Upper End Homes Are The Slow Movers

Managing Real Estate Broker with Town & CountryReal Estate WA Lic# 32507

As of the end of March, inventory of homes in the Port Angeles area had risen in the last month with the strongest increase being in homes priced above $300,000.

     There were 281 homes available as of April 1st with 53 priced under $200,000.  Thirty-nine were available between $200,000 - $249,999 and 56 were priced at $250,000 - $299,999.

     Overall inventory over the previous month was up by 30 homes with 21 of them priced in the mid to upper range.  Homes priced from $300,000 - $349,999 saw an increase of seven for a total of 45.  Those running from $350,000 - $399,999 added three.  There are now 22 available.

     In the $400,000 - $499,999 range, three more homes came on, giving buyers 18 to choose from.  Three were also added in the $500,000 - $599,999 segment raising the available homes to thirteen.  Those priced above $600,000 saw an increase of four for a total of 21.  (The two top-priced home in the market are 3.5 and 4 million).

     At current levels, we have about ten-and-a-half months of inventory available.  The fastest moving segments are  priced at $250,000 and below with about five-and-a-half months of inventory.  We have a ten-and-a-half month supply of homes priced from $250,000 - $299,999 and almost three years for those priced from $300,000 - $349,999.

     There is a thirteen month supply of homes ranging from $350,000 - $399,999; a fifteen-and-a-half month inventory of those from $400,000 - $499,999 and close to a nineteen-and-a-half month stock of those from $500,000 - $599,999.  Homes valued above $600,000 have a three-and-a-half year supply.

     Seventy-three homes have sold so far this year with the average sales price within four percent of the asking price.  Average time on the market was four months.



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