(For the most recent data, go here )
By all metrics except total homes sold, November was a very good month for Real Estate on Bainbridge Island. There were 22 homes Sold and Selling prices were the highest they have been in the past 6 months, and were 14% above selling prices for the previous month! Compared to the November sales one year ago, prices were about 8% higher!Distressed property sales on Bainbridge Island were less than 10% of the total homes sold for the month, which is very good news indeed!
As in other markets, we do anticipate distressed property sales to increase over the coming months, but as has been the case for more than 18 months, they will likely remain less than in other areas of Kitsap County which should contribute to future home price stability and perhaps some firming.
There is no doubt that Bainbridge Island is a very special Real Estate market that is highly coveted. As we move forward, we anticipate that the Real Estate market on Bainbridge Island will likely be first in the County to benefit from increasing employment and a recovering economy.
Brian Wilson, Broker
John L. Scott Real Estate – Poulsbo