Tag Archives: condominiums

Real estate update: Low inventory, high demand still define market

This map shows the percent change in active home listings from February 2015 to February 2016 for each Kitsap submarket. You can hover your mouse over the map to see how active listings fluctuated during the past four years.

Kitsap homebuyers were still picking through a thin selection of houses February, but the lack of inventory didn’t dampen sales.

About 600 homes were listed for sale in the county last month, 28 percent fewer than in February 2015, according to Northwest Multiple Listing Service. (You can see where inventory declined the most using the interactive map embedded above.)

real estateSales activity in February was still stronger than a year ago. NWMLS reported 483 pending sales (up 9 percent) and 263 closed sales (up 13 percent) for the month.

The homes that sold in February were on the market for an average of 65 days, which was 26 fewer days than in February 2015, according to stats made available by Pacific Northwest Title. Continue reading →

Real estate update: Inventory remains very thin in Kitsap

real estate

The number of homes for sale in Kitsap County continued to drop in November, as sales activity remained relatively healthy.

According to Northwest Multiple Listing Service, there were 768 homes available in the county last month. That was 29 percent fewer than in November 2014, and 43 percent fewer than in November 2013. 

Meanwhile, 367 sales were pending in November, a 7.3 percent improvement from November 2014. The 299 closed sales recorded in November were on par with 2014.

The median price for homes sold in November, including condominiums, rested at $259,000.

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

And as a new feature this month, here are county-by-county breakdowns for median prices and the months supply of homes. Wave your mouse over the maps to see exact values:

New plan for Silverdale waterfront development

bucklin.court

A new proposal has been submitted for Bucklin Court, a planned development on the Silverdale waterfront, just east of Silverdale Beach Hotel.

Bucklin Court was initially designed as a three- to four-story, mixed-use development with up to 13 apartment or condominium units. The development would have also featured 4,500 square feet of retail space and 3,700 square feet of restaurant space.

A proposed revision to the performance based development, submitted to the county Oct. 5, would increase the number of residential units from 13 to 30 and eliminate the retail and restaurant spaces.

A preliminary site plan for the revised Bucklin Court proposal shows a mix of one- and two-bedroom units, served by about 30 surface parking stalls and underground parking. Other planned amenities include kayak storage and an entry garden.

The applicant Daybreak Development, LLC. of Belfair. Daybreak Development bought the 1.33-acre property in 2014 for $1 million, according to assessor’s records.

A hearing for the proposal is tentatively scheduled for Dec. 10.

Bucklin Court preliminary site plan by Tad Sooter

Kitsap home prices still waiting for liftoff

blog.april.mls

Sales are creeping up, inventory is slipping down, but home prices in Kitsap remain remarkably unchanged.

According to the latest NWMLS report, 291 homes (both houses and condos) sold in Kitsap in April. That was about 4 percent more than a year ago. Closed sales have ticked up steadily since January this year, as they’re supposed to. Another 506 sales were pending, also an improvement from April 2013.

Inventory was lower than a year ago. Active listings (1,250) and new listings (561) were both down in April from the previous year. The months of inventory (the time it would take to sell off the homes on the market) declined each month since January, and now rests at 4.3 months.

Prices, meanwhile, have barely budged. Less than $500 separated the median price of homes in Kitsap in April 2014 ($232,950) and April 2013 ($233,310):

medianprice

Continue reading →