September was a great month for homes sold in Poulsbo. The number of homes sold was 38, which is one of the highest of the past 2 years! Further, home sales over the past 18 months continue to trend upward! 60% more homes sold this September than the previous year!
Home Sales in Poulsbo so far have largely bucked the normal and anticipated seasonal declines we see in the other parts of Kitsap County, and only had a slight unit decline from the previous month.
The average selling price for the Month of September was $279,135 with a median price of $281,336. These prices are a bit below the September 2011 prices, so perhaps aggressive pricing strategies partially account for the number of homes Sold staying at such a relatively high level.
As with many large areas around Kitsap County, there is a large variety in the type of homes sold here. Homes in Poulsbo range from waterfront estates to manufactured homes on leased spaces. Increased activity in either price range can tend to greatly impact the average and median selling prices, making monthly comparisons challenging. However, longer term comparisons show increasing sales and prices. We are also seeing the number of distressed property sales decreasing, but time will tell if this is a sustainable trend.
The number of distressed properties (REO’s, Bank Owned Foreclosures, and Short Sales) accounted for about 16% of the homes sold during this month. Yet, this is an improvement compared to 19% in August and about 38% last September, contributing to the overall improvement in the real estate market in Poulsbo.
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By Briana Wilson
reviewed by Brian Wilson, Broker
19723 10th Ave NE; suite 200
Poulsbo, WA 98370