North Kitsap Real Estate Market - March 2008

Using the example of Kingston - the largest housing market in North Kitsap - homes were selling for a median price of about $355,000 at the end of March, down about 1% from a year ago and up about 6.3% from last month. Kingston prices fluctuate more than some of the other markets because of the lower listing and sales volume. Kitsap County median prices have fallen 5.3% over the past year. The YTD number of closed sales is down 39% from a year ago, and the YTD number of pending sales is down 53%. The number of closed sales is down 26% Countywide from a year ago. The number of active listings in Kingston (93) is up 41% from a year ago and up 11 percent since last month. The inventory turnover (total homes on the market divided by number sold last month) is 18.6 months - only 5 sales closed in Kingston last month.