The number of homes Sold on Bainbridge Island during the month of August was 56 which exceeded the previous month (July), and set a new 5 yr. high. The trend of each months total exceeding the previous month has been continuing unbroken for the past 6 months.
Other good news representative of the relative strength of the Bainbridge Island Real Estate Market is that distressed home sales (bank owned foreclosures, REO and short sales) comprised only 7% of the total homes Sold. This is lower than the average in the County by a factor of nearly 3!
The average home price on Bainbridge Island was $581,554 in August, and remained in a very tight range for the third consecutive month. The median home price for August dipped to just under $500,000 but is not particularly representative of any trend, as the median home prices have been oscillating in fairly defined range with occasional large jumps one way or the other depending upon a variety of factors such as: the number of lower or higher priced priced properties sold in a given month, which have tended to sell in clusters, & the number of distressed properties in the mix, some of which have been in process for months.
August was another great month for Real Estate sales on Bainbridge Island and it remains a bright spot in Kitsap County.
Thank You for visiting our blog.
Brian Wilson, broker
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370