The Hood Canal housing market is different than the North Bay/Grapeview/Pickering area. Hood Canal homes are smaller, closer together and turn over more frequently. We sell more of them – 39 last year. That’s down from the previous year, but fewer listings went unsold. Simply put, we had less inventory in 2018 but did more with it.
On North Bay/Grapeview/Pickering, where houses and lots are larger, the same pattern was true – less inventory in 2018 but they sold better. The odds of selling one of these houses increased from 55% to 68% – fewer properties went unsold. This is the pattern I saw over all South Sound beaches – fewer houses to sell but the odds of selling were better.
Why do so many listings cancel or not sell?
As I mentioned last year, too many waterfront listings expired, were cancelled, or did not sell. It’s terrible. 30-40% of homes listed on Mason County salt waterfront property go unsold. It’s among the worst unsold stats in the state. I believe the problem is too many out-of-area brokers. With fewer homes for sale in Seattle, Tacoma, and other areas, new brokers ventured out of their territories and listed out-of-area properties rather than partnering with a local broker. I believe distance and not knowing the area contributed to these failures.
Local brokers see more area properties, they know what sells and why. They hold Open Houses so other local brokers can see the new listings. They get together and talk about the homes. They know what is important to local buyers and how to write their MLS descriptions. They are there to turn off lights, pick up business cards, and keep brochures in the box. They show homes on short notice and do the work that is difficult to accomplish for someone who is 50 miles or more away.
Belfair brokers know best
Selling a waterfront home in Mason County is not like selling a normal residence. The buyer is often looking to vacation here, not live here. That means a different marketing approach. It takes experience and knowledge and there are many qualified waterfront brokers in Belfair from which to choose. Obviously I’m partial and feel Windermere is better equipped to effectively market local waterfront properties but you be the judge. My marketing strategy includes creating single-property websites, running social media advertising, and using drone photography, to name a few. It’s not the only answer but has been very successful for me and my clients.
When you see an out-of-area sign in front of a home without any brochures in the box, that’s a lost opportunity. If you were in the market right now to buy such a house, this house could lose out. Call a local broker when you are selling your home or have your home town realtor partner with a local broker. All real estate is regional and Belfair brokers know best.