Single Family Home Sales in Kitsap County 4/2010 – 9/2011

Graph showing Kitsap County Residential Home Sales & Prices

Note: In the event you got to this article from an older link, here is a link to the newest data for this category of monthly home sales in Kitsap County 

This graph shows the Monthly Average Original Asking Price, the Average Listing Price at which an offer was received and then the Average Selling Price.  It also overlays and shows the monthly total number of  Single Family Residential Homes Sold in Kitsap County from April 2010 – September 2011 plus month-to-date data through October 21, 2011.

Reviewing this data, there are some interesting trends that seem to be developing.  The actual Selling price has been declining for each of the previous 3 months and appears to have declined about 8% County-wide during these months.

In the past 2 Months, the average County-wide Selling prices have dropped to the lowest level in more than 2 years!  

I believe a significant contributor to this pricing weakness is the relentless REO (Bank Owned) inventory which continues to put heavy pressure on the market, and is weighing much heavier on some communities & neighborhoods (Bremerton, Port Orchard) while others with less REO activity (Bainbridge Island) are seeing less direct impact.

We are also seeing what I’d call capitulation from some sellers who have had their homes on the market for much longer than the average times and are finally pricing their homes to the market, which in many cases means they are becoming Short Sales.

Lastly, sellers in general are much more aware of current market conditions than ever before, and therefore are more willing to aggressively price their homes to sell in the current market.

I believe with low prices and historically low interest rates; that now is a great time to be looking to buy a home.  It’s actually an exciting time to be a Buyer.   I also believe this is now a terrific time to be considering investment properties of all kinds, particularly if you are a cash Buyer or have at least 25% to put down. 

-Brian Wilson, Broker
John L. Scott Real Estate – Poulsbo

About admin

Presently I'm a full time Real Estate Broker with John L. Scott Real Estate in Poulsbo, WA. In Kitsap County, our team of two earned one of only four "Presidents Elite" awards for Sales in 2010! I received my degee in Electrical Engineering (BSEE) from the University of Washington in 1999 and then worked as a Sr. System Engineer for Cerner Corp. in Kansas City, MO. I worked on IBM/AIX Servers running Oracle Databases, and MS Windows workstations on the client side installing, updating, and educating clients in the Hospital & Healthcare industries. Previous to all this, I co-founded 2 electronics companies which designed and manufactured a variety of electronic products including test equipment for Volve Penta and Volvo Cars of N. America, Marine Sonar equipment and fish finders, and then our own unique non-intrusive unltrasonic tank fluid monitoring system, which found applications in diverse industries including: cosmetics, nuclear, food, chemicals and semi-conductor processing. In these ventures my positions varied from product design, product development management, and marketing. If you haven't see the new Real Estate Site, for my partner Jana Salmans and I, please visit: http://www.JanaAndBrian.com Thank You for visiting, please come back often. -Brian Wilson (admin)
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2 Responses to Single Family Home Sales in Kitsap County 4/2010 – 9/2011

  1. Peggy Carver says:

    Awesome job Brian!

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