Real Estate Market Report/Conditions in Kitsap County WA for 09/02/2007
The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington for September 2007, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA (excludes Bainbridge Island).
- Properties currently active on the market: 2158
- Properties closed in the last 180 days: 1749
- Average Sales Price: $312,461
- Average List Price: $342,534
- Ratio of List Price to Sales Price: 96%
- Average Days on Market: 87
- Sales Pending this Week: 45
Current Market Conditions: The highest ratio of List Price vs. Sale Price was 101% for Area 141 (South Kitsap West of Hwy. 16). The lowest ratio was 73% for Area 168 (Indianola). Shortest Days on Market (DOM) was Area 150 (E. Central Kitsap) with 59 DOM. Area 146 (Chico) was 2nd at 67. Longest DOM goes to Area 163 (Port Gamble) with 149, and 2nd longest is Area 162 (Kingston) with 105. Overall inventory dropped slightly, and sales increased as well. Certainly a more optimistic indication that the market may be stabilizing somewhat.
For Buyers: Now is still a great time to consider purchasing a home, especially for 1st Time Home Buyers. The current rate this morning for a 30-year Fixed Rate loan is just over 6%! With the number of available homes on the market, Buyers have more choices and greater negotiating room.
For Sellers: Make sure that you're priced aggressively and that you and your Listing Agent are working closely together as a team, doing everything you can to position your home Head & Shoulders above the competition.
Two of my most recent listings are both great values! A lovingly remodeled Turn-of-the-Century Charmer by Island Lake (13110 Lakeview Avenue in Poulsbo), and a stunning Craftsman Puget Sound View home (22829 Jefferson Point Rd. in Kingston). Call (360) 440-4758 for more details or to arrange a private showing!
another quality consumer article by Sparky