Kitsap County WA Market Report for May 2007
May 16th, 2007 by Rich Jacobson
(picture is the view from my listing on Mt. Washington Court in Union, WA, on Hood Canal. MLS# 27079936)
Real Estate Market Report/Conditions for Kitsap County WA for 04/01/2007
The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA.
- Properties currently active on the market: 1695
- Properties closed in the last 180 days: 1508
- Average Sales Price: $300,851
- Average List Price: $306,878
- Ratio of List Price to Sales Price: 98%
- Average Days on Market: 90 days
- Sales Pending this Week: 73
The ”Way We Were”comparative snapshot:
- Active Listings: 2006 - 983; 2007 - 1695
- Days on Market: 2006 - 61; 2007 - 90
- Absorption Rate: 2006 - 17; 2007 - 23
- LP/SP Ratio: 2006 - 99; 2007 - 98%
- Closed Sales last 6 months: 2006 - 1744; 2007 - 1508
Current Market Conditions: It’s an interesting market right now. As is typical for this time of year, activity has picked up. Many Sellers are planning their relocations for right after the end of the school year. Depending on the specific area and price range, our market can be both a ‘Sellers’ or a ’Buyers’ market.
Quadrant Homes, a popular builder here in the Seattle area since 1969, has two large developments on the Kitsap Peninsula: Stendahl Ridge in Poulsbo, and The Ridge at McCormick Woods in Port Orchard. Carsten Rode, Community Sales Manager for The Ridge, and fellow Windermere agent, boasts of over 100 homes currently under contract in their developments, with prices ranging from the mid $250’s to the mid $260’s.
If you have a specific area of interest, whether as a Buyer or Seller, just drop me a quick note, and I would be glad to give you more specific data/information relevant to that area.
[...] OK OK I am letting the secret out. There is a reason people are flocking to the Pacific Northwest. This photo on Soundbite blog was too much too resist. [...]
I am curious about your opinion regarding if Quadrant will actually fill their two deveopments.
Given how rapidly housing markets have turned in other areas of the country, do you think this may happen here?
Does our “specialness” trump economic realities, or are we just like every other market?
Hi Guys,
Some of your report was showcased here:
http://www.kitsapsun.com/news/2007/jun/09/most-sellers-missing-out-on-trend-toward-higher/
Did you see it? Congrats!
Lisa