December 2013 End of Year Home Sales Kingston, Hansville & Port Gamble

Home Sales Trends Kingston, Hansville & Port Gamble December 2013

Average & Median Selling Price of  Homes hit multi-year high in December 2013

The combined area of Kingston, Hansville & Port Gamble had 13 Home Sales in the Month of December. This is 86% more homes sold than during the same period in the previous year.

Not only did the number of homes sold show a great improvement, but the average selling price was phenomenal during December. The average selling price of $484,065 is the highest its been in the last 3 + years of our recorded data.   The Median selling price was also very high as high end homes comprised a large portion of sales  in this area for this month.

On another high note, Kingston, Hansville & Port Gamble experienced the lowest percentage of distressed property sales in over a year.   December 2013 has 15% distressed property sales, all of which were bank re-owned.  The last time we saw a lower percentage, was 8.3% November 2012.

We expect January to show an increase as well, if the previous years trends are any indication. January typically shows a great number of homes sold in the area.

Here is some additional information for December in Kingston, Hansville & Port Gamble:

Avg. Original $ $525,563
Avg. Listing $ $499,796
Avg. Selling $ $484,065
Median Sale $ $484,500
$/Sq ft $186
TTL # Sold 13
CDOM 75
DOM 75
# Distressed 2
% Distressed 15%
SS 0
REO 2

Thank You for visiting our blog. Feel free to contact either Brian or Jana with real estate questions in the Kitsap area. Visit often for the most up to date information!

Brian Wilson,Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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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.

 

 

 

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Bainbridge Island Real Estate Prices Sept-Nov 2013

Bainbridge Island Home Price, Sales, Trends November 2013

Home sales on Bainbridge Island approach normal seasonal adjusted quantities, while prices remain strong

The Bainbridge Island Real Estate Market remains strong even while entering the normal seasonal slower period.¬† Though Homes Sold dropped significantly from an extraordinary 51 homes sold in September, to 29 in October & 32 in November, the average selling price remained high at $577,323 in November, and is comparable to the high values we’ve seen since last March.¬† Also, the November 2013 Median home price is about 6% above the median home price in November 2012

The 12 month moving average median home price was $468,358 in November, while the actual Median Selling price during the month of November was $505,000.  The September Median home price was the the highest in nearly 3 years, at $597,000!

Distressed property sales remain very low compared with Kitsap County as a whole, at 4% for September, 10% for October, & 16% in November, which is the highest level in the previous 7 months, but again relatively low compared with most other areas in Kitsap County.

Table 1 below shows home sales data for the previous 3 months:

September 2013 October   2013 November 2013
Avg. Original $ $649,269 $594,879 $619,322
Avg. Listing $ $631,514 $573,007 $598,452
Avg. Selling $ $615,631 $549,549 $577,323
Median Selling $ $597,000 $465,000 $505,000
$/sq ft $236 $286 $258
TTL # sold 51 29 32
CDOM 81 123 81
DOM 53 104 70
TTL # Distressed/% 2/4% 3/10% 5/16%
SS 1 1 1
REO 1 2 4

 

October 2013 Prediction (from Sep) November 2013 Predication (from Oct) December 2013 Prediction (from Nov)
Avg Selling $ $536,721 $547,747 $542,330
12 mo running avg Median Selling $ $454,338 $471,129 $468,358
Previous 12 months Low median $ $353,000
Previous 12 months High median $ $597,000

Table 1

Thank you for visiting our blog.¬† We invite you to subscribe to our RSS feed so you’ll automatically receive our data as soon as it’s posted.

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker, mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

by Briana Wilson, reviewed and edited by Brian Wilson

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.

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Poulsbo 3 Month Home Sales & Trends September-November 2013

Poulsbo Home Sales & Price Trends November 2013 & 18 months prior

Poulsbo home sales and average selling prices decrease from October, but best November 2012 home sales. Record number of homes Sold in October!

49 homes were sold in Poulsbo during October 2013, which is the highest monthly sales we have seen in the past 5+ years!  More impressive, is the relative consistency in high numbers of monthly home sales since May.   June through October have all showed sales near record levels between 40-49 homes.  November home sales decreased to 35, but still show a marked improvement from the 29 sold during the same period last year.

