Real estate: Prices up, inventory down in January

New year, same tight real estate market.

The key real estate trends of 2015 carried through January, according to numbers released last week by Northwest Multiple Listing Service.

Inventory? Still low. There were 587 active listings in the county last month, compared with 843 in January 2015.

Prices? Still rising. The median price for houses and condominiums was about $265,000 in January, a jump of nearly 18 percent from the start of 2015. The median price for houses, excluding condos, was up 15 percent.

Prices were buoyed by sales on Bainbridge Island, where 19 homes sold with a median price of $690,000.

Sales? Still strong. Pending and closed sales were both higher last month than in January 2015, up 5.7 percent and 7.6 percent respectively.

Kitsap bucked a sales trend in January, as an inventory shortage drove down sales across much of the state. King County saw a 14.5 percent drop in pending sales from the previous year.

Here’s a graphical look at real estate statistics in Kitsap County in January:

And here’s a map showing statistics by local MLS area. Hover your mouse over the map to see details:

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