volume to date residential sales · trends and expectations, your time may be near at hand. the...
TRANSCRIPT
Your SanJuanProperty.com Team
Debra Sullivan, Broker Cell 360.317.8753
Vicki Klein, Managing Broker Cell 360.317.5164
105 Spring St - PO Box 100 Friday Harbor, WA 98250 www.SanJuanProperty.com
San Juan Real Estate Market Update Fall 2016
FEATURED PROPERTIES
98 Apple Tree Ln, Friday Harbor MLS# 1005808 $489,000 REDUCED
NHN Avenida De Oro, Friday Harbor MLS# 914101 $479,000
Lot 4, Tibbs Rd, Shaw Island MLS# 975126 $425,000
WE HAVE ACTIVE BUYERS LOOKING FOR
Waterfront home with guest house up to $1.2 million
Financeable 3 bedroom + home w/privacy under $250k
Water view home w/guest house, vacation rentals allowed,
main floor master up to $1 million
SAN JUAN COUNTY REAL ESTATE MARKET UPDATE (ALL ISLANDS)
The third quarter results for combined residential and vacant land sales throughout San Juan County reports a total sales volume of $172,647,748 compared to last year’s $145,009,723. This is a 16% increase in volume countywide thus far this year.
Residential sales in San Juan County reflects an increase in dollar volume by almost 20% from last year’s dollar volume. As indicated by the graph to the right the residential sales on San Juan Island far surpassed those of Orcas, Lopez, Shaw & the non-ferry served islands.
It is worth mentioning that Lopez Island’s total dollar volume by the end of the third quarter has almost doubled from last year, from $8,824,475 in 2015 to this year’s $16,373,418. Lopez appears to be up and coming in popularity as buyers shop for value.
Another indicator of recovery in our local market is the median sales price throughout the county has increased by almost 18% over last year at this time ($491,333 vs. $403,172 respectively.) This certainly does not equate to an 18% increase in property appreciation, but rather, as shown in the transaction table to the left, indicates an increase in the absorption of higher priced properties and a decrease of sales in the lower priced market (in our opinion due to a lack of desirable inventory.)
Countywide vacant land sales volume has been sluggish with a decrease of almost 15% since last year at this time. Sales transactions are slightly up (107 in 2016; 100 in 2015) but volume is down (2016 = $19,217,750 and 2015 = $22,070,956). We feel this is a reflection of the regulatory “unknowns” of to the Critical Area Ordinance and the forthcoming Shoreline Master Program, particularly with waterfront parcels. Until the existing home inventory is near depletion and/or becomes disproportionately priced, buyers’ perceived value, financially and aesthetically, and therefore their interest in purchasing vacant land will continue to be low. But hang in there vacant land sellers, by all trends and expectations, your time may be near at hand.
THE ISLAND MARKET REPORT CONTINUES ON THE NEXT PAGE
Sales Price Year to Date 2015 Year to Date 2016
$0-499,999 144 139
$500,000-$999,999 69 84
$1 Million + 19 32
NUMBER OF SOLD RESIDENTIAL PROPERTIES - YEAR TO DATE
$79,613,266
$49,434,093
$16,373,418
$9,009,750
Residential Sales Volume to Date
San Juan Island
Orcas Island
Lopez Island
Shaw and Outer Islands
If your property is currently listed with a Real Estate Broker, please disregard. It is not our intention to solicit the offerings of other Real Estate Brokers. We are happy to work with them and cooperate fully.
COMMUNITY SERVICE MEMBER SPOTLIGHT
UPCOMING COMMUNITY EVENTS
OCTOBER
28 & 29 - Frightmare at the Fairgrounds
29 - SJI Farmers Market
31 - Halloween
NOVEMBER
4-6 - Friday Harbor Film Festival
5 & 19- SJI Farmers/Holiday Market
8 - ELECTION DAY
11 - Veteran’s Day
24 - Thanksgiving
25 & 26 SJI Artisans Holiday Market
DECEMBER
1-3 - Friday Harbor Salmon Classic Derby
2 - San Juan Island Lights Festival
3 & 17 - SJI Farmers/Holiday Market
17 - Lighted Boat Parade/Santa’s Arrival
17 & 18 - Salish Sea Ballet’s Nutcracker Tea
Party
24 - Hanukkah begins
25 - Christmas
31 - New Years Eve
The Island Market Report (July 1,2016 - September 30, 2016)
San Juan Island # of Residential
Listings
Average Days
on Market-Resi
Price Range
$0-$499k
Price Range
$500k-$999k
Price Range
$1 Million +
# of Vacant Land
Listings
Average Days on
Market-Land
Active Listings 138 339 48 52 38 131 632
Pending Listings 18 272 10 5 3 9 571
Sold Listings 54 131 26 21 7 12 575
San Juan Island - 2016 Year to Date Volume (Residential):$78,613,266 2016 Year to Date Volume (Vacant Land): $6,403,350
Orcas Island # of Residential
Listings
Average Days
on Market-Resi
Price Range
$0-$499k
Price Range
$500k-$999k
Price Range
$1 Million +
# of Vacant Land
Listings
Average Days on
Market-Land
Active Listings 109 263 27 46 36 105 711
Pending Listings 13 249 6 5 2 3 265
Sold Listings 41 249 19 14 8 15 317
Orcas Island - 2016 Year to Date Volume (Residential):$49,434,093 2016 Year to Date Volume (Vacant Land): $9,972,300
Lopez Island # of Residential
Listings
Average Days
on Market-Resi
Price Range
$0-$499k
Price Range
$500k-$999k
Price Range
$1 Million +
# of Vacant Land
Listings
Average Days on
Market-Land
Active Listings 50 269 20 23 12 53 553
Pending Listings 3 323 2 1 0 3 292
Sold Listings 18 132 12 5 1 6 807
Lopez Island - 2016 Year to Date Volume (Residential):$16,373,418 2016 Year to Date Volume (Vacant Land): $1,709,500
Shaw and # of Residential
Listings
Average Days
on Market-Resi
Price Range
$0-$499k
Price Range
$500k-$999k
Price Range
$1 Million +
# of Vacant Land
Listings
Average Days on
Market-Land
Active Listings 39 492 18 11 10 47 582
Pending Listings 3 635 1 0 2 0 n/a
Sold Listings 5 433 3 1 1 3 284
Shaw and Outer Islands - 2016 Year to Date Volume (Residential):$9,009,750 2016 Year to Date Volume (Vacant Land): $1,132,071
*All statistical information is provide by the Northwest Multiple Listing Service and may not reflect sales transacted privately and outside the NWMLS. As Brokers we diligently strive to provide each
of our clients with the most accurate and relative information.
Debra Sullivan, Broker Cell 360.317.8753
Vicki Klein, Managing Broker Cell 360.317.5164
105 Spring St - PO Box 100 Friday Harbor, WA 98250 www.SanJuanProperty.com
YOUR SanJuanProperty.com TEAM
We are shining our spotlight on Lauren Sands
with Mortgage Master. Lauren has been the
loan officer for several of our valued clients
and has provided them with exceptional
customer service! Congratulations L a u r e n ,
you are our Island’s Shining Star!