In a past article I discussed where our Buyers are coming from, but in this article, I think you might like to see how our 2017 sales market stacks up against last year at this same time….
The total number of Orcas sales has increased from 42 in 2016 to 53 this year to date. But that doesn’t tell the whole story, because the price points where the sales have occurred are significantly different year-to-year.
The 2016 and 2017 number of properties sold between $150 and $350K are very similar. But, starting at $400K thru $550K, there have been almost twice as many sales in 2017. Interestingly, homes priced in the $600K range sold better in 2016 with the $700K range being very similar year-to-year.
The real change is from $800K and up. Last year there were no sales in the $800K range but there have been a number of sales this year. 2016 sales between $900K and $1,400K were stronger than 2017, but 2017 exceeded from $1,500K and above.
What can we draw from all of these statistics? Honestly, no real pattern other than the availability of inventory is our largest determinant of what sells. We have a shortage of properties currently on the market, and yet many buyers are still coming into our offices on a daily basis, still looking for their dream home or second home. Isn’t this just the way it always happens?
For those owners who have been hesitant to list their Land or Homes, we haven’t seen a better time than now! And that isn’t just hyperbole. We are approaching our prime selling season of the year.
People visit Orcas during the summer, fall in love with the Island, return home to mainland America, and start trying to figure a way to make our home their home. They return in September with money in pocket, ready to make their move. It’s just the way this business works.
Enough of statistics….we wish everyone a wonderful fall in the Islands and hope to see many of you in the office, where the coffee is always on and the conversation interesting and friendly.
Until next time,
John Dunning, Designated Broker/Owner