entire Sequim and Port Angeles MLS (multiple listing service) online without registration. Readers are encouraged to submit news and human interest stories. When was the last time a print newspaper made that offer? Our readers can email news to our editor and submit news of local events and local people. This makes this newspaper something that is essentially owned by Sequim and Port Angeles residents. You can not only read the news, you can be the news.

Free Subscription Online. While print newspapers have to rely upon subscription fees and advertising income, we offer our online newspaper to our readers absolutely free. Not only is our newspaper free online, many of the services that are packaged with our newspaper are free, including a powerful online classified ad service dedicated to Sequim and Port Angeles, MLS searches, and much more to come.

Independently Owned. Traditional business models for print newspapers are completely different creatures. Print newspapers have a lot to worry about, including high overhead and massive fixed and variable expenses, and as a result they have to chase businesses (with some high pressure techniques) to pay for expensive advertising. That is a driving force for print newspapers that a dedicated online newspaper simply does not have. You'll be pleased with our online newspaper, because obnoxious advertising isn't slapping you in the face every time you look at it. What does that mean for consumers? It means news that is focused on what consumers are truly interested in reading without artificial or hidden agendas. It also means we can publish human interest stories and positive news that inspire and encourage its readers. You may wonder who the founder and editor is. That would be ChuckMarunde , J.D. Chuck is a retired real estate attorney, real estate broker, and author. Chuck is an avid writer on the Internet and an Internet marketing consultant. This is another of the community services that Chuck is pleased to offer.

Read, learn, laugh, and enjoy. Sequim and Port Angeles Newspaper online. Let us know if you like what we are doing.