Last year at the end of January there were 259 homes on the market in Port Angeles. This year there were 264.
The inventory of homes priced at $199,999 or under number 57, versus last year's supply of 34, an increase of 57%. There are 42 homes priced between $200,000 - $249,999. Last year there were 37. The number of homes priced from $250,000 to $299,999 is at 49. Last year there were 46.
Shifting to homes ranging from $300,000 - $349,999, the numbers are almost identical with 34 on the market now, versus 35 in 2007. The number in the range from $350,000 - $399,999 is down from 43 last year to 23 now and homes priced from $400,000 - $499,999 show 26 to choose from. Last year there were 21. While the number of homes priced from $500,000 - $599,999 has shrunk from 20 in 2007 to eleven this year, the number of $600,000+ homes has grown by three from the level of 16 to 19 currently available. With the start of the new year, inventory has grown. In January, 19 homes sold and 32 new listings came on the market.
The market is close to balanced with more to the buyer's side as we have almost eight months of inventory at this time. The average home is selling in a little less than three-and-a-half months.
Homes priced from $500,000 - $599,999 lead the pack with a 19 month inventory at the current absorption rate.
There's a 17 month inventory of those priced from $400,000 - $499,999, a 16 month inventory of $350,000 - $399,999 homes and a 12 month supply of the ones priced over $600,000. There's a ten month supply of homes from $300,000 - $349,999 and seven month's worth of those priced from $250,000 - $299,999. Homes priced under $200,000 have about a six month supply and the fastest movers are from $200,000 - $249,999 with about five month's of inventory.
If you are looking for a home or an investment, now is a good time to shop.
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