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In Sequim, 162 homes at or below that level sold in 2013, and have gone down to 37 in 2017, 16 in 2018, 18 in 2019, and 11 so far this year. “A lot of people are looking to buy, but there’s not a lot of inventory,” he said. As of December 18, 2022, the average rent for a 1-bedroom apartment in Sequim, WA is $1,500.
Percentages are based on the number of housing units for each type over the total number of units across all types. Median home value is the value which has equal numbers of homes valued above and below it. The median home value is more stable than the average home value, which can be greatly affected by a few very high or very low home values. According to the most recent data on the cost of living, Sequim has an overall cost of living index of 110 which is 1.1x higher than the national index of 100. Using sophisticated modeling techniques, our BestPlaces analysis expands the geographic scope of our Cost of Living Indexes down to the zip code level, covering every county, city, and metro area in the United States. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication.
Recently sold homes
Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit. Mortgage transactions on condominiums or multi-unit properties are also excluded. As such, NeighborhoodScout does not produce appreciation rates for neighborhoods that consist solely of renters or have no single-family homes . In November 2022, Sequim home prices were up 20.5% compared to last year, selling for a median price of $533K. On average, homes in Sequim sell after 30 days on the market compared to 19 days last year. There were 14 homes sold in November this year, down from 22 last year.
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis. But with the current growing trends, he’s confident that “prices will continue to appreciate” as interest rates remain low. Median prices fell to $99,000 and 1.01 acres sold, but McAleer said it comes with a caveat that 20 City of Sequim lots sold that are smaller and less expensive than lots in unincorporated Clallam County. From her recent experiences, Schmitz said people seeking Sequim are “weather refugees,” “wildfire refugees” and people coming from higher real estate prices.
Sequim Home Appreciation Rates
Housing swings affordability the most between places in Washington, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations. A cost of living index allows you to compare what it costs to live in one place against another, revealing how far your money will go in different areas. Scores are presented in relation to the national average of 100.
Housing market information is provided by Altos Research, Inc. based on analysis of all active market properties for sale in the US in the preceding week. All analytics are copyright Altos Research and not affiliated with any MLS. Visit our Seller Resource Center, backed by top agents, data analysis, and rigorous research. To see the City of Sequim’s upcoming development projects, visit sequimwa.gov/471/Current-Projects.
Most Affordable Places to Live in and Around Sequim
ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. Storm risk estimates how much climate change increases the chances of extreme precipitation, when a lot of rain or snow falls in a short time, including thunderstorms, snowstorms, and tropical cyclones. Heat risk estimates how much climate change might increase the typical number of hot days in a year and the likelihood of extreme heat and heatwaves. Can sell for about 1% above list price and go pending in around 3 days.
“The day of the $100,000 stick-built home is long gone,” said Eileen Schmitz, president and designated broker for Jace Real Estate Company. In his report, he said an improving internet infrastructure and sustaining the good retirement destination title are some of the big draws along with the lower traffic, slower pace, and scenery. Estimates for the most recent period have a high degree of uncertainty due to limited data for this bedroom type in Sequim, WA and may not be representative of the actual market. The standard of living in Sequim ranks as #4,129 most affordable out of the 6,418 places we measured in Washington. By definition, that implies Sequim ranks as the #2,289 most expensive place in the Evergreen State.
Sequim appreciation rates in the latest quarter were at 3.46%, which equates to an annual appreciation rate of 14.56%. Recently sold homes in Sequim, WA had a median listing home price of $418,975. There were 426 properties sold in Sequim, WA, which spent an average of 68 days on the market. Some of the hottest neighborhoods near Sequim, WA are East Queen Anne, Lawton Park, West Queen Anne, Adams, North Queen Anne. You may also be interested in single family homes and condo/townhomes that sold in popular zip codes like 98382, 98362, or neighboring cities, such as Port Angeles, Port Townsend, Poulsbo, Oak Harbor, Port Ludlow.
Bureau of the Census, and a weighted repeat sales index, meaning that they measure average price changes in repeat sales or refinancings on the same properties. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac . Then proprietary algorithms developed by Dr. Schiller, NeighborhoodScout's founder, are applied to produce neighborhood appreciation rates.
Our data are calculated and updated every three months for each neighborhood, city and town, approximately two months after the end of the previous quarter. Each quarter, Fannie Mae and Freddie Mac provide their most recent mortgage transactions to the FHFA. These data are combined with the data of the previous 29 years to establish price differentials on properties where more than one mortgage transaction has occurred. These resultant neighborhood appreciation rates are a broad measure of the movement of single-family house prices. The appreciation rates serve as an accurate indicator of house price trends at the neighborhood level. Neighborhood appreciation rates from NeighborhoodScout are based on both median house value data reported by respondents via the U.S.
The average sale price of a home in Sequim was $533K last month, up 20.5% since last year. The average sale price per square foot in Sequim is $328, up 17.1% since last year. McAleer, managing broker for Team McAleer at RE/MAX Prime, and other real estate agents echo a similar sentiment that buyers must be prepared to act quickly and expect multiple offers. Average market rent is exclusively developed by NeighborhoodScout.
