Tag Archives: houses

Kitsap’s median home price hits $285,000

real.estateThe median price for homes sold in Kitsap County reached $285,000 last month, as sales activity ramped up and inventory remained low.

The median price for May was 7.6 percent higher than in May of 2015, according to report from Northwest Multiple Listing Service. 

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CLICK HERE FOR A MAP SHOWING YEAR-OVER-YEAR PRICE CHANGE BY SUBMARKET

The year-to-date (January-May) median home price for the county was $266,914, up about 11.5 percent from the same period of last year.

Prices have increased most dramatically in West Bremerton, where homes are selling for 40 percent more so far this year than in 2015.

Despite the price jump, West Bremerton remains the county’s least expensive submarket.

Home sales also ticked up in May. Pending sales were up 9.4 percent from May 2015, while closed sales jumped 12.5 percent.

The number of homes available for sale inched up to 734, with 608 listings added. Inventory remained 23 percent lower than a year ago.

The months supply of homes — the number of months it would take to sell off all homes on the market if no new listings were added — rested at 1.85. A market is considered balanced when it has a four- to six-month supply.

“Inventory is being squeezed from all directions,” Frank Wilson of John L. Scott in Poulsbo, said in a statement released by NWMLS. “With less than two months of inventory, every new listing seems to draw multiple offers.”

Wilson doesn’t see the inventory crunch easing “for some time to come.” Even if the Fed raises interest rates, he believes shortages will persist because of the backlog of buyers.

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: Low inventory, high demand still define market

This map shows the percent change in active home listings from February 2015 to February 2016 for each Kitsap submarket. You can hover your mouse over the map to see how active listings fluctuated during the past four years.

Kitsap homebuyers were still picking through a thin selection of houses February, but the lack of inventory didn’t dampen sales.

About 600 homes were listed for sale in the county last month, 28 percent fewer than in February 2015, according to Northwest Multiple Listing Service. (You can see where inventory declined the most using the interactive map embedded above.)

real estateSales activity in February was still stronger than a year ago. NWMLS reported 483 pending sales (up 9 percent) and 263 closed sales (up 13 percent) for the month.

The homes that sold in February were on the market for an average of 65 days, which was 26 fewer days than in February 2015, according to stats made available by Pacific Northwest Title. Continue reading →

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

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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:

Home sales remained steady in October

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Kitsap County home sales remained strong in October, despite a dwindling supply of available houses.

A total of 473 sales were pending last month, according to Northwest Multiple Listing service. That was a 10 percent jump from October 2014, and 27 percent increase from October 2013.

Closed sales were also strong, with 422 transactions completed in October.

According to assessor’s records, Kitsap County had already broken the $1 billion mark for home sales by the end of September this year, easily outpacing sales volumes from the same period of 2014:

The already low inventory of homes continued to decline on October. The 888 homes for sale were 30 percent fewer than in October 2014. Here’s a graphical look at sales activity and listings through October:

The October median price for houses and condominiums in Kitsap was $258,500, nearly unchanged from September.

This graphic shows median month-by-month median home prices for Kitsap, and year-to-date home prices across the county:

85-home development approved in Poulsbo

 

noll.mesfordA city hearing examiner has approved the preliminary plat for an 85-home development near the intersection of Noll Road and Mesford Road in Poulsbo.

The neighborhood will be situated on 18.6-acre hillside site, just inside city limits. It will be served by city sewer and water.

Plans include “a variety of open spaces” and amenities, including walking trails, a gazebo, play areas and a basketball court. Access will be from Noll Road and Langaunet Lane.

A public hearing was held in May. You can read the Oct. 6 notice of decision below.

Noll Mesford NOD

A quick look at mid-year real estate numbers

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I’ll be taking a more detailed look at real estate market trends for the first half of 2014 later this month (after I get done with this).

In the meantime, I’ve compiled a quick graphical snapshot of our year so far, with numbers courtesy the Northwest Multiple Listing Service. It’s fair to say there were few fireworks: Continue reading →

Kitsap home prices still waiting for liftoff

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Sales are creeping up, inventory is slipping down, but home prices in Kitsap remain remarkably unchanged.

According to the latest NWMLS report, 291 homes (both houses and condos) sold in Kitsap in April. That was about 4 percent more than a year ago. Closed sales have ticked up steadily since January this year, as they’re supposed to. Another 506 sales were pending, also an improvement from April 2013.

Inventory was lower than a year ago. Active listings (1,250) and new listings (561) were both down in April from the previous year. The months of inventory (the time it would take to sell off the homes on the market) declined each month since January, and now rests at 4.3 months.

Prices, meanwhile, have barely budged. Less than $500 separated the median price of homes in Kitsap in April 2014 ($232,950) and April 2013 ($233,310):

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Continue reading →

Kitsap home prices down to start new year

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After ending a five-year slide in 2013, Kitsap home prices were down in January.

The median price of closed sales was $213,000 in last month, according to figures released Wednesday by Northwest Multiple Listing Service. That was lower than in January 2013 ($235,000) and lower than the overall median price in 2013 ($240,000).

New listings (384) and closed sales (225) were up from January. The 5-month supply of homes in January was also substantially higher than the average for 2013. Pending sales (348) were lower than a year ago but well above December’s total of 256.

Here’s a look at the median price for closed sales in selected Kitsap areas:

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Photo: Larry Steagall