Tag Archives: home sales

Real estate: Home sales haven’t fallen off this fall

ferncliff01_23090926_ver1.0_640_480The real estate market typically cools off each fall. Not so much this year.

Pending sales were up nearly 21 percent in October compared with October of 2015, according to statistics from Northwest Multiple Listing Service.

Competition helped keep home prices elevated. The median price for homes sold in Kitsap in October was $292,000, an increase of 13 percent ($33,500) from last year.

“The market in Kitsap is still very active,” John L. Scott Poulsbo manager Frank Wilson said in an NWMLS release.

An influx of new listings continued, with 424 homes listed in October. But brisk sales drove down inventory.

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 — dipped to 1.93. Real estate professionals consider a market balanced when it has a four- to six-month supply of homes.

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

And here’s a map displaying real estate stats by submarket. Wave your mouse over the map to see specifics:

Real estate report: Supply of homes for sale is gradually increasing

After scraping bottom last winter, the supply of homes available for sale in Kitsap increased gradually since March.

Notably, the number of home listings active in September nearly matched the number reported in September of 2015 (see chart below). Concomitantly, this surge affected other housing sectors. For example, if you were to read a review of Liberty Home Guard, you’d know how much the cost of warranties has dwindled. This was one of the many effects of the surge in home listings.

There were 593 listings added last month, a 21 percent increase from the previous year, according to a report from Northwest Multiple Listing Service.

Based on the stats, Kitsap remains squarely a seller’s market.

Real estate professionals consider a market balanced when it has a four- to six-month supply of homes, meaning it would take four to six months to sell off all the houses available if no new listings were added.

B0015078797--870950Kitsap had just a  2.15-month supply of homes in September. In other words, the market would need about 1,000 more active listings or a slowdown in sales to achieve some balance.

But even an incremental increase in supply could be good news, as sales activity didn’t cool off all that much in September.

Pending sales were down in the county from August to September — as is typical for the season — but were up 13 percent from September of 2015. The 448 deals closed in September marked a 15 percent increase from 2015.

Home prices remained elevated. The median price for houses and condominiums sold in September was $284,999, a 10 percent jump from last year.

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

And here’s a map showing real estate stats by submarket. Wave your clicker over each area to see details:

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:

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:

The priciest Kitsap home sales of 2015

These were the most expensive homes sold in Kitsap County in 2015, excluding Bainbridge Island (island homes are listed here). Details from public records and online listings. 

1. Olympic View waterfront (CK) — $1.36 million

Sale date: July 7

Location: 6855 NW Brothers View Lane (off Olympic View Loop)

Description: A 4,000-square-foot, three-bedroom, four-bath house on a 2-acre waterfront parcel facing Hood Canal. Built in 2006.

Listing here.

2. President Point waterfront (NK) — $1.35 million

Sale date: Jan. 13

Location: 13176 NE James Way

Description: A 4,600-square-foot, four-bedroom, four-bath house on 0.4 acres facing Puget Sound. Built in 2009.

“Unobstructed Puget Sound & Cascade mountain range views, stretching from beyond Mt. Baker to Mt. Rainier. Elegance, seamlessly combined with comfort and style.”

Listing and photos here.

3. Scandia waterfront (NK) — $1.2 million

Sale date: June 3

Location: 15716 Virginia Point Road

Description: A 2,800-square-foot, three-bedroom, 2.25-bath house on 0.7 acres, on the south shore of Liberty Bay. Built in 1999.

“Rare property… deep water moorage and tidelands.”

Listing and photos here. Continue reading →

The priciest Bainbridge home sales of 2015

blog.sunrise3The median price for homes sold on Bainbridge Island in 2015 was $615,000, meaning a lot of properties sold for a whole lot more.

In fact, 71 Bainbridge homes fetched more than $1 million, according to county assessor’s records. That was up from 55 in 2014, and 47 in 2013.