The average selling price between August & September remained virtually the same at $271,208 and the median price for homes in September was $259,500.

During October, the average selling price increased to $339,306, well above the 270K we have seen the past 2 months, and is the highest  in the past 18 months.    The Median selling price in October 2013 was $315,190 which was about 4.4% above the same period one year ago.  Clearly, October was the month to sell higher priced homes in Poulsbo.

November’s average selling price was $293,050, which is a bit weaker compared with October, and the Median dropped to $269,900 which is about 7% below the median from the same period one year ago.¬† A big factor in this is the increased number of lower priced new construction homes that comprise the data.

An indicator of a tightening market is the decreasing difference between the average initial asking prices compared with the average actual selling prices.¬† ¬†¬† Over the course of the year the average¬† difference has been about 3.08%.¬† During the month of September this dropped to 1.15% which is the lowest differential between average asking and average selling prices we’ve seen in more than 18 months.¬† This is closely linked to supply and demand.¬† With decreasing supply and increasing demand prices firm and that’s what this differential shows.

The average time on market dropped in September & November to 69 and 64 Combined Days on Market (CDOM).   These represent the lowest time on market in over a year and are another indicator of a tightening market.   Compare this to the CDOM in September of 2012 which was 132 days!

Distressed properties comprised a consistently lower percentage of total sales in Poulsbo than for the County as a whole, though the actual number of distressed home sales remains stubbornly consistent.

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September 2013 October   2013 November 2013
Avg. Original $ $274,351 $361,223 $305,188
Avg. Listing $ $271,606 $351,866 $300,424
Avg. Selling $ $271,208 $339,306 $293,050
Median Selling $ $259,500 $315,190 $269,900
$/sq ft $138 $162 $149
TTL # sold 40 49 35
CDOM 69 84 64
DOM 63 82 54
TTL # Distressed/% 5/13% 8/16% 6/17%
SS 2 5 1
REO 3 3 5

 

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200

Poulsbo, WA 98370

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by Briana Wilson, reviewed and edited by Brian Wilson

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.

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Kitsap County Home Sales September, October & November 2013

Homes Sales & Trends Kitsap County November 2013 & 18 months prior

Kitsap County Home Sales Moderate from record breaking streak , returning to a seasonalized normal with 243 home sales during November 2013.

Kitsap County Home Sales stayed strong during October 2013, with 330 homes sold. This is an increase from the 304 homes sold in September, and far above last the 243 during the same month last year.¬† The county remained on it’s record ¬†breaking streak from May through October, but returned to a more seasonally normalized level with 243 homes sold during November 2013.

October’s average selling price of $276,334 is a slight decrease from September and identical to August’s level. The median selling price was $230,000 in October and $244,400 in September.¬† Homes sold in September were on the market a relatively short average time of 85 days.¬† This continues the trend of the relatively low Combined Days On Market (CDOM’s) we saw in June, July & August. ¬† With the trend of increasing sales and decreasing inventory, we expect the CDOM to resume a decreasing trend with the early Spring market beginning in February.

The average selling price in November at $274,083 was similar to the Average Selling price in October.¬† With decreasing inventory and increasing demand, sellers recently have been getting their homes sold for prices much closer to their original asking prices than we’ve seen in the last year and prior.¬†¬† It is trending toward being a Sellers Market, so it’s a great time to sell your home in Kitsap!

Distressed properties accounted for 20% of homes sold in Kitsap during September, 24% in October, & 26% in November. Two-thirds of these were bank re-owned properties, while the rest were short sales. These are typical percentages for the County, as distressed property sales have ranged from 18-28% over the past year.   With relatively consistent quantities of distressed homes being placed on the market by banks, and with decreasing total monthly home sales,  we expect to see distressed properties comprising and increasing share of sales through the winter months.

Thanks for visiting our Blog. Be sure to sign up to our RSS feed to receive the newest data and trends for Kitsap County and our other reports!  As usual, we welcome any further questions you may have.

