Real estate update: More homes came on the market in April

ferncliff01_23090926_ver1.0_640_480Kitsap’s depleted inventory of homes for sale received a much needed injection of new listings in April.

A total of 568 new listings were added last month, 71 more than were added in April 2015, according to Northwest Multiple Listing Service. The influx raised the total number of active listings from 566 in March to 655 in April.

0411_KitsapIndicator_MonthsSupply_KSThough surely welcome, the added listings did little to ease the tight market.

The inventory of available homes remained 22 percent lower than in April 2015, and 56 percent lower than in April 2012.

Sales were steady last month, with 584 transactions pending, up 5 percent from the previous year. The county’s median home price hovered at $270,000, up 7 percent year-over-year.

The months supply of homes (the number of months it would take to sell off all the homes for sale if no new listings were added) eased slightly to 1.83 months.

A market is generally considered balanced when it has a supply of four to six months. Kitsap’s market still strongly favors sellers.

Here’s a graphical look at Kitsap real estate trends:

And here’s a map showing April real estate stats by submarket. Wave your clicker each MLS area for details. Drop me a note if there are other stats you’d like to see included:

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