Ocean Shores and North Beach Newsletter for Real Estate, Events, News ~ 2015 Year-End Review
2015 Year-End Review
Ocean Shores/North Beach
Newsletter
Presented by April Swenson,
CRS & Managing Broker for Coldwell Banker Ocean Shores Brokers Real Estate
aswenson25@juno.com 360-589-2777 cell/text www.OceanShoresInfo.com
Ocean Shores/North Beach
Newsletter
Presented by April Swenson,
CRS & Managing Broker for Coldwell Banker Ocean Shores Brokers Real Estate
aswenson25@juno.com 360-589-2777 cell/text www.OceanShoresInfo.com
NOTABLE NEWS and EVENTS
CHRISTMAS 2015
Christmas Eve and Christmas Day were beautiful days. Check out my pictures and the video I took on Christmas Day on my web site at www.OceanShoresInfo.com/pics/christmas2015.html.
NEW PICTURES and YOUTUBE VIDEOS UPLOADED
Click on the following links to see my new pictures on my web site (www.OceanShoresInfo.com) and my new videos uploaded onto my YouTube site (http://www.youtube.com/AprilSwenson):
- Christmas 2015:Pictures & Info: www.OceanShoresInfo.com/pics/christmas2015.html
YouTube Video: https://www.youtube.com/watch?v=ZMurh6QLnOA&list=FLhRYWR0DBndaEDmu0zNpztQ
OTHER NOTABLE LOCAL NEWS
- Storm protection and erosion prevention work is currently being completed by installing a huge rock bulkhead along the Ocean front properties located down by the Jetty.
- New Business Opened: Medical Supply Store ~ 683 Pt Brown Ave NW.
- Oyhut Bay Subdivision is under construction with homes and condos.
- RANKING REPORTS: I was #9 among all Grays Harbor County brokers for the Number (#) of Transactions Closed for 2015. I was #7 among all Ocean Shores brokers for the Number (#) of Transactions Closed for 2015. I was #4 among all Grays Harbor County brokers for the Number (#) of Vacant Land Closed for 2015.
UPCOMING EVENTS
- January 15th-17th ~ A Pirates Life For Us: local pirate association gather for entertainment and merriment.
- February 12th-14th ~ Antique & Collectibles Show: held at the Convention Center.
- March 5th-6th ~ Beachcombers' Fun Fair: held at the Convention Center.
- March 18th-20th ~ Razor Clam Festival & Seafood Extravaganza: held at the Convention Center.
- March 20th ~ Dugan's Run: running event.
- April 22nd-24th ~ Fine Arts, Photo, & Electronic Media Show: art show held at the Convention Center.
- May 7th-8th ~ Shoppin' at the Shore: a Mother's Day Event held at the Convention Center.
BUYS IN OCEAN SHORES
Click on the following links to view the MLS flyers for some good deals on properties in Ocean Shores:
2015 MARKET ACTIVITY/UPDATE
(January 1st-December 31st)
We have done incredibly well from in 2015. We have some very positive numbers:
- # of Homes Sold in Ocean Shores increased from 198 in 2013 to 245 in 2014 to 306 in 2015
- Median Sales Price for Homes increased from $139,900 in 2013 to $143,900 in 2014 to $159,950 in 2015
- Sold Volume for Homes increased from $29.16M in 2013 to $37.35M in 2014 to $53.06M in 2015
- # of Land Sold in Ocean Shores increased from 169 in 2013 to 190 in 2014 to 263 in 2015
- # of Total Properties Sold in Ocean Shores rose from 391 in 2013 to 464 in 2014 to 612 in 2015
- Total Sold Volume in Ocean Shores rose from $36.577M in 2013 to $45.6M in 2014 to $66.86M in 2015
The numbers below show that Ocean Shores is still one of the leaders for affordability, availability and productivity (# of properties and volume closed) compared to the other beach towns along the Washington Coast. Ocean Shores also offers a lot more availability and affordability for building lots and homes.
OCEAN SHORES MARKET:
Click on the following links to view the MLS flyers for sold properties (4th-Quarter of 2015):
Sold Homes
Sold Lots
Sold Condos
Sold Multi-Family
Sold Homes
Sold Lots
Sold Condos
Sold Multi-Family
2015 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings (as of 12/31/15) | 137 | 608 | 49 | 3 | 10 | 807 |
| Pendings | 28 | 7 | 7 | 1 | 1 | 44 |
| Solds | 306 | 263 | 33 | 3 | 7 | 612 |
| Sold Volume | $53.06M | $6.11M | $4.22M | $780K | $2.69M | $66.86M |
| Sold Median Price | $159,950 | $14K | $130K | $240K | $150K | |
| Avg. Days on Market (solds) | 190 | 359 | 162 | 163 | 336 |
VS.