 

September 2013 October   2013 November 2013
Avg. Original $ $312,729 $297,586 $292,331
Avg. Listing $ $303,216 $283,533 $282,028
Avg. Selling $ $298,284 $276,344 $274,083
Median Selling $ $244,400 $230,000 $220,000
TTL # sold 304 330 243
CDOM 90 85 95
DOM 70 74 73
TTL # Distressed/% 60 /20% 78/24% 62/26%
SS 21 24 15
REO 39 54 46

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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Report by Briana Wilson, reviewed by Brian Wilson

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.

Posted in Kitsap County Real Estate Data | Tagged , , , , , , | Leave a comment

September-November Quarterly 2013 Home Sales in Kingston, Port Gamble & Hansville

Real Estate Sales Kingston, Port Gamble & Hansville November 2013

Kingston, Port Gamble & Hansville reach year high in average selling price.

Wow November!

It appears to have been an outstanding month for Real Estate in the Kingston, Hansville & Port Gamble areas with 18 Homes Sold. ¬† This is a decrease from the 28 homes sold in October, but look at the jump in the average selling price!¬† This is a high average selling price for the year at $404,788 and resembles November 2012’s high average selling price.¬†¬† It appears November is a prime month to sell higher priced homes in this area, which means they typically need to be on the market during August & September.

Twenty Eight (28)  Homes were  Sold in October, which was a 65% increase from September, but the Average asking and Selling prices declined from Sept. to Oct.   Though all prices jumped dramatically in November.   The average selling price in Nov 2013 was about 2.4% lower than Nov of 2012, while the Median Selling price was about 30% lower during Nov 2013 compared with Nov of the previous year.

Distressed property sales which include bank REO’s and short sale properties have varied widely from month to month, but overall, they still represent over 20% of the market on average.

There were 50% fewer homes Sold in September as compared with the record month we had in August but the number of monthly home sales in this area have been trending upward and each month for the quarter including Sept., Oct., and Nov., all had much higher numbers of home sales than the same months in the previous year by 31%, 40% and 50% respectively!

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September 2013 October   2013 November 2013
Avg. Original $ $300,862 $280,418 $438,272
Avg. Listing $ $287,950 $266,793 $418,946
Avg. Selling $ $278,664 $262,704 $404,788
Median Selling $ $255,000 $218,750 $275,000
$/sq ft $179 $128 $173
TTL # sold 17 28 18
CDOM 123 79 149
DOM 106 79 113
TTL # Distressed/% 3/18% 8 /29% 5/28%
SS 1 2 4
REO 2 6 1

Table 1

Brian Wilson, Broker: mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 By Briana Wilson, reviewed by Brian Wilson

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.

Posted in Port Gamble Kingston & Hansville RE data | Leave a comment

Indianola & Suquamish Real Estate Trends September-November 2013 Quarterly Report

Home Sales Trends Indianola & Suquamish November 2013

Average Selling Price Skyrockets for September.  Number of  Homes Sold Hits 4 year High in October. November Home Sales see seasonal decline.

Indianola & Suquamish have followed the expected seasonal trend of decreased home sales in November, and also reached a low average selling price for the year. But take a look at that average selling price in September! When we move to October, the number homes sold spiked to 17  for the month, which is a high for more than 18 months in this area.  The relatively low number of monthly home sales is a significant factor in large monthly price swings, but this certainly is a huge swing.

 

The average original price for homes placed on the market during September was $553,269, with an average selling price of $499,814. This is over a 50% increase in the price of homes sold compared to October Sales and over 34% above the level from Septemeber one year ago.

October was an outstanding month in terms of the number of homes sold in Indianola & Suquamish area.  Not only do we see the most homes sold in more than 18 months, but there were 55% more Sold compared with October 2012, however; average sold prices were 48% lower than during October one year ago.  So, more homes were sold at lower prices compared with October a year ago.

The average days homes were listed on the market before the sale finalized during September was 113, which is much different than the average DOM of 31 days we saw in August, but not unexpected for higher priced home sales and the typical seasonal slow down as we enter the winter season.¬† October’s average DOM dropped to 79, while time on market again extended during November to an average of 145 DOM.

