Market Summary Data for Bainbridge Island Dated May 24, 2011
(If you want the most recent data, go here )
Due to a large number of new listings in this time period, we feel it is important to provide timely updated statistics
In the previous 28 days (April 26 – May 24 2011):
Total Number of Properties listed on the NWMLS (Active Status): 286
Number of Properties Pending or Sold: 34
Number of Properties Pending Inspection, Pending Backup or Contingent: 24
Conclusion:
The total number of Pending+ Sold Properties is the largest number since about June of 2010 and very close to the same data for 2010 at this time of the year.
The current ratio of Pending+Sold to the Total Active properties on the market, indicates a very strong Buyer Bias which typically leads to a future drop in the Median & Average Selling Prices.
Currently:
Median Price of all Active Listings: $560,475
Average Price of all Active Listings: $841,950
From April 26 thru May 24:
Median Price of all Sold Listings: $499,000
Average Price of all Sold Listings: $565,479. This is near the low for the previous 18 months, during which time there have only been 4 other months where the average Selling price has been lower.
Other Interesting Stats:
Total Number of Active Listings being offered at $1,000,000 or more: 68
There are 2 listings over $8,000,000
Total Number of Listings Sold in the previous 12 Months that were $1,000,000+: 20
In this reporting period there are only 14 REO (Bank Owned Properties) among all the Active, Pending & Sold Which is much less than the County & National Averages. There are 26 Short Sale Properties among the Active listings. As a percentage of total properties, this is also less than the statistics for the County as a whole.
-Brian Wilson (admin), Broker
John L. Scott – Poulsbo
