WHAT’S LAND GOT TO DO, GOT TO DO WITH IT? Land Sales Recovering?
What’s land got to do with it?
Only 13 more shopping days until Christmas and I’m feeling a little tingly all over, yet it’s more than Holiday Cheer; land sales in Sequim and Port Angeles are up by about 30% so far in 2015 and that makes me downright giddy.While bargains are still aplenty, this improvement in the land market has a great ripple effect for new construction, for new neighborhoods, and for overall economic wellness on the Olympic Peninsula.
In talking with a longtime client this morning who has two parcels to sell, I explained that his 5-acre parcel in Port Angeles was competing against 67 other similar properties for a buyer. And with 22 comparable sales so far this year, we could predict that at a sales rate of 22 parcels per year there remains a three year supply on the market for sale.
Now this assumes that the market won’t change, and I assured him, as I will promise you: The real estate market always changes! Over the past three years land sales have slowly improved. No boom, no goldmine, but enough steady improvement to allow for some optimism in the market.
So goodbye 2014 with your 181 land sales, and farewell 2015 with 241 land sales so far, and hello 2016…let’s keep going and growing!
Got land? Want land? Talk to us!
Eileen Schmitz, Designated Broker/Owner, JACE Real Estate
To see what’s happening in the market or to search for land or homes, follow the link: http://jacerealestate.idxbroker.com/idx/search/basic
