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North Kitsap Real Estate Market - October 2010

By
Real Estate Agent with Prowse and Company
Statistics here are for Kingston, the largest housing market in North Kitsap. Activity in Kingston should be representative of the other areas in North Kitsap. Kingston homes were selling for a month end median price of about $289,900 at the end of October, 1% lower than a year ago. Because of the relatively lower sales volume in Kingston, a couple high priced sales (or lack thereof) can skew the market. The more stable 3 month moving average ($320,800) of closed sale price (which unfortunately was skewed by a high median price last month) is up 14% compared to a year ago. The Kitsap County 3 month moving average median price is 1% higher than it was a year ago. The 3 month moving average of Kingston closed sales fell 4% from a year ago, while the number of pending sales fell 43% from a year ago. The 3 month moving average of closed sales is down 24% Countywide from a year ago. The number of active listings in Kingston (50) is down 14% from a year ago. The inventory turnover (total homes on the market divided by number sold last month) is 7.1 months, slower than the 4.8 month turnover reported last month and the 3.9 month turnover of a year ago, but still very respectable in this market. While it might appear from the turnover rate that properties in Kingston are turning over quickly, the rate of sales has been relatively constant, while the inventory of listings has fallen dramatically - people pulling their unsold properties off the market. Kingston is still a buyer's market.

Kingston Real Estate - October 2010  
Median Price 3 mo Ave Price 3 mo Ave Closed Sales 3 mo Ave Pending Sales Inventory Turnover (months)
October 2010 $289,900 320,800 8 8 7.1
September 2010 $362,500 293,742 8 10 4.8
October 2009 $292,000 281,167 9 14 3.9

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Posted by

Brenda Prowse
Broker/Owner - Prowse and Company

Certified Distressed Property Expert (CDPE)

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