Tag Archives: northwest multiple listing service

Home sales remained strong in November

RealEstate_FILE01_21275712_ver1.0_640_480Real estate sales activity remained elevated in Kitsap last month, as did home prices.

Pending sales in the county were up 16 percent in November compared with November of 2015, while closed sales were up 30 percent, according to Northwest Multiple Listing Service. 

A sales surge was reported across the Puget Sound region.

“November’s pending sales for the four-county area of King, Snohomish, Pierce and Kitsap were the highest since 2005,” John L. Scott CEO J. Lennox Scott noted in a NWMLS news release.

“Every time interest rates increase 0.5 percent we see these surges because buyers become anxious about increasing rates – but on a historical basis rates are still amazing,”

Those eager buyers competed over a dwindling supply of home listings.

In Kitsap, 330 new listings came on the market in November, bringing the number of homes for sale in the county to 758. Inventory was down only 1.3 percent from November of 2015, but still very low compared with previous years.

Homes sold in Kitsap in November fetched a median price of $280,000, up about 8 percent or $21,000 from the same time last year.

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

And here’s a map showing real estate stats by submarket. Hover your mouse over each area for details.

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:

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:

Wave of home listings buoyed market in July

B0015078797--870950A wave of new listings hit Kitsap’s real estate market in July, helping to replenish — if only slightly — the county’s scant supply of homes for sale.

Other Western Washington markets enjoyed a similar influx of listings, Northwest Multiple Listing Service reported.

“We might actually be starting to move very slowly back toward a more balanced market,” OB Jacobi, president of Windermere Real Estate, said in a news release.

In Kitsap, 654 homes came on the market in Kitsap in July, raising the total number of available listings to 944.

Inventory was still down 10 percent from July 2015, but that marked a major improvement from January, when there were 30 percent fewer homes on the market compared with the previous year.

Pending sales remained strong in July, up 7 percent from 2015, while closed sales dipped. The county’s median home price was $290,000, up about 5 percent.

Here’s a map showing real estate data for Kitsap County submarkets. Hover your mouse over each area to see local stats:

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. 

price.change
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: 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:

Real estate update: Kitsap home prices up to end year

real.estateThe Kitsap real estate market ended 2015 on a high note. At least for sellers.

The median price for houses and condominiums in the county was $266,500 in December, a 13.4 percent increase from December 2014, according to numbers released this week by Northwest Multiple Listing Service.

Kitsap’s overall median home price for 2015 was $258,500, besting 2014 by 8 percent.

Home sales in December were in line with previous years. The county’s already depleted home inventory continued to shrink, with 629 active listings at the end of the year.

We’ll have a more in-depth look at the 2015 real estate market a little later this month, when NWMLS releases its annual report.

In the meantime, here’s a graphical look at key trends in Kitsap:

And here’s a map showing the year-over-year change in median price and closed sales for all the submarkets within the county. Wave your mouse over the graphic to see additional stats (and feel free to share using the embed button):

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: