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Real Estate Market Report for Kitsap County WA 04/08/10

I thought I would do something a bit different this month, and show all of the specific MLS zones within our county, rather than just collective county-wide figures.

As you can see, each area is broken down by ‘Active Listings’ (how many homes are currently available for sale), the calculated ‘Months of Inventory’ for each area, how many homes have ‘Sold’ in the past 6 months, the average ‘sales’ price of those homes sold, the average ‘Listing’ price of the homes sold, the ratio % of sales price versus list price, and the average ‘Days On Market.’

Obviously, East Central Kitsap and West Bremerton are still the selling ‘hot spots’ as are Poulsbo, Port Orchard, and South Kitsap West of Hwy 16.

Where the market is heading right now is anybody’s guess. The tax credits courtesy of Uncle Sam for 1st Time Buyers and Repeat Buyers are soon to expire, so there will probably be some spurt of last minute activity for those. The changing season to warmer weather tends to bring out more Buyers and more Sellers as well. Additional short sales and bank-owned properties will continue to have a negative effect on pricing and appraisal valuations.

Whether you’re a Buyer or a Seller, there are opportunities out there. Give me a call and I can help you make better sense of the market, and determine what is your most wise and prudent direction.

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, Everyday CK, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: april 2010, Kitsap County WA, market report, real estate

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for March 2010, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

• Properties currently active on the market:  1775
• Properties closed in the last 180 days:  1339
• Average Sales Price:  $284083
• Average List Price:  $295,292
• Ratio of List Price to Sales Price: 97%
• Average Days on Market: 93
• Sales Pending this Week: 87

Seabeck WA statistics separately: (Area 145)

• Properties currently Active on the market:  70
• Properties closed in last 180 days:  43
• Months of Inventory:  9.77
• Average Sales Price:  $290,041
• Average List Price:  $299,131
• Ratio of List Price to Sales Price: 96%
• Average Days on Market: 91
• Sales Pending this week: 3

For additional area specific market statistics, go to www.KitsapLife.com

WHAT’S HAPPENING IN THE KITSAP COUNTY WA MARKET NOW?

Now that the National Health Care Bill has been passed, perhaps Washington DC can  get back to the task of kick starting our economy and hopefully improving the housing outlook for the near future. Historically, we normally begin to see a slight increase in sales activity as we enter into the Spring season. No doubt the April 30th deadline for the 1st Time Home Buyer’s Tax Credit will encourage some to get off the fence. Rates still continue to hover just below 5% for a 30-year fixed with .75 to 1 points. For more mortgage rate details, go to The Mortgage Porter.

“SONGS FOR A NEW WORLD” AT CSTOCK COMMUNITY THEATER

This coming weekend is your final opportunity to see CSTOCK’s Black Box Young Adult production of “Songs For A New World” directed by students Billy Buhl, Cherisse Martinelli,  and Jessica Rothwell. This amazing show features local teens and young adults ages 13-20. The vocals are powerful and moving, and showcases the tremendous talents of our area young people. For more information, go to CSTOCK.org

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, Everyday CK, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: Kitsap County WA, march 2010, market reports, real estate, seabeck wa real estate, Silverdale WA Real Estate

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for February 2010, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

• Properties currently active on the market:  1730
• Properties closed in the last 180 days:  1358
• Average Sales Price:  $284,294
• Average List Price:  $295,084
• Ratio of List Price to Sales Price: 97%
• Average Days on Market: 94
• Sales Pending this Week: 93

Central Kitsap WA statistics separately: (Area 150)

• Properties currently Active on the market:  144
• Properties closed in last 180 days:  160
• Average Sales Price:  $236,201
• Average List Price:  $238,972
• Ratio of List Price to Sales Price: 99%
• Average Days on Market: 80
• Sales Pending this week: 7

For additional area specific market statistics, go to www.KitsapLife.com

WHAT’S HAPPENING IN THE MARKET NOW?

If I could pick one word to describe the current housing market, it would be ‘uncertainty.’

Most of us would love to believe that things will pick up as we enter the Spring season. Typically, we see a notable overall improvement in both buying and selling of residential properties. But with all the unknowns and instability of our nation’s economy, it’s difficult to accurately predict the direction the market will go in the next month or two.

Short Sales and Foreclosures will obviously continue to impact the market, but to what extent, no one is  sure.

Home prices here in Kitsap County WA, continued to slide in January, adding to the nearly 9% drop we experienced in 2009 over 2008, according to data from the Northwest Multiple Listing Service.

As a comparison, the median sales price of closed homes in January 2010, $224,000, was 4.4 percent less than in January 2008.

Regardless, there continues to be a few exceptions to the rule. There were three north-end communities – Poulsbo, Lofall and Hansville, and two communities in South Kitsap -  Retsil and Manchester – that all enjoyed positive increases in sales prices when compared with the previous month. Close proximity of these communities to ample waterfront was no doubt an influence.

Poulsbo’s median closing price in January was $364,250; Lofall’s $450,000; Hansville’s $429,900; and Retsil and Manchester were at $287,450.