2014 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings (as of 12/31/14) | 195 | 552 | 28 | 6 | 14 | 795 |
| Pendings | 19 | 12 | 3 | 0 | 1 | 35 |
| Solds | 245 | 190 | 17 | 4 | 8 | 464 |
| Sold Volume | $37.35M | $3.796M | $1.44M | $812,500 | $2.203M | $45.6M |
| Sold Median Price | $143,900 | $12,700 | $85K | $210K | $167,500 | |
| Avg. Days on Market (solds) | 230 | 279 | 246 | 104 | 288 |
2nd-Half 2015
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 158 | 125 | 26 | 1 | 3 | 313 |
| Sold Volume | $28.64M | $3.1M | $3.65M | $110K | $902K | $36.402M |
| Sold Median Price | $165,950 | $16,250 | $141,475 | $110K | $185K | |
| Avg. Days on Market (solds) | 168 | 367 | 92 | 98 | 467 |
VS.
2nd-Half 2014
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 129 | 112 | 11 | 4 | 2 | 258 |
| Sold Volume | $20.03M | $1.94M | $978,400 | $812,500 | $1.278M | $25.039M |
| Sold Median Price | $144K | $12K | $99K | $210K | $639K | |
| Avg. Days on Market (solds) | 200 | 265 | 293 | 104 | 388 |
4th-Quarter 2015
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 65 | 50 | 14 | 1 | 0 | 130 |
| Sold Volume | $13.24M | $1.15M | $1.97M | $110K | $0 | $16.47M |
| Sold Median Price | $182K | $20K | $141,475 | $110K | N/A | |
| Avg. Days on Market (solds) | 180 | 394 | 105 | 98 | N/A |
VS.
4th-Quarter 2014
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 53 | 43 | 7 | 1 | 2 | 106 |
| Sold Volume | $9.19M | $815,265 | $469,500 | $182,500 | $1.278M | $11.935M |
| Sold Median Price | $159,900 | $12,500 | $47K | $182,500 | $639K | |
| Avg. Days on Market (solds) | 197 | 276 | 259 | 373 | 388 |
NORTH BEACH (Ocean City to Moclips) MARKET:
Click on the following links to view the MLS flyers for sold properties (4th-Quarter of 2015):
Sold Homes
Sold Land
Sold Homes
Sold Land
2015 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings (as of 12/31/15) | 44 | 115 | 2 | 2 | 7 | 170 |
| Pendings | 6 | 7 | 0 | 0 | 0 | 13 |
| Solds | 42 | 38 | 0 | 0 | 1 | 81 |
| Sold Volume | $9.97M | $2.4M | $0 | $0 | $200K | $12.57M |
| Sold Median Price | $155K | $21,500 | N/A | N/A | $200K | |
| Avg. Days on Market (solds) | 302 | 334 | N/A | N/A | 63 |
VS.
2014 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings (as of 12/31/14) | 58 | 160 | 1 | 0 | 1 | 220 |
| Pendings | 3 | 4 | 0 | 0 | 0 | 7 |
| Solds | 33 | 13 | 0 | 0 | 0 | 46 |
| Sold Volume | $10.19M | $337,400 | $0 | $0 | $0 | $10.527M |
| Sold Median Price | $304,500 | $19K | N/A | N/A | N/A | |
| Avg. Days on Market (solds) | 241 | 315 | N/A | N/A | N/A |
2nd-Half 2015
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 27 | 18 | 0 | 0 | 1 | 46 |
| Sold Volume | $6.608M | $1.167M | $0K | $0K | $200K | $7.975M |
| Sold Median Price | $182K | $17,450 | N/A | N/A | $200K | |
| Avg. Days on Market (solds) | 283 | 387 | N/A | N/A | 63 |
VS.
2nd-Half 2014
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 17 | 9 | 0 | 0 | 0 | 26 |
| Sold Volume | $5.263M | $253,900 | $0K | $0K | $0K | $5.517M |
| Sold Median Price | $290K | $19K | N/A | N/A | N/A | |
| Avg. Days on Market (solds) | 202 | 361 | N/A | N/A | N/A |
4th-Quarter 2015
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 13 | 11 | 0 | 0 | 1 | 25 |
| Sold Volume | $3.722M | $1.147M | $0 | $0K | $200K | $5.069M |
| Sold Median Price | $185K | $29K | N/A | N/A | $200K | |
| Avg. Days on Market (solds) | 271 | 408 | N/A | N/A | 63 |
VS.
