Tag Archives: home sales

Real estate: Demand still easily outpacing listings

Kitsap County home buyers are still gobbling up houses faster than they can come on the market.

Home inventory remained very low in February, with 830 active listings at the end of the month. That was despite an uptick in new listings (15 percent higher than in February 2014).

Pending sales were up 24 percent compared with the same time last year, according to fresh numbers from Northwest Multiple Listing Service. 

The median price for a home in Kitsap bumped up $10,000 from January to February, reaching $235,000.

Here’s a graphical look at real estate activity last month:

The priciest Kitsap home sales of 2014

Wrapping up my look at the biggest real estate transactions of 2014, here is a list of the 10  highest priced home sales on the Kitsap Peninsula. (I listed the top 10 on Bainbridge Island last week and rounded up the year’s major commercial sales).

The list for the peninsula was dominated by sales in North Kitsap, with one Central Kitsap property slipping in at No. 6. You can see a ranking of Kitsap median home prices by area at the bottom of this post.

Top Kitsap Peninsula Home Sales

These were the most expensive homes sold in Kitsap County in 2014, excluding Bainbridge Island. Details from public records and online listings. 

1. Rural Kingston — $1.23 million

Sale date: Oct. 3

Location: Fir Hollow Drive NE, off Highway 104, near Carpenter Lake

Description: 10 acres of woods and fields; 4,320-square-foot, five-bedroom house built in 2006. Listing here.

2. Lemolo waterfront — $1.12 million

Sale date: April 25

Location: 15000 Block of Lemolo Shore Drive, near the mouth of Liberty Bay

Description: Under an acre of “no-bank” waterfront; 4,000-square-foot, three-bedroom house built in 1979.  Listing here.

 3. Jefferson Point waterfront — $1.11 million

Sale date: Feb. 21

Location: 24000 Block of Jefferson Place NE, on Jefferson Point, South Kingston

Description: 3.5-acre property facing; 3,520-square-foot, three-bedroom house built in 1970. Listing here.

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The priciest Bainbridge home sales of 2014

This waterfront island home sold for $3.3 million. Courtesy photo

Earlier this week I rounded up the 20 most expensive commercial real estate sales of 2014 in Kitsap County.

Today, I’m taking a look at the priciest homes sold last year, based on county assessor’s records.

High-end homes sold at a good clip across Western Washington in 2014, according to the Northwest Multiple Listing Service.

In Kitsap County, 55 homes sold for more than $1 million. That was up from 47 in 2013.

Now, I could just list the top 20 home most expensive home sales in the county, but they would all be Bainbridge Island properties. In fact, I could list the top 35 most expensive Kitsap homes sold, and they would still all be on the island.

Instead, I’m breaking out the top 10 island homes sold, and following up with the top 10 sold on the peninsula. Details are from public records and online listings:

Top Bainbridge Island Home Sales

Bainbridge Island ranked as the sixth most expensive school district in Western Washington in 2014, with a median single-family home price of $620,000. These were the top island sales:

1. Tolo Road waterfront — $3.3 million

Sale Date: Sept. 19

Location: 4000 Block of Tolo Road, on the west side of the island, across the water from Brownsville.

Description: 1.67-acre waterfront property with moorage; 4,540-square-foot three-bedroom house, built in 2006. (Pictured above). Listing here.

2. Sunrise Drive waterfront — $3.15 million

Sale date: Aug. 5

Location: 14000 Block of Sunrise Drive NE, on the northeast side of the island, just south of Fay Bainbridge Park.

Description: An acre of beachfront facing Puget Sound; four-bedroom house 6,170-square-foot, four bedroom house, built in 2000. Listing here.

3. Pleasant Beach waterfront — $2.89 million

Sale date: June 6

Location: 3000 Block of Pleasant Beach Drive NE, on Rich Passage at the south end of the island

Description: Less than an acre of low-bank waterfront with moorage; 5,370-square foot, four bedroom house, built in 2005. Listing here. Continue reading

Kitsap real estate market ends 2014 with a bang

The Western Washington real estate market ended 2014 with fireworks.

Home sales logged in December 2014 outpaced sales made in December 2013 by double digits, according to numbers released by Northwest Multiple Listing Service.

The trend held true in Kitsap County, where December pending sales (306) were nearly 20 percent higher than at the same time in the previous year. Closed sales (324) jumped by 29 percent. Unseasonably high sales were seen in nearly every Kitsap community.

While sales surged, the available inventory of homes continued to plunge. Just 205 homes came on the market in Kitsap in December. Fewer than 900 homes were available for sale in the county, the first time the inventory has dipped below 1,000 in at least the past three years.

Hot sales and low inventory drove the months supply of homes (the number of months it would take to sell off all the homes available) down to 2.76. For comparison, King County’s months supply was a rock-bottom 1.44, while Pierce County’s was at 3.02.

Here’s a look at listing trends in Kitsap:

Despite dramatic swings in sales and inventory, Kitsap home prices remained virtually unchanged.

The median price for a closed sale in December ($235,000) was actually down from December 2013 ($244,000). The overall median home price for 2014 fell $200 short of the 2013 price: $239,250 to $239,450.

I’ll be writing a more in depth review of 2014 real estate trends later this month when NWMLS releases its annual report. In the meantime, here’s a big fat chart showing 2014 median home prices for various areas of the county:

Kitsap home sales start holidays on a high note

The busy holiday season is a time when home sales typically taper off. Most buyers put off house hunting until the new year.

Sales have indeed dropped in Kitsap, but activity is still more intense than it was a year ago.

There were about 16 percent more closed sales and 5 percent more pending sales in November than in November 2013, according to a report from Northwest Multiple Listing Service. The high number of closed sales make sense, given the large number of pending sales reported in the last few months.

The median home price for the county remained pretty much flat, ending November at $245,000.

Inventory continued to drop. There were 1,086 active listings in November, compared with 1,262 in October, and 1,483 in November 2013.

The months supply of homes (the number of months it would take to sell off what’s available on the market) rose from 3.3 in October to 3.7 in November, reflecting the sales slowdown. King County’s rate, for comparison, was hovering around 2 months.

Kitsap home sales were way up in September

Kitsap’s real estate market is suddenly very lively.

For the first eight months of the year, pending sales essentially mirrored 2013. In September, they made a somewhat startling upturn.

A total of 493 residential sales were pending at the end of the month, up from 352 in the previous year, according to fresh numbers released by Northwest Multiple Listing Service.

Pending sales also rose between August and September, at a time when we usually start seeing sales tail off for the fall.

Most impressive, the jump in pending sales was experienced across all Kitsap population centers:

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