Statistics here are for Kingston, the largest housing market in North Kitsap. Activity in Kingston should be representative of the other areas in North Kitsap. Kingston homes were selling for a month end median price of about $362,500 at the end of September, 17% higher than a year ago. Because of the relatively lower sales volume in Kingston, a couple high priced sales (or lack thereof) can skew the market. The more stable 3 month moving average ($293,742) of closed sale prices is down 12% compared to a year ago. The Kitsap County 3 month moving average median price is 26% higher than it was a year ago. The 3 month moving average of Kingston closed sales rose 15% from a year ago, while the number of pending sales is unchanged from a year ago. The 3 month moving average of closed sales is down 20% Countywide from a year ago. The number of active listings in Kingston (48) is down 19% from a year ago and down 24% from last month. The inventory turnover (total homes on the market divided by number sold last month) is 4.8 months (better than the 7.9 month turnover reported last month and the 9.8 month turnover of a year ago). While it might appear from the turnover rate that properties in Kingston are turning over quickly, the rate of sales has been relatively constant, while the inventory of listings has fallen dramatically - people pulling their unsold properties off the market. Kingston is still a buyer's market.
| Median Price | 3 mo Ave Price | 3 mo Ave Closed Sales | 3 mo Ave Pending Sales | Inventory Turnover (months) | ||
| September 2010 | $362,500 | 293,742 | 8 | 10 | 4.8 | |
| August 2010 | $310,000 | 252,575 | 8 | 10 | 7.9 | |
| September 2009 | $309,500 | 333,833 | 6 | 12 | 9.8 |
More About North Kitsap Real Estate Market Trends
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