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September 2013 October   2013 November 2013
Avg. Original $ $553,269 $277,453 $244,500
Avg. Listing $ $498,254 $267,453 $214,500
Avg. Selling $ $499,814 $251,194 $214,500
Median Selling $ $499,900 $200,000 $214,500
$/sq ft $164 $137 $145
TTL # sold 7 17 4
DOM 113 79 145
CDOM 113 79 145
TTL # Distressed/% 2/29% 4/24% 1/25%
SS 1 3 1
REO 1 1 0

Table 1

Brian Wilson, Broker; mobile: 360-689-2466

-and-

Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

 

 

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.

Posted in Suquamish & Indianola Real Estate | Tagged , | Leave a comment

Salt Waterfront Home Prices Sales & Trends in Kitsap August 2013

Graph of Salt Waterfront Home Sales Data Feb2012 - August2013

Graph 1 – Salt Waterfront Home Sales Data for the Period February 2012 – August 2013 in Kitsap County

In my previous Salt Waterfront home sales report on May 22, 2013, I discussed the brisk and increasing sales in this market segment and projected estimates of increasing numbers of sold properties.  In Fact May, June, July and August each saw increased monthly closed sales month over month.

I also projected increasing Median Selling prices, estimating that May would see the median selling price increase to $670,000 and June would decline a bit to $597,450.   Actual results were $495,000 in May, but June at $657,475 was in the Ball Park of my projection for May and then July also came in with a strong Median selling price at $625,000.

It appears the Pending Sales that I projected would close for each month all took a bit longer to close than projected, so May was delayed, and then June saw more of the closings that were projected for May and July saw continued strength.  

Sales in August were at a peak in terms of the number of homes sold, but the median price retracted back to about the May level as the sales activity continued to broaden across all types of Waterfront homes from fixers to exquisite estates.

There were 300% more homes Sold in August 2013 compared with August 2012, however; prices were much higher in August one year ago, so at that time the market was highly selective and predominately only special higher end properties were selling, while in August 2013 the market broadened out a lot and waterfront properties of all types were selling well.   See the table below for a quick comparison of monthly data.

Table of August 2013 Salt Waterfront  Home Sales Data in Kitsap County Compared

Table 1 – August 2013 Salt Waterfront Home Sales Data in Kitsap County Compared

 

Here’s a Graph for Salt Waterfront Properties, comparing the total number of¬† Homes Sold to the number of Distressed Homes Sold for August 2013 and looking back 18 months:

graph of Salt Waterfront Properties: Distressed vs Non Distressed Monthly Home Sales

Graph 2 – Salt Waterfront Properties: Distressed vs Non Distressed Monthly Home Sales

 

 

 

 

 

 

 

As you can see, this market segment continues to have low numbers of distressed properties (REO’s & Short Sales)

Table 2 below is snapshot showing the Current Active, Pending and Month-to-Date Sold homes as of Sept 20, 2013

table showing Current Salt Waterfront Market Activity in Kitsap as of Sept 20, 2013

Table 2 – Current Salt Waterfront Market Activity in Kitsap as of Sept 20, 2013

 

It appears we are seeing a normal seasonal slowdown in Waterfront Property Sales but it looks like they are heading to a level that will be about twice the number of sales compared with the same period one year ago.

Presently there is a fantastic selection of fabulous waterfront properties on the market to satisfy just about any desire or dream and while the market has definitely rebounded in terms of the number of properties being Sold, for now, prices have remained constrained.

If you are Buyer and you’ve been dreaming of owning a fabulous Waterfront property, it looks to us like there has never been a better time in terms of prices, low interest rates and selection.¬† In the last 3 weeks I’ve personally shown over 100 Salt Waterfront properties from Olympia to Camano Island to a variety of clients, mostly out of area buyers who are looking for a special waterfront retirement property, and I have never seen such fabulous opportunities in every area.

We know the Salt Waterfront market very well and¬† we can help you achieve your needs and desires whether you are looking to buy or sell anything form a rural cabin to a fabulous urban estate, so don’t hesitate to introduce yourself, we’d love to talk with you!

