Real Estate prices (both average and median) and the number of monthly homes sold have increased every month since the beginning of 2013. This increasing trend parallels the overall data for Kitsap County as a whole but is even more dramatic on Bainbridge Island. Since the beginning of the year, average home prices have increased 26.4% moving from $463,907 to $586,390. Median home prices have risen a dramatic 39.7% going from $353,000 to $493,000 and monthly sales have increased 62.5%.
Looking ahead to the April data, it appears that the increasing trend will remain intact as there are currently 25 closed sales as of 4/20 but there are currently 77 homes under contract and “Pending Sale”. Given typical closing time cycles, it appears there will be in excess of 43 homes that will be closed sales by the end of April.
If you are not currently working with a broker and you are planning to purchase a home on Bainbridge Island, we would love to talk with you about your wants and needs and help position you to act quickly the moment the right property is listed for sale. As the market continues to heat up on the island, we are seeing many of the best properties going under contract in less than a week with many in just a day or two.
We have the tools to send you real time listing links to the newest listings the moment they appear on the NWMLS. With our program, you’ll have a competitive advantage ahead of most other buyers.
We’re friendly, highly knowledgeable and service oriented and would love to assist you, so contact us at your earliest convenience.
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John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370