Kitsap County WA Market Report for October 2007

Real Estate Market Report/Conditions in Kitsap County WA for 10/04/2007

The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington for October 2007, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (Data for Bainbridge Island is included below)

• Properties currently active on the market: 2273
• Properties closed in the last 180 days: 1687
• Average Sales Price: $336,020
• Average List Price: $341,304
• Ratio of List Price to Sales Price: 99.5%
• Average Days on Market: 87.5
• Sales Pending this Week: 41

Current Market Conditions: The highest ratio of List Price vs. Sale Price is still Area 141 (South Kitsap West of Hwy. 16) with 101%.  The lowest ratios were 97% for Areas 167 (Suquamish) and 161 (Hansville). Shortest Days on Market (DOM) continues to be Area 150 (E. Central Kitsap) with 62 DOM. Area 146 (Chico) was also still 2nd at 64. Longest DOM goes to Area 164 (Lofall) with 161, followed by Area 162 (Kingston) with 104.  Inventory rose again slightly, and sales decreased. But the sales prices improved by nearly 7%. 

Bainbridge Island Stats: (Area 170)

• Properties currently active on the market: 332
• Properties closed in the last 180 days: 299
• Average Sales Price: $733,243
• Average List Price: $747,692
• Ratio of List Price to Sales Price: 98%
• Average Days on Market: 136
• Sales Pending this Week: 4

For Buyers: Don't listen to the media or Jim Cramer on the Today Show! Now is still a great time to consider purchasing a home here in Kitsap County WA. The current rate this morning for a 30-year Fixed Rate loan is still just over 6%! With the number of available homes on the market, Buyers have more choices and greater negotiating power.

For Sellers: You've got to do your homework and ensure that you're fully prepared for market. Your house will really need to 'pop' and be priced aggressively if you want to stand out from the masses. Working closely together with your Listing Agent, you should pull out the stops and do everything you can to position your home Head & Shoulders above the competition.

Three of my most recent listings are some great values! A lovingly remodeled Turn-of-the-Century Charmer by Island Lake (13110 Lakeview Avenue in Poulsbo), a stunning Craftsman Puget Sound View home (22829 Jefferson Point Rd. in Kingston), and a breathtaking Hood Canal/Cascade Mtn. View Home (813 Thorndyke Rd. in Port Ludlow). Call (360) 440-4758 for more details or to arrange a private showing!

For additional information and resources concerning real estate and living in Kitsap County, Washington, access my comprehensive website, www.KitsapLife.com or www.SoundBiteBlog.com

another quality consumer article by Sparky