Thank You for visiting our blog. We hope you will bookmark it in your browser and come back often, or we invite you to Get the RSS feed

Brian Wilson, Broker; mobile: 360-689-2466
-and-
Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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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.
Posted in Salt Waterfront Home Sales Data Kitsap | Tagged , , , , , | Leave a comment

Bainbridge Island Home Prices, Data & Trends: Jun-Aug 2013

A Record Number of Homes Sold on Bainbridge Island, exceeding a 5 year high in July and matching the 5 yr. high in June.

graph August 2013 & Previous 18 months of Home Sales Data for Bainbridge Island

August 2013 & Previous 18 months of Home Sales Data for Bainbridge Island

As we predicted in early June, Looking ahead, it appears the Real Estate market on Bainbridge Island is continuing an increasing price and sales trend.

The number of homes Sold on Bainbridge Island were very strong in June, peaked in July and then slightly pulled back in August, but remained within the normal expected seasonally high range.

In early June, our analysis of the mix of Pending Sales indicated Average prices would slightly decline in June and then rebound strongly in July and beyond, however; the actual closed sales were a bit out of synch from our projections, so Average Sold Prices in June were a bit higher than in July, but then August prices rebounded even higher than June levels.  So, we correctly predicted the trend, but our estimate of the actual individual homes that would close in each month varied a bit from the actual results.

Below is a five year graph that shows the number of monthly Active, Pending and Sold homes on Bainbridge Island.  As you can see, the inventory of available homes for sale (light green) has been at the low end of the 5 year range, while the number of Sold homes (dark green) has been at or exceeding the 5 year high.  This is a general scenario in which the time on market decreases, absorption rate increases, months of supply decreases and all of this points to increasing prices.  Though we expect to see a typical seasonal decline in monthly home sales in the coming Winter months, we will be watching closely and providing our insights.

5 yr graph of monthly Active, Pending & Sold homes on Bainbridge Island

5 yr graph of monthly Active, Pending & Sold homes on Bainbridge Island

 

 

 

 

 

 

 

 

 

 

 

 

The Median price for Sold homes, shows the same trend as the Average prices, with a slight dip from June to July while rebounding strongly in August.¬†¬† In fact, the Median selling price for a home on Bainbridge Island in August 2013 was at it’s highest point in 12 months and 6.6% above the August 2012 level.

Table comparing August 2013 Home Sales data on Bainbridge Island

Table 1 – Comparing August 2013 Home Sales data on Bainbridge Island

 In table 1 above, we have also included a new quantitative metric; the difference between the last average asking price at which offers were accepted and the final Average Sold price.  In other words, looking at the August 2013 data, the Average final Selling price  was 3.21% below the last asking price, which was also lower than the Average initial asking price by 2.42%.  

So, using the August 2013 data as an example, on average, the price where willing Buyers and Willing Sellers came to terms, was 5.63% below the average initial asking price.¬† We’ve been showing this data in our monthly graph with the 3 vertical bars since publishing this blog.¬† For any given month, the left bar is the average initial asking price, the middle bar is the average asking price when an offer was accepted and the right bar is the average selling price.¬† This allows you to quickly see on average how strong prices are holding compared to the average initial asking prices.

We decided to include the numerical values here as we believe it is a good relative indicator of market heat and psyche and is helpful to both Sellers and Buyers to provide reasonable average expectations.¬† Looking at the August 2013 Data, a buyer is not likely going to be successful coming in with an offer that is more than 5.63% low, and Sellers need to expect some amount of price concession form their initial asking prices… individual properties may vary, but on average this is where prices settled in the market between willing buyers and willing sellers.

We generally interpret this data in the following way:   From the seller view, a smaller negative number means sellers on average did not feel compelled to discount  their last asking price as much because of confidence in getting another buyer if the current offer were to fail, or alternately with a larger differential, sellers have made more price concessions and may be feeling more financial stress and uncertainty about the market with fears of declining prices.

Conversely, on the buyer side a lower negative (or in some cases positive) differential means buyers on average did not negotiate lower prices (or paid up) likely out of fear of losing a deal to another buyer, indicating increasing competition among buyers and a rising home market. ¬† Buyers may also fear rising interest rates and might therefore be compelled to pay up to get the deal done before rates rise….to a point.

