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Kitsap County WA Real Estate Market Report for April 2010

April 8th, 2010 by Rich Jacobson

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

Kitsap County Market Report for April 8, 2010
Id Area Active
Listings		 Mos
of
Inv		 Sold
(6 mo)		 Avg
Sales
Price		 Avg
List
Price		 Sales/
List
Ratio		 Days
on
Market
141 South Kitsap-W of Hwy 16 163 7.64 128 258,655 265,126 97.56 92
142 South Kitsap-E of Hwy 16 148 10.33 86 290,299 298,284 97.32 86
143 Port Orchard 116 6.69 104 196,109 198,927 98.58 81
144 Retsil/Manchester 121 11.17 65 222,285 229,698 96.77 90
145 Seabeck/Holly 77 11.85 39 269,393 278,721 96.65 99
146 Chico 31 8.86 21 320,861 333,793 96.13 119
147 Silverdale 93 9.00 62 303,215 312,490 97.03 94
148 West Bremerton 212 8.37 152 165,991 170,959 97.09 65
149 East Bremerton 114 7.60 90 203,825 208,955 97.54 101
150 East Central Kitsap 145 6.26 139 232,311 234,177 99.20 81
161 Hansville 42 10.96 23 276,830 289,260 95.70 103
162 Kingston 72 8.15 53 313,293 327,593 95.63 101
163 Port Gamble 16 7.38 13 246,369 256,850 95.92 72
164 Lofall 26 6.24 25 300,294 314,386 95.52 57
165 Finn Hill 70 10.00 42 308,430 317,033 97.29 93
166 Poulsbo 102 6.06 101 289,900 296,580 97.75 79
167 Suquamish 41 7.69 32 250,603 260,245 96.30 73
168 Indianola 25 8.82 17 311,206 324,685 95.85 88
170 Bainbridge Island 256 11.05 139 594,297 643,094 92.41 159

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.

~     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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Kitsap County WA Real Estate Market Report – August 2009

August 17th, 2009 by Rich Jacobson

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

  • Properties currently active on the market:  2064
  • Properties closed in the last 180 days:  1261
  • Average Sales Price:  $296,912
  • Average List Price:  $309,393
  • Ratio of List Price to Sales Price: 96%
  • Average Days on Market: 99
  • Sales Pending this Week: 12

Silverdale WA statistics separately: (Area 147)

  • Properties currently Active on the market:  81
  • Properties closed in last 180 days:  87
  • Average Sales Price:  $299,996
  • Average List Price:  $309,318
  • Ratio of List Price to Sales Price: 97%
  • Average Days on Market: 102
  • Sales Pending this week: 10

short-sales-are-anything-but-shortWHAT’S HAPPENING NOW?

It’s been a fairly busy Summer season for me here in Kitsap County WA as qualified Buyers continue to take advantage of the slower market, low mortgage rates, greater Seller-offered incentives, and Federal programs like the $8000 1st Time-Buyer’s Tax Credit (possibly being extended into 2010).

The real challenge has been for Listing Agents and Sellers to effectively compete against Short Sales and Foreclosures. While traditional properties aren’t subject to the myriad of frustrating and time-consuming hoop jumping normally required by Short Sales and Foreclosures, Sellers must still overcome the usual disparity in pricing. This demands that Sellers spend more time and energy effectively preparing their home for market,  ensuring greater attraction/appeal to potential Buyers. It also necessitates that they price their homes more aggressively right from the onset. Greater demands and expectations are placed upon the Listing Agents to generate maximum marketing exposure for their home, leveraging the power of the Internet to its fullest extent possible.

WHY MOVE TO THE KITSAP PENINSULA?

There are many reasons why home-buyers are drawn to Kitsap County WA: the pace of life is a lot slower and less hectic; we have some of the highest rated public schools in the State; we’re surrounded by the scenic/recreational waterways of the Puget Sound. A recent study by US News & World Report named the Silverdale/Bremerton WA area as being the Top US Housing Growth Market for the next 10 years.

