Market Trends & Happenings
First Quarter - 2020
Fourth Quarter - 2019
Wow!! Fourth Quarter finished strong with the only problem being the low inventory again. At times there was only one home for sale and listings priced right stayed on market for only days. The list of buyers looking for homes at the Pointe is growing and the inventory is not. Hopefully as we edge into 2020, with prices heading up, there will be some new For Sale signs up! If you are thinking of selling, 2020 may be the best year yet.
Some of the buyers are looking at lots to build, but are often discouraged by the timeline to get a home built. There were lots of lot showings this quarter, but no sales. One unlisted lot is pending.
Third Quarter - 2019
Unfortunately the Second Quarter narrative was skipped due to an especially busy selling market.
Third Quarter did not slow down and for one day there was only one listed house for sale. As of September 30, there is only one home for sale and no island houses listed for sale. Buyers are still looking for properties here and are discouraged by the low inventory. If you are thinking of selling, this is the time. Your listing will not likely be on the market for long.
Many buyers are looking at lots and planning to build. Our inventory of listed lots has stayed stable or grown slightly over this year and purchasing a lot to build on is a good option as lot prices are stable.
First Quarter - 2019
WOW AGAIN!! The first quarter started off busy as usual, bringing out buyers to view homes, but March brought in new listings followed by buyers with offers. As we struggle with low inventory, we are seeing the fastest turnover ever.
One weekend in March four new listings popped up and within days, three of them had offers. One cabin was listed on a Wednesday and received a call five minutes later, a viewing that day and an offer the next day. If you are thinking of selling, this is the time. Buyers are still looking at lots and building new homes due to lack of inventory in homes.
As of April 11, 2019, there are only two homes listed for sale and eleven are pending.
GRID NOTE: Pendings are in parenthesis
Fourth Quarter - 2018
WOW!! What a drop off of sales in the fourth quarter. This is actually unusual in that we tend to have a more even number of sales throughout the year, and do not generally follow the trends of Seattle and other metro areas, which are also trending down. Altogether, 20 homes were sold this year (five less than our banner year 2017). We also had fewer island house sales, but this is mainly due to lack of inventory. Our lot sales have continued to increase due to low inventory of homes.
Buyers are still looking at homes and lots here throughout the year and hopefully the first quarter will show a surge in sales as in past years.
We currently have only five homes listed for sale and one of those is pending. There is only one island house listed and lot listings are down to only 15 from a high of 20 at the start of 2018. Most lot buyers are planning to build in the near future.
There are also some homes that have sold as FSBO, but I do not have those records.
Third Quarter - 2018
Third quarter had continued strong activity in sales of homes, island houses and lots. As of September 30, have only four homes listed for sale, and one pending. We sold 9 homes which is the amount from both previous quarters combined. There has also been at least one home sold by owner. We have no island house listings, but one is pending. Lot sales slowed down a little, but buyers are still viewing lots every week, especially since there are few homes to choose from. We have 16 lots for sale and two pending.
In general, activity has slowed a little in the last month or so. Forecasts for Seattle area show a little slowdown and more stable prices, but does not necessarily follow for the Pointe.
Second Quarter - 2018
This quarter, activity is strong in sales of homes and lots. Four homes and one island house have sold. Three of the homes had water view. Currently there are four homes pending. Our current inventory is six homes and two island houses left for sale which includes only one water view home. There are several showings every week often by agents from Seattle, Tacoma, Gig Harbor, Olympia and other nearby areas.
With our current low inventory, lot sales are thriving. Our inventory is down to 14. We sold five which includes two water view (the first water view lots sold in several years), and two lots are pending.
If you are thinking of listing, this is a good time!
First Quarter - 2018
The first quarter of 2018 is still going strong despite the lack of inventory. As of March 31, we have two island houses and two homes for sale which includes one water view home. We sold four homes during this period. Also, at least one home sold as a FSBO.
Lots continue to be the big news. Our inventory is going down. As of March 31, we have 20 lots listed for sale and three pending (which includes the first water view lot to be sold in the last five years). Three lots sold this quarter!