Bainbridge Island real estate sales during the month of November showed declines compared to October. This seasonal market decline was expected as we approach the slower winter months and will likely continue until about mid-February.
The total number of homes sold during the month of November was 28, while October had 48. October had extraordinary strong seasonal sales while November is exhibiting more normal seasonal levels. Thus, the steep decline from October to November in the number of homes sold is not indicative of a poor market. In fact, when we look the same period in 2011, only 22 homes were sold. Thus, November 2012 had a 27% increase in home sales compared to the same period last year!
The average and median selling price for November was $546,141 and $425,000, while October had $614,545 and $498,250. The average selling price and median price for November 2012 and November 2011 were nearly the same, again reflecting a typical and normal seasonal real estate market on Bainbridge Island.
A positive indicator is the number of distressed property home sales (REO’s & Short Sales) declined by 50% from October to November and represented only about 11% of the total homes Sold during November. We like this data.
Thank You for visiting our Blog. If you are thinking of Selling or Buying a home in the area, feel free to contact us, as the slower winter season can have great opportunities and we would be happy to discuss your particular situation.
By Briana Wilson
Reviewed by Brian Wilson, Broker
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370