The Sequim Washington real estate market is a curious but active one. Unlike some other parts of the west coast of the United States, there are some unique factors which play a role in Sequim property values and its residential real estate market dynamics. Located just outside Olympic National Forest to the northwest of Seattle, Sequim is a quiet place to live, with a small population of approximately 28,000 people. Read on to learn a little more about the Sequim real estate market.
Sequim Washington Real Estate Market
The Sequim residential real estate market continues to enjoy a solid and steady upward trajectory. This is great news for current homeowners who have seen their property values increase dramatically over the course of the last year or so. In fact, property values have gone up in Sequim by about 11,5 percent. However, what’s curious is the median list price per square foot remains only a couple of dollars higher than in the entire Port Angeles Metro area.
These facts, not to mention that distressed properties remain a substantial factor in the local Sequim real estate market. Current estimates show this trend slowing little over the course of the next few years. For instance, distressed properties, which are foreclosures and short sales, are well above the national average. But, this also represents a great opportunity for new home buyers who can also take advantage of low, affordable interest rates.
Sequim is best known for its Bay State Park, the Dungeness National Wildlife Refuge, and many outdoor recreational options. For help finding Sequim Wa Real Estate please contact us..