The number of Homes Sold in Poulsbo hit a high in June and have continued at near record levels for the last 3 months!
As we predicted in our analysis back in early June, Poulsbo, home sales did exceed a 3 year high in June 2013 and prices did increase. Home sales in in Poulsbo continued at near historic high levels for July & August and prices rose to a high in July but then moderated in August.
Compared with prices in August of 2012, the Average declined by 12.45% and the Median declined by 4.46%
Here’s a handy table to quickly compare August 2013 data with June, July and August 2012 data:
June was the first month in nearly 3 years in which there were no distressed home sales!
…however; in the month of July, distressed home sales jumped to 26% of the homes Sold, but then dropped again in August to only about 11% of the total homes Sold. There just isn’t consistent enough data to predict a trend yet, so we’ll be watching and let you know when we do see an emerging trend.
A look ahead:
Currently as of September 13, 2013 there are 209 Active home listings in Poulsbo. The Average and Median asking prices for these Active listings is $383,800 and $314,900 respectively.
There are 100 home sales in Poulsbo that are in some Pending Sale status. Of these, it appears about 30 will close during September, adding to the 15 that already closed; it appears sales will remain at near record levels. The reason we estimate only about 1/3 of the currently pending home sales will close in September is due to the number that are New Construction and Short Sales both of which have a long closing cycle.
After analyzing all of the various Pending status and Month-to-date Sold homes, the Average selling price in Poulsbo is trending toward $289,350, while the Median selling price is trending toward $275,703. Prices can vary from these trending values depending upon the precise mix of sales for any given month (new construction, distressed, high and low priced homes) but overall, these are the values toward which current sales are trending. We’ll update this in our next report to provide insight into ongoing home price trends.
There are some very high and very low priced homes currently on the market in Poulsbo, with 12 near or over $1 Million and 10 less than or near $100,000; so we could see some significant variations in monthly average prices if more or fewer of these get sold in any given month.
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John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370
Data Source: Northwest MLS (NWMLS)
The NWMLS, Brian Wilson or Jana Salmans do not guarantee the accuracy of this data and are not responsible for it’s accuracy. Data from the NWMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.