Real Estate sales in Poulsbo during October showed 7% gains for the Average and Median Selling prices with the Average going from just over $279,000 in September to nearly $298,000 in October. The median selling price jumped from just over $281,000 in September to $302,000 in October.
While all gains are good they are less than the gains in the other areas in North Kitsap. Compared with the County-wide data, the average selling price in Poulsbo had a lower gain, while the Median price gain was higher. It’s important to keep in mind that while it is encouraging to see gains month over month, the longer term trends are most important. Looking back to the same period (October) a year ago, we see the number of sales are identical at 33 homes Sold but the average selling price is higher by just over 2%.
As compared to some of the other areas in North Kitsap, Poulsbo has had a longer term trend of consistent monthly gains in unit sales and selling prices that have fluctuated in a relatively narrow band, but have been biasing higher over the last few months. We see normal seasonal unit sales declines with continuing firm pricing. This is all good. If you are a future Buyer, you can expect firming prices but the market is not frenzied and leaving you behind, yet.
If you are a seller, you can expect to sell you home in a reasonable time frame, which has been just over 100 days on average, but was less than 80 days in October. By the way, there are some very good strategies we know and would share one-on-one that will statistically get a deal on your home in less than 30 days.
The average selling price is getting negotiated down less than it was a year ago (about 2.2%) from the last asking price where an offer was received, and there are still Buyer closing costs being negotiated, but dramatic “fire sale” pricing (by Poulsbo standards anyway) appears to be a thing of the past….while keeping one raised eye at the macro economic factors.
Distressed property sales in Poulsbo for October was at 5 REO (Bank Owned) or Short Sales, while there were 6 during the month of September. This was below the County-wide average and inline with the Bainbridge Island data, since Poulsbo has not been as severely impacted by distressed home sales as some other areas in Kitsap County
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19723 10th Ave NE; suite 200
Poulsbo, WA 98370