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North Kitsap Real Estate Market - February 2012

By
Real Estate Agent with Prowse and Company

Statistics here are for Kingston, the largest of the remaining housing markets in North Kitsap. Activity in Kingston should be representative of the other nearby communities. Kingston homes were selling for a month end median price of about $155,000 at the end of February, 20% lower than a year ago and 42% lower than last month. Month-to-month fluctuations in the low volume Kingston market make these raw numbers difficult to interpret. The more stable 3 month moving average ($249,650) of closed sale price is 16% higher than a year ago. This average was skewed by an unusually high median price 3 months ago ($537,475). The Kitsap County 3 month moving average median price is about 13% lower than it was a year ago. The 3 month moving average of Kingston closed sales was 25% lower than a year ago, while the number of pending sales was 150% higher than a year ago. The 3 month moving average of closed sales is down 3% Countywide from a year ago. The number of active listings in Kingston (44) is 5% higher than a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 14.7 months, slower than the 8.8 month turnover reported last month and slower than the 10.5 month turnover of a year ago. Kingston is still a buyer's market.

Kingston Real Estate - February 2012
Median Price 3 mo Ave Price 3 mo Ave Closed Sales 3 mo Ave Pending Sales Inventory Turnover (months)
February 2012 $155,000 249,650 4 10 14.7
January 2012 $264,950 377,142 6 7 8.8
February 2011 $194,000 215,217 5 4 10.5

 

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Posted by

Brenda Prowse
Broker/Owner - Prowse and Company

Certified Distressed Property Expert (CDPE)

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