There were 252 homes sold in Kitsap County during December 2013. This is an increase from the 243 we saw in November and it is also a 7% improvement in real estate sales from the end of 2012.
On average, homes sold during December in Kitsap County were on the market a total of 96 days. This is just slightly higher than last month and a few months prior. However, compared with an average of 120 days last December, and similarly high time on the market as far back as 2011, homes are selling more quickly. Generally we are seeing fewer homes being listed for sale and increasing homes being Sold. If this continues through 2014, we expect to see increasing home prices and the market generally moving more toward being a Sellers market. This means Buyers will have more competition, decreasing negotiating power and a decreasing selection of homes available, though this will vary depending upon the price points and market areas. The unknown factor is the “shadow inventory” of Foreclosed REO’s. If they continue to be released onto the market at the same rate as we’ve seen during the previous year, then the market should be able to easily absorb them and prices should remain on an increasing trend.
If you are a seller, we think this year will be a good opportunity to sell. If you are a Buyer, even with tightening inventory and increasing prices, it’s still a great time to buy a home. Moving forward rising interest rates will likely have the greatest negative impact on your buying power and rates are still compellingly attractive.
Feel free to contact us with any questions or tips!
Here is some additional real estate information on December 2013 in Kitsap County:
|Avg. Original $||$312,006|
|Avg. Listing $||$299,094|
|Avg. Selling $||$293,510|
|Avg. Median $||$244,500|
|Avg. $/Sq Ft||$144|
|TTL # Sold||252|
Brian Wilson, Broker; mobile: 360-689-2466
Jana Salmans, Managing Broker; mobile: 360-509-9684
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.