During the month of March there were 11 (6 more than February) homes that sold in Silverdale. These Silverdale homes actually had a transfer of home ownership. Contracts complete and Lender funds available the home buyer and seller signed all of their documents as escrow prepared the closing packages. Once all the I’s were dotted and the T’s crossed there where deeds recorded at the Kitsap County courthouse that transferred the property into the new home owner’s name!
If you want to learn more about how we transfer property in Washington State a really great site to visit is the Escrow Association of Washington site. There you can find definitions and explanations of the home buying process for Silverdale Washington.
Let’s look at those 5 Silverdale homes that sold in March -
Average List Price
- $329,606 [$286,570 February, $268,117 January, $318,570 December]
- $144 per sq ft
Average Sold Price
- $323,491 [$281,970 February, $259,483 January,$308,880 December]
- $142 per sq ft
The average sq ft of these Silverdale homes was 2301 sq ft. These homes spent an average of 118 days on the market (DOM). Days on market rose slightly by 20 days.
The list to sale ratio for these homes was 98.314percent. What that meas is that buyers offered 98.14% of what the seller requested.
Not a bad time to purchase a home in Silverdale, Washington. Prices are down, interest rates are at an all time low and with the incentives from the government you might want to look at what it means to you. In fact it is a great time if you are a 1st time home buyer and qualify for the $8,000 tax credit – CREDIT! NOT loan! Read the information I have written about the program here
It is finally official. The hombuyer’s tax credit has been extended to April 30, 2010
What do these numbers mean? Is it a good time to buy? Is it a good time to sell. It all depends on your individual situation. I would rather buy in a buyers market and I would rather sell in a buyers market if I have to buy another home with the proceeds. I am a fan of the NORMAL market – everyone can feel more comfortable and real estate transactions are not as stressful.
So what is the absorption rate at this point in time? Check here for the definition of absorption rates - Absorption Rates
Using the formula and only including active and contingent homes on the market the absorption rate for January would be 12.4 months - ouch! We had been down to 5 months in the last quarter of 2009. Of course remember we are looking at a trend, so as we go through 2010 we will get a better picture. Hopefully, low number of closings in January is not a trend.
If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a FREE Market Analysis.
If you would like to purchase a home in the Kitsap County Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.
“Statistics not compiled or published by NWMLS.” Equal Opportunity Housing All information deemed reliable, but not guaranteed
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