Kitsap County Real Estate Market Report for September 2007
September 10th, 2007 by Rich JacobsonReal Estate Market Report/Conditions in Kitsap County WA for 09/02/2007
The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington for September 2007, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (excludes Bainbridge Island).
- Properties currently active on the market: 2158
- Properties closed in the last 180 days: 1749
- Average Sales Price: $312,461
- Average List Price: $342,534
- Ratio of List Price to Sales Price: 96%
- Average Days on Market: 87
- Sales Pending this Week: 45
Current Market Conditions: The highest ratio of List Price vs. Sale Price was 101% for Area 141 (South Kitsap West of Hwy. 16). The lowest ratio was 73% for Area 168 (Indianola). Shortest Days on Market (DOM) was Area 150 (E. Central Kitsap) with 59 DOM. Area 146 (Chico) was 2nd at 67. Longest DOM goes to Area 163 (Port Gamble) with 149, and 2nd longest is Area 162 (Kingston) with 105. Overall inventory dropped slightly, and sales increased as well. Certainly a more optimistic indication that the market may be stabilizing somewhat.
For Buyers: Now is still a great time to consider purchasing a home, especially for 1st Time Home Buyers. The current rate this morning for a 30-year Fixed Rate loan is just over 6% just under 6.00%! (edited by Mark) With the number of available homes on the market, Buyers have more choices and greater negotiating room.
For Sellers: Make sure that you’re priced aggressively and that you and your Listing Agent are working closely together as a team, doing everything you can to position your home Head & Shoulders above the competition.
Two of my most recent listings are both great values! A lovingly remodeled Turn-of-the-Century Charmer by Island Lake (13110 Lakeview Avenue in Poulsbo), and a stunning Craftsman Puget Sound View home (22829 Jefferson Point Rd. in Kingston). Call (360) 440-4758 for more details or to arrange a private showing!
For additional information and resources concerning real estate and living in Kitsap County, Washington, access my comprehensive website, www.KitsapLife.com.
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Hey, Chuck! Thanks for stoppin’ by SBB. I have debated including the numbers for BI in the past. Perhaps I’ll simply do a seperate section just for Island stats? When I include them in with our stats, it really affects our overall numbers drastically. Thanks for the input!
Great data, wish you did it for the island too. Good market for buyers over here as well, especially in waterfront between $1.3 and $2.2 million