Kitsap County Home Sales & Trends January 2014

Kitsap County home sales and prices January 2014

Kitsap county home sales improve from 2013 with 26% increase in homes sold.

In January 2014 we see a marked improvement in number of homes sold and decreased days on the market (DOM) compared to January 2013. However, average and median selling price are nearly identical and we see an increase in distressed properties this year.

Distressed properties accounted for 32% of homes sold in Kitsap County during January. Most of these homes were bank Owned REO’s.  The actual number of distressed properties were within an average range (71) However; with seasonally lower numbers of total  homes Sold, they represented a higher percentage of the total sales.  The last time  distressed properties comprised this percentage of the market in March 2012.  We expect the number of monthly distressed homes sold to remain in a consistent range,  but as the number of total homes Sold increases during the Spring Market, we expect to see distressed sales to again comprise the low to mid 20%  range.

Many of the areas in the county had low average selling prices and median sale prices, which is reflected in the county’s data for this month.

Here is additional data for real estate activity in Kitsap County during January 2014:

Average Original $ $276,698
Average Listing $ $264,937
Average Sale $ $256,519
Average Median $ $217,975
# Homes Sold 220
# Distressed 71
% Distressed 32%
# Short Sale 19
# REO 52
CDOM 103
DOM 80

As a whole, Kitsap County real estate has been booming! We saw some of the largest amount of home sales this past summer seeing and can only be expecting more good things to come. Feel free to contact us about buying or selling a home as we move out of the winter season into the busy season!

Brian Wilson, Broker; 360-689-2466

-and-

Jana Salmans, Managing Broker; 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Posted in Kitsap County Real Estate Data | Leave a comment

Real Estate Report January 2014 Poulsbo

January 2014 homes sold Poulsbo

Poulsbo home sales improve by 14% compared to January 2013

Poulsbo Home Sales started off well in 2014  with 25 homes sold and had higher average selling prices than last January by about 10%!

Here’s a peek at this months data:

Average Original $ $322,811
Average Listing $ $310,693
Average Sale $ $305,631
Average Median $ $261,550
$/sq. ft. $136
# Homes Sold 25
# Distressed 6
% Distressed 24%
# Short Sale 1
# REO 5
CDOM 182
DOM 113

Poulsbo is relatively consistent and doing well compared to other areas in North Kitsap County.  Sales in this area are on the move and the Spring Market has begun.

Visit our blog next month to see the most comprehensive data on Poulsbo real estate. As usual, feel free to contact us with any questions!

Brian Wilson, Broker; 360-689-2466

-and-

Jana Salmans, Managing Broker; 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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Suquamish & Indianola Real Estate Report January 2014

January 2014 Indianola & Suquamish Home Sales Trends

Indianola & Suquamish Home Sales Drop January 2014

There were 5 homes sold in Indianola & Suquamish during January 2014. The average and median selling price are the lowest we have seen in this 19 month real estate data. Yet, this area tends to be highly variable in home sales, as there are a large variety of property types & values and January is typically a seasonal low point.

The average selling price for January 2014 was $142,424 with an average median price of $161,520. The last time prices were in this range was in December 2010. While seasonal lows are expected, these declines were beyond expectations, but we believe them to be anomalies and will very likely show a big improvement next month and beyond.

On a good note, the homes sold during this month had a fairly low days on the market (DOM) of 73. The past 6 months we have seen ranges of 31 to 162.  Distressed properties, while low at only 2,of the 5 homes sold, still accounted for 40% of homes sold.  During the same period a year ago, distressed properties accounted for 71% of sales during January 2013. Thus, despite the low sales numbers, we do see a drastic decline in distressed property sales!

Here are the rest of the stats for this month:

Average Original $ $167,450
Average Listing $ $149,004
Average Sale $ $142,424
Average Median $ $185,900
$/sq. ft. $131
# Homes Sold 5
# Distressed 2
% Distressed 40%
# Short Sale 1
# REO 1
CDOM 97
DOM 73

Check back on our blog often to get the most up-to-date information on the area!

Brian Wilson, Broker; 360-689-2466

-and-

Jana Salmans, Managing Broker; 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Posted in Suquamish & Indianola Real Estate | Leave a comment

January 2014 Kingston, Hansville & Port Gamble Real Estate Sales

Home Sales & Prices Kingstons, Hansville & Port Gamble Jan 2014

January’s number of homes sold match December, but average selling price decreases.

2014 home sales in Kingston, Hansville & Port Gamble starts off matching December’s 13 homes sold. However, there was a sharp decrease in the average selling price. This month, 62% of home sales were distressed properties with a majority being Bank owned (REO’s). In addition, the sale for this month declined to the lowest value in more than 18 months at $185,900.

The Average initial asking price of homes sold in these areas has during the past 6 months been between $300,000-$500,000, with the exception of October when it was $280,000. This month, it dropped down to the lowest it’s been in over a year at $276,900.  We believe the January data is an anomaly and not indicative of a trend, so we expect to see the numbers increase and fall more in-line with seasonal and overall market trends in the coming months.

