Homes in Poulsbo were selling for a median price of about $355,000 at the end of December, up about 1.4% from a year ago. Kitsap County median prices were up 6% over the past year. The number of closed sales YTD has increased 13% compared to last year, and the number of YTD pending sales has increased 31%, though a large portion of that increase is from presales of one moderately priced new construction development - homes that never appeared as active listings. The Poulsbo listing inventory (118) has risen by 17% compared to a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 6.6 months. Calculating inventory turnover in this manner is artificially low since a number of the new construction homes closing did not show as active listings. Of 45 current pending sales, 40 are new construction. Of 63 non-new construction active listings in Poulsbo, only 7 closed last month, making the inventory turnover rate 9 months.
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