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Archive for Kitsap Market Reports

Kitsap County Real Estate Market Report for October 2008

October 8, 2008 at 1:05 am · Filed under Bainbridge Island Real Estate, Bremerton WA Real Estate, Gig Harbor Real Estate, Kitsap Market Reports, Port Orchard Real Estate, Poulsbo Real Estate, Silverdale WA Real Estate, Sparks from Sparky

Real Estate Market Report/Conditions in Kitsap County WA for 10/07/2008

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for October 2008, provided by Rich Jacobson of Realty Executives Brio, in Silverdale, WA (this includes data for Bainbridge Island WA)

  • Properties currently active on the market:  2599
  • Properties closed in the last 180 days:  1386
  • Average Sales Price:  $327,432
  • Average List Price:  $338,006
  • Ratio of List Price to Sales Price:  94%
  • Average Days on Market:  101
  • Sales Pending this Week:  13

crabbing-on-Hood-Canal-WA

Current Market Conditions: Area 150 (East Central Kitsap) and Area 166 (Poulsbo) share the highest ratio of List Price vs. Sale Price with 99%.  The lowest ratio was 93% for Area 161 (Hansville). Shortest Days on Market (DOM) was Area 149 (East Bremerton) at 74, and Area 166 (Poulsbo) coming in 2nd with 79. Longest DOM goes to Area 168 (Indianola) with 150, followed by Area 167 (Suquamish) at 126.

 

 

 

 

Bainbridge Island Stats separately: (Area 170)

  • Properties currently Active on the market:  367
  • Properties closed in last 180 days:  137
  • Average Sales Price:  $697,159
  • Average List Price:  $738,505
  • Ratio of List Price to Sales Price:  94%
  • Average Days on Market:  105
  • Sales Pending this week:  0

According to a recent Kitsap Sun news article, home prices have dropped by 18% when compared to this time last year. However, pending sales experienced a very sharp 31% increase in the month of September, but don’t expect that to be as robust as we head into the Winter months.

For Buyers: While current market conditions obviously favor Buyers, obtaining loan approval can have its challenges. Meet with an experienced local Loan Officer first, to verify that buying a home is within your budget, and ensure that you qualify.

For Sellers: Sellers must be prepared to ‘pull out all the stops’ to be successful in selling their homes. You must be priced aggressively and prepare the house to show well. Consider incentives, like a Buyers Home Warranty plan. Consult with your Listing Agent to determine ways to make your home stand out from the crowd.

For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life.

Comments (1)

Kitsap County WA Market Report for December 2007

December 7, 2007 at 11:35 am · Filed under Bainbridge Island Real Estate, Bites of Kitsap, Bremerton WA Real Estate, Buyers, Gig Harbor Real Estate, Kitsap Market Reports, Mortgage Bites, Port Orchard Real Estate, Poulsbo Real Estate, Real Estate Bites, Sellers, Silverdale WA Real Estate, Sparks from Sparky

The Rich ReportReal Estate Market Report/Conditions in Kitsap County WA for 12/06/2007

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for December 2007, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (Data for Bainbridge Island WA is included below)

  • Properties currently active on the market: 1989
  • Properties closed in the last 180 days: 1561
  • Average Sales Price: $335,174
  • Average List Price: $342,303
  • Ratio of List Price to Sales Price: 98%
  • Average Days on Market: 88
  • Sales Pending this Week: 35

O Christmas TreeCurrent Market Conditions: Area 141 (South Kitsap West of Hwy. 16) still has the highest ratio of List Price vs. Sale Price with 102%.  The lowest ratio was 95% for Area 161 (Hansville). Shortest Days on Market (DOM) was Area 166 (Poulsbo) at 63, and Area 150 (E. Central Kitsap) coming in 2nd with 69. Longest DOM goes to Area 163 (Port Gamble) with 133, followed by Area 161 (Hansville) at 106. Inventory levels dropped by nearly 10%, with many Sellers electing to remove their homes from market over the Christmas Holidays. Overall, prices continue to hold fairly steady, as do the days on market.

 

Let it Snow!

Bainbridge Island Stats: (Area 170)

  • Properties currently Active on the market: 288
  • Properties closed in last 180 days: 235
  • Average Sales Price: $ 732,699
  • Average List Price: $ 754,554
  • Ratio of List Price to Sales Price: 97%
  • Average Days on Market: 125
  • Sales Pending this week: 6

For Buyers:  There is no better time than ‘NOW’ to consider purchasing a home here in Kitsap County WA. Be sure to work very closely with your Mortgage Loan Officer throughout all stages of the transaction. Loan programs are changing constantly, and underwriters are imposing more and more conditions. A good Loan Officer will stay on top of these issues, and help to keep your loan process moving along smoothly.

For Sellers: Many Sellers are waiting until the market picks up again in the early Spring to put their home up for sale. You may want to consider an earlier launch date (early January) to give yourself a ‘jump’ on the competition.

For 1st Time Buyers:  You might want to consider one of my listings, the Gorman Condominiums, near beautiful Kitsap Lake in Bremerton WA. For only $ 129,950 your dream of home ownership can come true!

For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life.

 

Comments (2)