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

~     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 and Crabbing in the Hood, or e-mail:  kitsapagent@gmail.com

Posted in Kitsap Market Reports | 1 Comment »

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Kitsap County WA Real Estate Market Report for December 2008

December 4th, 2008 by Rich Jacobson

Real Estate Market Report/Conditions in Kitsap County WA for 12/01/2008 The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for December 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: 2391
  • Properties closed in the last 180 days: 1312
  • Average Sales Price: $308,770
  • Average List Price: $329,896
  • Ratio of List Price to Sales Price: 94%
  • Average Days on Market: 103
  • Sales Pending this Week: 8

Current Market Conditions: As is typical for our market, homes sales for Kitsap County WA have slowed as we head into the Christmas Holidays. Even though we’re not as susceptible to seasonal influences as most markets, we still experience a noticible decline in activity until just after the 1st of the New Year. With only 8 pending sales for the entire county this week, there really isn’t a candidate for ‘Hot Spot.’ However, Area 150 (East Central Kitsap) continues to lead the pack here in Kitsap County WA with 151 properties sold in the past 6 months. Compared to Area 163 (Gamblewood) which has only posted sales for 7 properties in the same period. Area 166 (Poulsbo) maintains the highest Listing Price-to-Sales Price ratio (99%), and the lowest DOM (Days on Market) with 79. Bainbridge Island Stats separately: (Area 170)

  • Properties currently Active on the market: 329
  • Properties closed in last 180 days: 127
  • Average Sales Price: $657,890
  • Average List Price: $703,298
  • Ratio of List Price to Sales Price: 94%
  • Average Days on Market: 109
  • Sales Pending this week: 2

Advice for Sellers: Given our current economic conditions, my recommendation for Sellers would be to hold off on marketing your home right now, if possible, and wait until late February or early March. If circumstances demand that you list your home now, make sure that your Listing Agent provides you with a very thorough marketing plan that includes maximum, strategic Internet exposure. Work closely with your Agent to determine what tasks need to be performed in order for your home to show well, and stand out from among other comparable properties. Don’t be tempted to test the market, but price your home aggressively. Advice for Buyers: If you’re fully pre-approved by a reputable local lender, then you are in good position to take advantage of the current market dynamics. Take your time. In most areas you will have many homes to choose from. Be patient to find the deal that makes the most sense. For Active-Duty military buyers, a home purchase may not be the best strategy if your orders are for less than 3 years. Consult with your Agent and Lender to determine what decisions are most wise and prudent for your future plans and budget. For more additional information and resources concerning real estate in Kitsap County WA and the Western Puget Sound, access my website, Kitsap Life .

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Kitsap County WA Real Estate Market Report for November 2008

November 26th, 2008 by Rich Jacobson

Real Estate Market Report/Conditions in Kitsap County WA for 11/17/2008

The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for November 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:  2455
  • Properties closed in the last 180 days:  1357
  • Average Sales Price:  $318,608
  • Average List Price:  $329,358
  • Ratio of List Price to Sales Price:  97%
  • Average Days on Market:  102
  • Sales Pending this Week: 24

Current Market Conditions: Area 150 (East Central Kitsap) continues to be the selling ‘Hot Spot’ here in Kitsap County WA with 6 properties pending this week, and DOM (Days on Market) at 89. Port Orchard (Area 143) had the longest DOM at 152.  The lowest Listing Price to Sales Price ratio  was 92% for Area 161 (Hansville).

Bainbridge Island Stats separately: (Area 170)

  • Properties currently Active on the market:  338
  • Properties closed in last 180 days:  123
  • Average Sales Price:  $671,303
  • Average List Price:  $716,862
  • Ratio of List Price to Sales Price:  94%
  • Average Days on Market:  101
  • Sales Pending this week: 2

In a recent Kitsap Sun news article submitted by Rachel Pritchett, home values in Kitsap County WA have been estimated to have fallen 12 percent since the Spring of 2007, and are now back down at 2005 levels, according to Seattle-based company Zillow.com, which calculates its home values based on median price, tax assessments, physical characteristics of the house, and comparable sales.

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

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