The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for February 2010, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (this includes data for Bainbridge Island WA)
- Properties currently active on the market: 1730
- Properties closed in the last 180 days: 1358
- Average Sales Price: $284,294
- Average List Price: $295,084
- Ratio of List Price to Sales Price: 97%
- Average Days on Market: 94
- Sales Pending this Week: 93
Central Kitsap WA statistics separately: (Area 150)
- Properties currently Active on the market: 144
- Properties closed in last 180 days: 160
- Average Sales Price: $236,201
- Average List Price: $238,972
- Ratio of List Price to Sales Price: 99%
- Average Days on Market: 80
- Sales Pending this week: 7
For additional area specific market statistics, go to www.KitsapLife.com
WHAT’S HAPPENING IN THE MARKET NOW?
If I could pick one word to describe the current housing market, it would be ‘uncertainty.’
Most of us would love to believe that things will pick up as we enter the Spring season. Typically, we see a notable overall improvement in both buying and selling of residential properties. But with all the unknowns and instability of our nation’s economy, it’s difficult to accurately predict the direction the market will go in the next month or two.
Short Sales and Foreclosures will obviously continue to impact the market, but to what extent, no one is sure.
Home prices here in Kitsap County WA, continued to slide in January, adding to the nearly 9% drop we experienced in 2009 over 2008, according to data from the Northwest Multiple Listing Service.
As a comparison, the median sales price of closed homes in January 2010, $224,000, was 4.4 percent less than in January 2008.
Regardless, there continues to be a few exceptions to the rule. There were three north-end communities – Poulsbo, Lofall and Hansville, and two communities in South Kitsap - Retsil and Manchester – that all enjoyed positive increases in sales prices when compared with the previous month. Close proximity of these communities to ample waterfront was no doubt an influence.
Poulsbo’s median closing price in January was $364,250; Lofall’s $450,000; Hansville’s $429,900; and Retsil and Manchester were at $287,450.
SUBSCRIBE TO MY NEW BLOG ‘EVERYDAY CK’
‘Everyday CK’ – My New Blog on the Kitsap Sun
Just wanted to mention that I was recently afforded the opportunity of joining the team of bloggers on the Kitsap Sun website.
My blog is entitled ‘Everyday CK’ and is geared towards sharing information and encouraging conversations about the Central Kitsap area.
Please take a moment to hop over and subscribe! ‘Everyday CK‘
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Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, Everyday CK, and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com