Here is some detailed data for home sales this month:

Average Original $ $276,900
Average Listing $ $243,900
Average Sale $ $227,733
Average Median $ $185,900
$/sq. ft. $123
# Homes Sold 13
# Distressed 8
% Distressed 62%
# Short Sale 2
# REO 6
CDOM 104
DOM 90

If you would like any addition information on real estate activity this month or prior months, feel free to contact us!

Brian Wilson, Broker; 360-689-2466

-and-

Jana Salmans, Managing Broker; 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Posted in Port Gamble Kingston & Hansville RE data | Leave a comment

Real Estate Radio Northwest – Brian Wilson Guest – Show Airs Sat. Feb 1, 2014, 2:00pm

It was a pleasure being invited as a guest onto the Real Estate Radio Network Program hosted by Nick Neal and Shelley Dudley. The program airs on KKOL Am 1300 Sat. Feb. 1, 2014 from 2:00 – 3:00pm & again on Sunday 2/2/14 at 6:00pm.  There’s a link at the top of the page at http://kkol.com/  to live internet streaming of the show during broadcast.

RealEstateRadioNorthwest_PromoArchives of the show are available at: http://realestateradionorthwest.com/

Topics include areas and properties in Kitsap County: Bainbridge Island, Waterfront, Seabeck and Driftwood Key boating community in Hansville.  We also discuss where to find some of the best deals in the market, information about REO’s, Short Sales and the process in purchasing a home. This may be enlightening if you haven’t purchased a home in many years or if you are a new Buyer.   We also talk about some of the many ways a good broker can add value and help both Buyers and Sellers through the process and how Buyers (and Sellers) are protected in a Purchase & Sale agreement.  We hope you’ll also be relieved to know how we make sure none of the Sellers debts become liabilities for a Buyer.

There is a segment about the current market situation in Kitsap County for Buyers and Sellers, lower inventory and firming prices.   As you might expect, some of the most compelling homes receive multiple offers and there are various strategies for dealing with this situation.

We actually ran out of time and didn’t get to several other topics we wanted to discuss including:  Determining home values, differences between Appraisal values, BPO prices, Tax Assesed Values, and Zillow Zestimates.   We also wanted to talk about strategies for a Seller to get top dollar when Selling and my crystal ball for the coming year. I’m looking forward to hopefully being invited back onto the show to talk about some of these and other interesting, relevant and helpful topics.

If you have any questions about any topics, mentioned or discussed on the show or if you would like to ask me any questions, please contact me anytime, I’d love to hear from you.

Thank You for visiting our Blog,

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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Bainbridge Island End of Year 2013 Home Sales & Price Trends

Bainbridge Island Dec 2013 & 18 Mo Prior homes sold data

Bainbridge Island Real Estate Report December 2013

Bainbridge Island Real Estate continues on its upward trend in homes sold from  its seasonal low in October. There were 36 home sales during December 2013. Though this  is a bit lower than the 41 sold during December 2012,  which were extraordinary, it is above the normal seasonal level we would expect and is indicative of a continuing strong sales trend in the coming year.

 

Distressed property sales on Bainbridge Island during December 2013 accounted for 19% of total sales. This is lower than the 22% in  Kitsap County as a whole, but was well above the typical levels we’ve been seeing on Bainbridge.  This increase in distressed property sales likely accounts for the lower average and median selling prices for homes Sold during this period.

On a high note, the average total days a home was on the market before selling was only 79, which is near the low during the previous 4 months.  So, despite an increase in distressed property sales during December,  homes are still selling quite quickly on Bainbridge Island

Here is the December 2013 Real Estate Data for Bainbridge Island:

Avg. Original $ $558,456
Avg. Listing $ $535,319
Avg. Selling $ $518,792
Avg. Median $ $458,778
Avg. $/Sq Ft $229
TTL # Sold 36
CDOM 79
DOM 73
# Distressed 7
% Distressed 19%
SS 5
REO 2

Thank you for visiting our blog. Feel free to contact either Brian or Jana, as we would love to answer any questions or help you with your real estate needs.  We hope you will visit our blog monthly for the most up-to-date information.

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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Kitsap County End of Year Real Estate Report 2013

December 2013 Kitsap County Real Estate

Kitsap County shows rise in home sales during December 2013, showing overall improvement in county as a whole.

There were 252 homes sold in Kitsap County during December 2013. This is an increase from the 243 we saw in November and it is also a 7% improvement in real estate sales from the end of 2012.

On average, homes sold during December in Kitsap County were on the market a total of 96 days. This is just slightly higher than last month and a few months prior.  However, compared with an average of 120 days last December, and similarly high time on the market as far back as 2011, homes are selling more quickly.   Generally we are seeing fewer homes being listed for sale and increasing homes being Sold.  If this continues through 2014, we expect to see increasing home prices and the market generally moving more toward being a Sellers market.  This means Buyers will have more competition, decreasing negotiating power and a decreasing selection of homes available, though this will vary depending upon the price points and market areas.  The unknown factor is the “shadow inventory” of Foreclosed REO’s.  If they continue to be released onto the market at the same rate as we’ve seen during the previous year, then the market should be able to easily absorb them and prices should remain on an increasing trend.

