As of November 5th, sales of homes in Port Angeles had exceeded last year's tally. We have had 374 homes sell this year, versus 365 for the total sold in 2006. And as we draw to the last portion of the year many good bargains are still available.
There are 58 homes currently on the market priced under $200,000. Moving up to the $200,000 - $249,999 bracket the number has dropped from 54 last month to 46 now while there are 55 homes priced from $250,000 - $299,999. Last month there were 58.
In the $300,000 - $349,999 price range there are 27 homes; 34 priced from $350,000 - $399,999; and 28 homes are on the market in the $400,000 - $499,999 grouping.
Looking at the top two price levels, the $500,000 - $599,999 segment has 20 homes to choose from, down four from last month and the top level of $600,000 - plus priced homes has 25, up four from last month.
We have also had 28 homes removed from inventory through expiration of the listing or the property being withdrawn.
There are still enough homes for sale to give us just a bit more than seven months of inventory. Between the supply and the time of year, many sellers are motivated to have their property gone by the end of 2007 and bargains can readily be found in every price point.
For homes priced at $249,999 and below, there is about a four-and-a-half month supply in each segment. The absorbtion rate for the $250,000 - $349,999 groups is at about seven-and-a-half months. Properties priced from $350,000 - $399,999 have almost 15 months of inventory while there is a fourteen month supply of those listed between $400,000 - $499,999.
There is slightly better than two years of inventory in the $500,000 - $599,999 level and not quite seventeen months of inventory in the top range of homes priced from $600,000 and above.
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