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:

“Kitsap County leads the Puget Sound region in the dramatic increases in pending and closed sales,” said Mike Eliason of the Kitsap County Association of REALTORS.said in a news release.

Eliason credited the rise in sales to the improving economy, regional job growth and steady hiring at the Bremerton Naval shipyard.

Here’s a look at where pending and closed sales stand compared with the last two years:

It’s worth noting the list price of the home sales pending in September ($244,950) was lower than in 2013 ($263,290).

The median price for closed sales in September was $249,950, up slightly from last year. The year-to-date median home price in Kitsap ($239,000) remains identical to 2013.

The inventory of available homes remains relatively low, with a 4-month supply. There were 9 percent fewer homes on the market in September than at the same time in 2013.

Frank Wilson, an MLS director in Kitsap County, said about one-third of homes sell in the first 30 days after being listed, but about 30 percent of homes don’t sell after six months.

“Even though the market has picked up, it is still important to price your home at or close to market value, otherwise buyers move on to purchase another home,” Wilson said in a NWMLS release. “We are seeing a trend of buyers who are much more discriminating about what they are buying. Despite not having a lot of choices, buyers are willing to step aside from a transaction after an inspection if the home is not perfect.”

Follow Kitsap Sun business reporter Tad Sooter on Twitter at @tsooter. Contact him at or leave a comment below.

2 thoughts on “Kitsap home sales were way up in September

  1. Great information Tad! Do you have any data for the median sale price by area (e.g. Port Orchard, Silverdale, W. Brem, etc.) ?

    1. Thanks for the comment GP.

      I added a chart to the bottom of the post showing September median closed sale prices in various areas. Wave your mouse over the bars to see exact amounts, and keep in mind some of these represent small sample sizes.

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