Below is a look at the top 10 priciest Bainbridge residential sales of 2015. See my 2014 list here.

Top Bainbridge Island Home Sales

These were the most expensive homes sold on Bainbridge Island in 2015. Details from public records and online listings. 

1. Country Club waterfront — $2.77 million

Click for interactive map
Click for an interactive map

Sale date: May 21

Location: 11078 Country Club Road

Description: A 5,600-square-foot, three-bedroom, five-bath house situated on 0.78 acres. Built in 2003.

“Sweeping views of Puget Sound and Seattle’s skyline are seen from most rooms of this masterwork in American Arts & Crafts Architecture, sited at the mouth of Blakely Harbor.”

Listing and photos here.

2. Point White waterfront — $2.75 million


Sale date: Oct. 19

Location: 3220 Point White Drive NE

Description: A 3,300-square-foot, three-bedroom, 2.75-bath house on 0.43 acres, facing Rich Passage. Built in 1979.

“Poised on 162’ of south-facing low bank waterfront, this stunning Hal Moldstad design is classic Northwest style at its best…comfortable, understated and serene… in perfect harmony with its landscape.”

Listing and photos here. Continue reading →

Real estate update: Kitsap home prices up to end year

real.estateThe Kitsap real estate market ended 2015 on a high note. At least for sellers.

The median price for houses and condominiums in the county was $266,500 in December, a 13.4 percent increase from December 2014, according to numbers released this week by Northwest Multiple Listing Service.

Kitsap’s overall median home price for 2015 was $258,500, besting 2014 by 8 percent.

Home sales in December were in line with previous years. The county’s already depleted home inventory continued to shrink, with 629 active listings at the end of the year.

We’ll have a more in-depth look at the 2015 real estate market a little later this month, when NWMLS releases its annual report.

In the meantime, here’s a graphical look at key trends in Kitsap:

And here’s a map showing the year-over-year change in median price and closed sales for all the submarkets within the county. Wave your mouse over the graphic to see additional stats (and feel free to share using the embed button):

‘Severe’ shortage ahead for Kitsap home market

RealEstate_FILE01_21275712_ver1.0_640_480The number of homes for sale in Kitsap County slid below 1,000 in September, setting the stage for a lean real estate market this fall and winter.

“Since new listings coming to market usually slow during the fourth quarter, we are looking at a severe shortage of inventory heading in to the spring market of 2016,” Frank Wilson, managing broker at John L. Scott in Poulsbo, said in a news release.

A total of 977 homes were for sale in the county in September, about 30 percent fewer than in September 2014, according to numbers released by Northwest Multiple Listing Service.

New listings were actually up 7 percent in September from the previous year, with 407 homes coming on the market. But those new listings were easily outpaced by pending sales.

Low inventory has dogged the Kitsap real estate market all year, even as builders rush to bring new neighborhoods online:

 

Despite strong demand and a skeletal inventory, price increases have been gradual in Kitsap.

The countywide median home price (including condominiums) inched up to $260,000 in September, a 4 percent increase from September 2014.

The median home price for the first three quarters of 2015 was up 7.5 percent from the same period of 2014.

Kitsap Association of Realtors CEO Mike Eliason sees incremental price increases as a positive.

“Even in spite of a marketplace where you had multiple offers on listings, the great news is the median price hasn’t had a double digit increase,” he said.

Here’s a look at median home prices across the county:

And here’s a graphic showing sales and inventory trends:

Kitsap home prices slip, sales still strong

After climbing steadily all year, Kitsap home prices finally dipped in August.

The median price for a home in the county (including condos) was $259,950 last month, down from $275,000 in July, but still 7 percent higher than a year ago, according to Northwest Multiple Listing Service.

While prices slipped, sales activity remained strong. A total of 557 home sales were pending in August, 19 percent more than in August of 2014.

Pending sales easily outpaced new listings in the county, keeping inventory low. The 1,033 active listings in August were 34 percent fewer than in August 2014.

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.