Upper End Homes Are The Slow Movers

By
Real Estate Agent with Windermere Real Estate

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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