Port Angeles, WA

Hurricane Ridge is one of the Pacific Northwest's premier tourist spots. Located in the Olympic National Park, Hurricane Ridge is 5,240 feet above sea level and boasts some of the most beautiful views in the nation.

Olympic National Park is a natural playground for locals and visitors alike. Hiking, backpacking, camping, fishing, and skiing are just a few of the many things a person can do in the park.

Yes, I said skiing.

Hurricane Ridge Ski and Snowboard Area is one of 3 remaining ski lift operations in national parks. The courses are groomed and perfect for the beginner as well as the advanced skier. It is a small family oriented ski operation that won't hurt the pocketbook. Hurricane Ridge boasts 1 poma lift and 2 rope tows. Lift tickets may be purchased at the ski trailer at the ridge. Day passes cost $25 for all lifts.

Ski equipment rentals are available at the Hurricane Ridge visitors center on the lower level. This is skis only. If you are a snowboarder, rentals must be made elsewhere. In Port Angeles, the best place to rent snowboarding equipment is North by Northwest.

Hours of operation are Saturday and Sundays only from 10am to 4pm and some holidays during the winter season. This season lasts from mid-December to March. Hurricane Ridge receives up to 400 inches of powder each year. It's great skiing fun. I know families who plan their weekends around "skiing the Ridge."

When you arrive at the park, there is a $15 entrance fee. Or you can buy an annual pass for just $30. This is a great deal as you can plan many other weekend vacations to any part of Olympic National Park and enjoy its wonders throughout the year.

The Hurricane Ridge Winter Sports Club also provides a 6 week ski & snowboard school for children from toddler age and up. Other offerings at Hurricane Ridge in the winter are snow shoe hikes, a place for sledding, and cross country skiing.

For more information about Hurricane Ridge winter sports, check out the Winter Sports Club website.

For information on conditions at Hurricane Ridge call the Park at 360-565-3131.

The majority of sales in Port Angeles were in the price range of $175,000 to $300,000, and there were more single family homes sold in the lower price range than the upper price range. Over 50% of the houses sold are in three price ranges from $175,000 to $300,000--not a surprise. The more interesting statistic is that houses sold in 2007 in Port Angeles over the price of $400,000 accounted for only 9% of the market.

Sellers with homes priced above $400,000 will only sell to 9% of the entire buyer population! That will have implications for how a home is priced and marketed from day one. This is another major reason that overpricing a home in the beginning kills almost all chances of connecting with a buyer right away. Many FSBO's, and even many real estate agents, think that the best strategy to sell a home above $400,000 is to price the home high and leave room for negotiating downward, but this is actually a strategy that guarantees 91% of the buyers won't even come to the table.

It's something to think about in this market.

[Data Source: Real Market Data, LLC]

As of December 31st, home sales for the Port Angeles market were down fourteen from 2006's figures with 425 transactions closed against the previous year's 439. Dollar volume was down seven percent with total sales for 2007 at $103,727,802 versus $111,866,666 for last year.

As the year comes to the end, we have 268 active listings with 26 having come on and 34 having left the market due to listing expiration or withdrawal in December. Over 50% of the homes available are priced below $300,000.

There are 59 homes priced to $199,999 and 43 priced from $200,000 - $249,999. In the $250,000 - $299,999 segment there are 50 homes available.

There are 35 properties priced from $300,000 - $349,999 and 26 priced from $350,000 - $399,999. Moving up to the $400,000 - $499,999 range, there are 23 homes on the market. The top two segments of $500,000 - $599,999 and $600,000-plus have sixteen listings each.

In sales this year, as compared to last year, there were 137 homes that sold for under $200,000, versus 151 for 2006. Homes that sold from $200,000 - $249,999 saw an uptick with 104 selling this year and 95 last. The next three ranges of $250,000 - $299,999, $300,000 - $349,999 and $350,000 - $399,999 all saw a decrease in sales numbers with 73/84, 39/45 and 24/29 homes sold respectively.

The last three segments all saw an increase with the largest being fourteen sold versus four in 2006 in the $500,000 - $599,999 block. Homes sold in the $400,000 - $499,999 range saw an increase from 21 last year to 23 this year.

Last year there were ten homes that sold for more than $600,000. This year there were eleven. In 2007, on average, homes sold for 96.5% of the asking price across the board.

Even though the year is winding down, inventory has increased with eleven new homes coming on the market during the week of Thanksgiving, bringing the total homes available to 292. The most sought after segment of the market is also the largest area of the market. In the last two weeks of November the inventory of homes priced at $199,999 and below has grown to 64. The $200,000 - $249,999 segment still holds 46 homes with one being added and one sold in the last month.

Homes priced from $250,000 - $299,999 have dropped slightly in number from 55 at last report to 52 currently available, while homes in the next bracket ($300,000 - $349,999) have increased from 27 to 32. there are also 32 homes priced from $350,000 - $399,999, down from 34 at the end of October.

In looking at the upper segments, homes from $400,000 - $499,999 have increased by one to 29 with one selling and two coming on. In the $500,000 - $599,999 grouping the inventory has dropped by three to 17 available and the number of homes in the top price point of $600,000+ have dropped to 21 from last month's level of 25.

In general, we still have about seven months of inventory. There is a five month supply of homes priced under $199,999 and almost a four-and-a-half month supply of those priced from $200,000 - $249,999.

There is a six-point-seven month supply of $250,000 - $299,999 homes and almost nine months of inventory for homes listed from $300,000 - $349,999, after that inventory increases dramatically. There is close to an eighteen month supply of homes priced from $350,000 - $399,999 and a slightly better than thirteen month supply of $400,000 - $499,999 homes.

The biggest inventory, as far as absorption rate, is the $500,000 - $599,999 segment with about 26 months worth of supply. The top segment of $600,000+ would need slightly less than 16 months to be depleted.

So take a look at the market. Even at this time of year, you might be surprised at the bargains you'll find awaiting.