4th-Quarter 2014
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Solds | 11 | 4 | 0 | 0 | 0 | 15 |
| Sold Volume | $3.4M | $175,900 | $0 | $0K | $0K | $3.576M |
| Sold Median Price | $290K | $24K | N/A | N/A | N/A | |
| Avg. Days on Market (solds) | 195 | 306 | N/A | N/A | N/A |
SOUTH BEACH (Westport/Grayland/Ocosta) MARKET:
2015 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings | 44 | 50 | 12 | 3 | 11 | 120 |
| Pendings | 8 | 2 | 1 | 0 | 2 | 13 |
| Solds | 71 | 39 | 16 | 4 | 6 | 136 |
| Sold Volume | $10.602M | $4.929M | $2.296M | $523,400 | $2.206M | $20.556M |
| Sold Median Price | $132K | $44K | $147,500 |
$142,550
| $225K | |
| Avg. Days on Market (solds) | 212 | 377 | 199 | 20 | 210 |
2014 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings | 62 | 74 | 13 | 2 | 15 | 166 |
| Pendings | 5 | 2 | 0 | 1 | 0 | 8 |
| Solds | 70 | 20 | 19 | 1 | 1 | 111 |
| Sold Volume | $9.076M | $826,300 | $2.486M | $99K | $5.955M | $18.44M |
| Sold Median Price | $130K | $25K | $145K | $99K | $117,750 | |
| Avg. Days on Market (solds) | 178 | 276 | 105 | 25 | 145 |
LONG BEACH PENINSULA (Ilwaco to Surfside Estates) MARKET:
2015 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings | 141 | 179 | 15 | 0 | 20 | 355 |
| Pendings | 40 | 12 | 1 | 0 | 0 | 53 |
| Solds | 346 | 122 | 36 | 2 | 3 | 509 |
| Sold Volume | $58.26M | $6.61M | $4.44M | $403K | $640K | $70.353M |
| Sold Median Price | $149,900 | $32K | $103,250 | $201,500 | $245K | |
| Avg. Days on Market (solds) | 194 | 307 | 238 | 47 | 446 |
VS.
2014 Year-End
|
Homes
|
Land
|
Condos
|
Multi-
Family |
Commercial
|
Total
|
| Current Listings | 218 | 251 | 31 | 4 | 25 | 529 |
| Pendings | 21 | 5 | 2 | 0 | 0 | 28 |
| Solds | 261 | 111 | 27 | 1 | 5 | 405 |
| Sold Volume | $41.77M | $3.947M | $2.16M | $89,950 | $557K | $48.524M |
| Sold Median Price | $140K | $26K | $80K | $89,950 | $150K | |
| Avg. Days on Market (solds) | 203 | 287 | 672 | 308 | 308 |
NOTE: All of the above data was pulled from the NWMLS and is not guaranteed.
FINANCING NEWS
MORTGAGE NEWS
The following are some of the Federal loan changes that have gone into effect (most in October 2015):
- Fannie Mae (FNMA) and Freddie Mac (FHLMC) now guarantee loans with as little as 3% down.
- Borrowers in 2015 will have to comply with the 2014 “Qualified Mortgage” (QM) Rule requiring that no more than 43% of their gross monthly income can go toward their minimum monthly payment on all debt, including house payments. Previously, lenders determined the maximum debt-to-income ratios, some setting the limit as high as 60%.
- The Qualified Residential Mortgage (QRM) Rule -- as long as a loan meets the Qualified Mortgage (QM) standards, the lenders can sell their loans to investors and not keep the debt on their books. If a loan does not meet the QM standards, then the lenders have to keep 5% of the mortgage amounts on their books for at least 5 years.
- The Good Faith Estimate is now combined with the Truth in Lending (TIL) Disclosure and is now called the "Loan Estimate." The HUD-1 Settlement Statement is combined with the Final TIL and is now called the "Closing Disclosure." Perhaps the greatest change is that this "Closing Disclosure" must be in the hands of the Buyer/Borrower 3 days before closing.
The items above were obtained form different news online sources, such as the Association of Realtors.
Interest rates are still very low at around 3.875%-4% with 0 points (depending on credit and down payment). Funding is available through FHA, VA, USDA and Conventional Loans to buy primary and secondary/vacation homes in Ocean Shores and the North Beach.
For more help on getting pre-approved/qualified, contact our local lender, The Bank of the Pacific....Desiree Goodwin, the Residential Loan Officer, at 360-500-4003, or e-mail her at dgoodwin@bankofthepacific.com. You can also contact Saul Schiffner at Wallick & Volk Mortgage Brokers in Bellevue at 425-422-6333, or e-mail him at saul.schiffner@wvmb.com. Or, contact Lee Hauser at Wells Fargo Aberdeen at 360-537-7307 or e-mail her at lee.hauser@wellsfargo.com.
If you ever have any questions about Area Information and Real Estate in Ocean Shores and the North Beach, please do not hesitate to call or e-mail me.
~ April Swenson
aswenson25@juno.com
360-589-2777 (cell/text)
~ April Swenson
aswenson25@juno.com
360-589-2777 (cell/text)
Your Beach Destination Awaits You at the #1 Washington Coast Town!
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