Homes in Silverdale were selling for a November median price of about $275,000. This median is up 17% percent from a year ago. Silverdale's more stable 3 month moving average median closed sale price in November of $275,750 was up about 3% from a year ago. Silverdale's median price fell sooner and has remained fairly stable over the past year. The Kitsap County 3 month moving average median price is down 4% compared to a year ago. The 3 month moving average for Silverdale's number of closed sales was unchanged from a year ago, compared to a rise in closed sales of 22% for the County as a whole. The number of Silverdale pending sales in November is up 7% from a year ago, but recall this number includes pending short sales that may not close. The number of active listings in Silverdale (74) is 24% lower than a year ago. There are only about half as many homes on the market now as there were at peak inventory in mid 2007. The inventory turnover (total homes on the market divided by number sold last month) is 5.7 months, better than the 8.1 months reported last month. Silverdale has been one of the area's better markets, but there appears to be a large shadow inventory of unsold homes not currently on the market that will deter prices from rising.
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