Looks like the Port Orchard real estate market starts the year off with a normal market* carrying about 5 months of inventory. . Below are some market statistics for the Port Orchard area for the month of January 2014. These homes all have Port Orchard listed as their city in their physical address. During the month of January 2014 96 new listings became active in the NWMLS data base, which is a 9% decrease from last year and a 41.2 % increase from December 2013.
*Using absorption rates can help you define markets. My definition breaks down like this…
Normal Market – Between 5 and 6 months of inventory.
Seller’s Market - Between 1 and 4 months of inventory.
Buyer’s Market – 7 months and higher.
Now remember that absorption rates just track trends and isn't an exact science!
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.
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 Port Orchard / Manchester 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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