If you are a seller, we think this year will be a good opportunity to sell.  If you are a Buyer, even with tightening inventory and increasing prices, it’s still a great time to buy a home.  Moving forward rising interest rates will likely have the greatest negative impact on your buying power and rates are still compellingly attractive.

Feel free to contact us with any questions or tips!

Here is some additional real estate information on December 2013 in Kitsap County:

Avg. Original $ $312,006
Avg. Listing $ $299,094
Avg. Selling $ $293,510
Avg. Median $ $244,500
Avg. $/Sq Ft $144
TTL # Sold 252
CDOM 96
DOM 79
# Distressed 55
% Distressed 22%
SS 20
REO 35

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Posted in Kitsap County Real Estate Data | Tagged , , , , | Leave a comment

Poulsbo Home Sales December 2013 Trends & Historical Data

Poulsbo Home Sales & Prices December 2013

33 Homes were sold in December 2013, matching the previous year.

33 Homes were sold in Poulsbo during the month of December 2013, matching the same number of sales during December of 2012 , However; the average selling price was higher,  increasing by 13%.

We are seeing a normal Winter season decline in sales which is typical during the months of November  -  January, although the sales numbers are at an elevated level compared with last year.

It appears the year over year trend for increasing home sales in Poulsbo will continue during the month of January and we expect continuing strong sales throughout 2014.

The average and median prices for homes sold in Poulsbo during December 2013 were at their second highest for the year and the Median sold price was about 3% above the level from the same period a year ago.

Additional data on the month can be found in the following table:

Avg. Original $ $337,018
Avg. Listing $ $325,437
Avg. Selling $ $324,064
Median Sale $ $295,000
$/Sq ft $155
TTL # Sold 33
CDOM 103
DOM 62
# Distressed 7
% Distressed 21%
SS 2
REO 5

Thank you for visiting our blog.  If you are interested in buying or selling a home and don’t already have a favorite Broker,  please contact us, we would love to help you.

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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December 2013 Suquamish & Indianola Home Sales & Trends

Suquamish & Indianola Home Sales Data December 2013 & 18 Mo Prior

Number of Homes Sold increases both from November 2013 and previous year.

There were 7 Homes Sold in Indianola & Suquamish during December 2013. This is a jump from the 4 in November 2012 and the 5 during the same period last year.  The average selling price in properties also increased 30% from November.

There was only one distressed property sale in this area for December, making for only 14% of home sales being distressed which is the lowest in the past 7 months.

When we look at average $/Sq Ft of properties, $159 for December is one of the highest values over the past 12 months.

Indianola & Suquamish tend to be the most variable communities in Kitsap County when it comes to home sales trends. There is a high diversity of home types and price ranges in a rather small geographic area.  Despite this variability, home sales are improving and we  expect to see an increase in Homes sold during January 2014.

Avg. Original $ $301,057
Avg. Listing $ $286,257
Avg. Selling $ $278,771
Median Sale $ $225,000
$/Sq ft $159
TTL # Sold 7
CDOM 78
DOM 69
# Distressed 1
% Distressed 14%
SS 0
REO 1

Thank you for visiting our blog. We hope to see you again soon! As always, we would love to hear any questions you may have. Either Jana or Brian would be more than happy to help!

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

 

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December 2013 End of Year Home Sales Kingston, Hansville & Port Gamble

Home Sales Trends Kingston, Hansville & Port Gamble December 2013

Average & Median Selling Price of  Homes hit multi-year high in December 2013

The combined area of Kingston, Hansville & Port Gamble had 13 Home Sales in the Month of December. This is 86% more homes sold than during the same period in the previous year.

Not only did the number of homes sold show a great improvement, but the average selling price was phenomenal during December. The average selling price of $484,065 is the highest its been in the last 3 + years of our recorded data.   The Median selling price was also very high as high end homes comprised a large portion of sales  in this area for this month.

On another high note, Kingston, Hansville & Port Gamble experienced the lowest percentage of distressed property sales in over a year.   December 2013 has 15% distressed property sales, all of which were bank re-owned.  The last time we saw a lower percentage, was 8.3% November 2012.

We expect January to show an increase as well, if the previous years trends are any indication. January typically shows a great number of homes sold in the area.

Here is some additional information for December in Kingston, Hansville & Port Gamble:

Avg. Original $ $525,563
Avg. Listing $ $499,796
Avg. Selling $ $484,065
Median Sale $ $484,500
$/Sq ft $186
TTL # Sold 13
CDOM 75
DOM 75
# Distressed 2
% Distressed 15%
SS 0
REO 2

Thank You for visiting our blog. Feel free to contact either Brian or Jana with real estate questions in the Kitsap area. Visit often for the most up to date information!

Brian Wilson,Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

 

 

 

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