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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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