SUBSCRIBE TO MY NEW BLOG ‘EVERYDAY CK’

‘Everyday CK’ – My New Blog on the Kitsap Sun

Just wanted to mention that I was recently afforded the opportunity of joining the team of bloggers on the Kitsap Sun website.

My blog is entitled ‘Everyday CK’ and is geared towards sharing information and encouraging conversations about the Central Kitsap area.

Please take a moment to hop over and subscribe!   ‘Everyday CK‘

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, Everyday CK, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Tags: central kitsap wa real estate, kitsap county wa market report, Kitsap County WA real estate, kitsap peninsula, kitsaplife.com, Silverdale WA Real Estate

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for January 2010, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

• Properties currently active on the market:  1583
• Properties closed in the last 180 days:  1514
• Average Sales Price:  $284,379
• Average List Price:  $294,758
• Ratio of List Price to Sales Price: 97%
• Average Days on Market: 94
• Sales Pending this Week: 50

Bainbridge Island WA statistics separately: (Area 170)

• Properties currently Active on the market:  235
• Properties closed in last 180 days:  153
• Average Sales Price:  $534,999
• Average List Price:  $571,505
• Ratio of List Price to Sales Price: 94%
• Average Days on Market: 94
• Sales Pending this week: 3

For additional area specific market statistics, go to www.KitsapLife.com

WHAT’S HAPPENING NOW?

According to a recent SmartMoney.com article entitled “5 Markets Expected to Fare Best in 2010” both Seattle WA and Tacoma WA were listed. While the writer forecasts a 2.44% increase for the Tacoma market, she predicts that Seattle will continue to slide by half a percent. But that’s obviously a prettier picture than in many other housing markets across the US.

The numbers here in Kitsap County WA continue to slow and flatten out, which is fairly typical for this time of year. What remains to be seen is if the market will show any signs of rebounding in the Spring.

With the extension of the 1st Time Home Buyer Credit and the new Repeat-Buyer Credit, we should begin to see some improvement and increased activity through March and April.

For more information, go to First-Time Home Buyer Tax Credit – The Full Scoop.

‘Everyday CK’ – My New Blog on the Kitsap Sun

Just wanted to mention that I was recently afforded the opportunity of joining the team of bloggers on the Kitsap Sun website.

My blog is entitled ‘Everyday CK’ and is geared towards sharing information and encouraging conversations about the Central Kitsap area.

Please take a moment to hop over and subscribe!   ‘Everyday CK‘

~     o     ~     o     ~     o     ~     o     ~     o     ~

Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, Everyday CK, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Posted in Kitsap Market Reports | 1 Comment »

Tags: bainbridge island wa real estate, january 2010, kitsap county WA real estate market report

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for December 2009, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)

• Properties currently active on the market:  1771
• Properties closed in the last 180 days:  1527
• Average Sales Price:  $287,829
• Average List Price:  $298,147
• Ratio of List Price to Sales Price: 97%
• Average Days on Market: 92
• Sales Pending this Week: 40

West Bremerton WA statistics separately: (Area 148)

• Properties currently Active on the market:  215
• Properties closed in last 180 days:  174
• Average Sales Price:  $194,294
• Average List Price:  $202,626
• Ratio of List Price to Sales Price: 96%
• Average Days on Market: 79
• Sales Pending this week: 7

For additional area specific market statistics, go to www.KitsapLife.com

WHAT’S HAPPENING NOW?

According to a recent Kitsap Sun articlewritten by Business Reporter, Rachel Pritchett, our local real-estate market has slowly slipped into its usual seasonal slowdown, beginning in November.

However, compared to last years figures, we’re certainly in much better condition overall.

Pending sales in November were 36 percent higher than in November 2008. The 267 sales that closed in November, while steady in the short term, was far higher than the 166 that closed in November 2008.

As I had shared in a previous post, the popular $8000 1st-Time Home Buyers Tax Credit was officially extended by members of Congress, along with some similar tax credits for Repeat Home Buyers.

For more information, go to First-Time Home Buyer Tax Credit – The Full Scoop.

Local Business Review: “The Aloha Kitchen”

All I can say is it’s about time!’  Finally, a decent ‘Da Kine’ plate lunch comes to Kitsap County WA with the opening of  The Aloha Kitchen!

I’m a HUGE fan of good Teriyaki, but I’ve missed the traditional plate lunch you can only seem to find on the Islands. My favorite used to be The Kim Chee II over in Kaimuki on Oahu. Now, I don’t have to drive so far!

With most traditional plate lunches, you get 2 scoops of rice, macaroni salad, and whatever main dish/entree your Hawaiian heart desires!

On my first visit, I got the Kalbi Ribs. The food was great, the service Island-friendly! The only thing missing was shaved ice!

Make sure for your next business lunch or dinner date, to head over to The Aloha Kitchen and experience true Ohana!

The Aloha Kitchen – 10516 Silverdale Way, Silverdale WA 98383

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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

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Posted in Kitsap Market Reports | 4 Comments »

Tags: $8000 1st time home buyers tax credit, aloha kitchen, december 2009, kitsap county wa market report, kitsap county wa restaurants, repeat buyers tax credit, Silverdale WA Real Estate