Kitsap real estate market keeps getting tighter

20050918-090653-pic-789628832Kitsap’s already-strained housing market somehow squeezed tighter in March.

There were nearly as many home sales pending in the county last month (559) as there were homes available for sale (566), according to Northwest Multiple Listing Service.

Active listings were down nearly 33 percent in March from the same period of 2015.

Low inventory dampened sales activity across the Puget Sound region, but not in Kitsap where pending sales were up 4.5 percent.

The months supply of homes in Kitsap (the number of months it would take to sell off all the homes on the market if no new listings were added) fell to 1.6 months. A market is considered “balanced” when it has a supply of four to six months.

(Click here for a map showing the county’s tightest submarkets.)

Kitsap home prices remain elevated from 2015. Houses and condominiums sold for a median price of $276,387 in March, a year-over-year increase of 15 percent.

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

And here’s a map showing detailed real estate statistics by submarket. Wave your mouse over each area for details:

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