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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:

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: