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Bainbridge Island Real Estate Market - August 2008

By
Real Estate Agent with Prowse and Company

 

Residential homes on Bainbridge Island were selling for a YTD median price of about $608,500 at the end of August, a drop of 10.5% from a year ago. The median price for closed sales occurring in August ($578,500) was down about 18% from a year ago. Kitsap County YTD median price has fallen 8.5% over the past year. The YTD number of Bainbridge closed sales is down 50% from a year ago, and the YTD number of pending sales is down 44%. These numbers have improved slightly as the median price has fallen. The number of closed sales is down 27% Countywide from a year ago. The number of active listings on Bainbridge (300) is up 20% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 11.6 months, an improvement from the greater than 15 month turnover rates the past two months. Bainbridge Island is a strong buyers market.

 

Posted by

Brenda Prowse
Broker/Owner - Prowse and Company

Certified Distressed Property Expert (CDPE)

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