The number of homes sold in Poulsbo, including the areas of Lofall, Breidablik, Vinland, Scandia and Lemolo (NWMLS areas 164-166) decreased from 28 homes Sold in March to 18 homes Sold for the month of April 2012. What happened here? Why the decline, when the market has been so hot lately? The answer is that there was a lull before the storm, and the biggest activity hit the area at the end of March through April and is continuing. Since it takes 30 – 45 days for a Purchase & Sale agreement to close, the bulk of the increased sales have not yet occurred, and we are just seeing a downward blip that is not indicative of a slow-down.
Currently there are 97 homes that are Pending sale status in Poulsbo, so when I report data for the month of May, I think we will see a large increase in the number of homes sold, so hang-on. Anecdotal evidence indicates that a limiting factor for sales in this area may actually be a lack of inventory in the price range where the bulk of Buyers are looking, which is less than $300,000. Of course, other price points for desirable properties are also in strong demand, so if you’d like to know the current value of your home, contact us and we’ll be happy to provide you with a current market value and analysis. The bottom line is, if you have been wanting to sell and waiting for a good time to put your home on the market, right now is one of the best opportunities we’ve seen in quite some time.
Here are some other preliminary indicators of market strength moving forward:
The Average price per Sq.Ft. is increasing, and it looks like the Median price is also gaining.
The data for May will indeed be interesting, so stay tuned.
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–Brian Wilson, Broker
John L. Scott Real Estate
19723 10th Ave NE; suite 200
Poulsbo, WA 98370