Tag Archives: median price

Real estate: Home sales haven’t fallen off this fall

ferncliff01_23090926_ver1.0_640_480The real estate market typically cools off each fall. Not so much this year.

Pending sales were up nearly 21 percent in October compared with October of 2015, according to statistics from Northwest Multiple Listing Service.

Competition helped keep home prices elevated. The median price for homes sold in Kitsap in October was $292,000, an increase of 13 percent ($33,500) from last year.

“The market in Kitsap is still very active,” John L. Scott Poulsbo manager Frank Wilson said in an NWMLS release.

An influx of new listings continued, with 424 homes listed in October. But brisk sales drove down inventory.

The months supply of homes — the number of months it would take to sell off all the homes for sale if no new listings were added — dipped to 1.93. Real estate professionals consider a market balanced when it has a four- to six-month supply of homes.

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

And here’s a map displaying real estate stats by submarket. Wave your mouse over the map to see specifics:

Real estate report: Supply of homes for sale is gradually increasing

After scraping bottom last winter, the supply of homes available for sale in Kitsap increased gradually since March.

Notably, the number of home listings active in September nearly matched the number reported in September of 2015 (see chart below). Concomitantly, this surge affected other housing sectors. For example, if you were to read a review of Liberty Home Guard, you’d know how much the cost of warranties has dwindled. This was one of the many effects of the surge in home listings.

There were 593 listings added last month, a 21 percent increase from the previous year, according to a report from Northwest Multiple Listing Service.

Based on the stats, Kitsap remains squarely a seller’s market.

Real estate professionals consider a market balanced when it has a four- to six-month supply of homes, meaning it would take four to six months to sell off all the houses available if no new listings were added.

B0015078797--870950Kitsap had just a  2.15-month supply of homes in September. In other words, the market would need about 1,000 more active listings or a slowdown in sales to achieve some balance.

But even an incremental increase in supply could be good news, as sales activity didn’t cool off all that much in September.

Pending sales were down in the county from August to September — as is typical for the season — but were up 13 percent from September of 2015. The 448 deals closed in September marked a 15 percent increase from 2015.

Home prices remained elevated. The median price for houses and condominiums sold in September was $284,999, a 10 percent jump from last year.

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:

Kitsap real estate market was still hot in August

Kitsap’s real estate market ended the summer season with a bang.

Listings, sales and prices were all up in August, according to the latest numbers from Northwest Multiple Listing Service. 

More “for sale” signs popped up across the county last month, with 591 new listings added. About 970 homes were available in August, down 6 percent from August of 2015, marking a slight improvement in inventory from earlier in the year.

Sales continued at a torrid pace. More than 630 homes were pending in August, a 13 percent increase from last year. Closed sales were up 22 percent.

Kitsap’s median home price (including condominiums) bumped up to $292,000, up 12.3 percent from August of 2015.

Here’s a graphical look at real estate trends in the county:

And here’s a map showing real estate statistics by submarket:

Real estate update: More homes came on the market in April

ferncliff01_23090926_ver1.0_640_480Kitsap’s depleted inventory of homes for sale received a much needed injection of new listings in April.

A total of 568 new listings were added last month, 71 more than were added in April 2015, according to Northwest Multiple Listing Service. The influx raised the total number of active listings from 566 in March to 655 in April.

0411_KitsapIndicator_MonthsSupply_KSThough surely welcome, the added listings did little to ease the tight market.

The inventory of available homes remained 22 percent lower than in April 2015, and 56 percent lower than in April 2012.

Sales were steady last month, with 584 transactions pending, up 5 percent from the previous year. The county’s median home price hovered at $270,000, up 7 percent year-over-year.

The months supply of homes (the number of months it would take to sell off all the homes for sale if no new listings were added) eased slightly to 1.83 months.

A market is generally considered balanced when it has a supply of four to six months. Kitsap’s market still strongly favors sellers.

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

And here’s a map showing April real estate stats by submarket. Wave your clicker each MLS area for details. Drop me a note if there are other stats you’d like to see included:

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:

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:

The priciest Bainbridge home sales of 2015

blog.sunrise3The median price for homes sold on Bainbridge Island in 2015 was $615,000, meaning a lot of properties sold for a whole lot more.

In fact, 71 Bainbridge homes fetched more than $1 million, according to county assessor’s records. That was up from 55 in 2014, and 47 in 2013.

Below is a look at the top 10 priciest Bainbridge residential sales of 2015. See my 2014 list here.

Top Bainbridge Island Home Sales

These were the most expensive homes sold on Bainbridge Island in 2015. Details from public records and online listings. 

1. Country Club waterfront — $2.77 million

Click for interactive map
Click for an interactive map

Sale date: May 21

Location: 11078 Country Club Road

Description: A 5,600-square-foot, three-bedroom, five-bath house situated on 0.78 acres. Built in 2003.

“Sweeping views of Puget Sound and Seattle’s skyline are seen from most rooms of this masterwork in American Arts & Crafts Architecture, sited at the mouth of Blakely Harbor.”

Listing and photos here.

2. Point White waterfront — $2.75 million


Sale date: Oct. 19

Location: 3220 Point White Drive NE

Description: A 3,300-square-foot, three-bedroom, 2.75-bath house on 0.43 acres, facing Rich Passage. Built in 1979.

“Poised on 162’ of south-facing low bank waterfront, this stunning Hal Moldstad design is classic Northwest style at its best…comfortable, understated and serene… in perfect harmony with its landscape.”

Listing and photos here. Continue reading →

Home sales remained steady in October

Bremerton_Housing_Bay_Vista1_18516146_ver1.0_900_675

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:

‘Severe’ shortage ahead for Kitsap home market

RealEstate_FILE01_21275712_ver1.0_640_480The number of homes for sale in Kitsap County slid below 1,000 in September, setting the stage for a lean real estate market this fall and winter.

“Since new listings coming to market usually slow during the fourth quarter, we are looking at a severe shortage of inventory heading in to the spring market of 2016,” Frank Wilson, managing broker at John L. Scott in Poulsbo, said in a news release.

A total of 977 homes were for sale in the county in September, about 30 percent fewer than in September 2014, according to numbers released by Northwest Multiple Listing Service.

New listings were actually up 7 percent in September from the previous year, with 407 homes coming on the market. But those new listings were easily outpaced by pending sales.

Low inventory has dogged the Kitsap real estate market all year, even as builders rush to bring new neighborhoods online:

 

Despite strong demand and a skeletal inventory, price increases have been gradual in Kitsap.

The countywide median home price (including condominiums) inched up to $260,000 in September, a 4 percent increase from September 2014.

The median home price for the first three quarters of 2015 was up 7.5 percent from the same period of 2014.

Kitsap Association of Realtors CEO Mike Eliason sees incremental price increases as a positive.

“Even in spite of a marketplace where you had multiple offers on listings, the great news is the median price hasn’t had a double digit increase,” he said.

Here’s a look at median home prices across the county:

And here’s a graphic showing sales and inventory trends:

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: