In January 2014 we see a marked improvement in number of homes sold and decreased days on the market (DOM) compared to January 2013. However, average and median selling price are nearly identical and we see an increase in distressed properties this year.
Distressed properties accounted for 32% of homes sold in Kitsap County during January. Most of these homes were bank Owned REO’s. The actual number of distressed properties were within an average range (71) However; with seasonally lower numbers of total homes Sold, they represented a higher percentage of the total sales. The last time distressed properties comprised this percentage of the market in March 2012. We expect the number of monthly distressed homes sold to remain in a consistent range, but as the number of total homes Sold increases during the Spring Market, we expect to see distressed sales to again comprise the low to mid 20% range.
Many of the areas in the county had low average selling prices and median sale prices, which is reflected in the county’s data for this month.
Here is additional data for real estate activity in Kitsap County during January 2014:
|Average Original $||$276,698|
|Average Listing $||$264,937|
|Average Sale $||$256,519|
|Average Median $||$217,975|
|# Homes Sold||220|
|# Short Sale||19|
As a whole, Kitsap County real estate has been booming! We saw some of the largest amount of home sales this past summer seeing and can only be expecting more good things to come. Feel free to contact us about buying or selling a home as we move out of the winter season into the busy season!
Brian Wilson, Broker; 360-689-2466
Jana Salmans, Managing Broker; 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.