Kitsap County home prices keep rising

Homes in Kitsap County sold for more last month than at any time in the past three years.

The median price for houses and condominiums sold in May was $265,000, a 15 percent gain from May 2014, according to numbers released Thursday by Northwest Multiple Listing Service. The May median price actually topped last year’s peak of $255,050, recorded in July.

The median price for a home on Bainbridge Island was $618,500 in May. West Bremerton remained the county’s most affordable enclave, with a median price of $142,500.

Here’s a graphical look at price trends in the county:

While prices kept climbing, pending sales (554) and closed sales (353) essentially leveled off between April and May.

The inventory of available homes remained low (about 28 percent lower than a year ago) but showed signs of improvement. The number of active listings climbed from 840 in April to 950 in May, marking the first noteworthy gain since August of last year.

The months supply of homes — the number of months it would take to sell off all available homes if no new properties were listed — jumped to 2.69. For comparison, King County’s reported a 1.2 months supply of homes. 

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