Beach NotesReal EstateWestportMike December 31, 2014

Happy New Year with a 2015 Snapshot

Looking back, the market here on the beach for 2014 was a marked improvement over the previous years in most ways. Prices either inched up or stabilized in each segment of our market with decent availability for buyers and stable sales for sellers. Lending practices at least didn't get worse and in many cases became more streamlined and predictable. Appraisals came in favorably in most cases with adequate comparables (always a challenge in our small market).

Here is a LINK to a 2015 forecast from KIRO Radio's Tom Kelly for the Puget Sound region. Our own coastal market is tied to the rise and fall of values in the urban areas with a slight delay in response to changes in either direction. I look forward to the coming year and to meeting you at the beach soon!