We think this a good metric of how buyer centric or seller centric the market was in any given month.  Of course we also see this in the prices themselves, but those can be affected by variations in the mix or composition of home price categories that are purchased in any given month, while we think the average price differential data is less affected in this way.

Here’s a look at the current market activity:

Table 2 shows the Pending, Contingent and Month-to-date home sales activity and prices on Bainbridge Island as of 9-13-13:

StatusQuantityAverage PriceMedian Price
Pending32$625,817$527,450
Pending Inspection29$556,524$499,000
Other Pending (PF, PSS) & Contingent6$711,334$771,667
Sold Month-to-Date23$609,180$555,000
Active Listings

(Number > $1Million)
152

(31)
$872,601$575,000
Highest Priced Home
(10,499 Sq.Ft., 4 Bdrm, 4.5 Bath, 12+ Acres)
1$9,800,000
Table 2

                                                                

Here’s our projection for home sales and prices on Bainbridge Island for September 2013:

It appears the number of homes that will be Sold in September is on track to nearly meet the August levels, though may fall just a bit short.  In any case, it looks quite certain that home sales and prices for the month of September 2013 will be significantly above the September 2012 levels.

Analyzing the current list of Pending home sales along with the month-to-date Sold homes, it appears that the Median selling price will be rising again during the month of September to a new 13 month high, and could set a new 18 month high.  The Average price also appears to be on the rise.

Thank You for visiting our blog. We hope you will bookmark it in your browser and come back often, or we invite you to Get the RSS feed

Brian Wilson, Broker; mobile: 360-689-2466
-and-
Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

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.
Posted in Bainbridge Island Real Estate Data | Tagged , , , , | Leave a comment

Kitsap County Home Sales Data, Comparison, Trends Jun-Aug 2013

A Record Number of Homes Sold in Kitsap County during June, July & August Exceeding a 5 year high for each month, with June being the peak.

Graph showing Kitsap County home sales exceed 5 yr. high

Monthly home sales in Kitsap County reach over a 5 Yr. High

Back in early June we predicted that home sales in Kitsap County would hit a record number. WOW, did they ever! We predicted there would be 375 homes sold in June, but the actual number was a monumental 397! June sales were a peak, however; home sales continued selling in record numbers for the months of July and August 2013.

Average selling prices were similar in June and July, but were lower than the same period a year ago. Median prices were also slightly below the same period a year ago, though the August 2013 Median selling price was identical to the August 2012 Median selling price.

Here’s graph showing a 5 year history of monthly home Sales in Kitsap County, along with the monthly Active inventory and Pending home sales:

5 Year Chart of Acitve, Pending & Sold Listings

5 Year Chart of Active, Pending & Sold Listings (click to enlarge and then use the back button to return)

 

 

 

 

 

 

 

 

Here’s a handy table that will give you a quick comparison of August Data with the previous two months and the data from the same month one year ago:

Table of Kitsap Home Sales Data

Table of Kitsap Home Sales Data

Here’s a look at the current market data including current Active listings, Pending sales data and Month-to-date Sold data (as of Sept. 13, 2013):

There are currently 1603 Active home listings, 746 Contingent and Pending Sales of all categories (Pending Feasibility, Pending Backup, Pending Short Sale, Pending Inspection, and Pending) and 119 Sold Homes.

The Average Price for all Active listings is $363,965, and the Median is $269,900. The Average Price for all Contingent & Pending Sales is $268,861 and the Median is $224,950. The Average Price for the Month-to-date Sold homes is $308,968 and the Median is $249,950, which is almost identical to the Median price for all of the Sold homes during the previous month of August 2013.

County wide, on average, the differential between the actual average Selling Price and the Average Price where a home went Pending Sale is about -5% This differential dropped to -3.04% in June when sales were at a frenzy and increased again to -5.54% in July and -5.15% in August.

Looking ahead:

For the month of September 2013, we project the number of homes that will be Sold will decline from these extraordinary high levels but will remain at a historically high level of somewhere around 310 +/- homes. Prices appear to be coming under some pressure as there still remains a seemingly unending inventory of distressed homes comprising a significant portion of total home sales County-wide, with pockets of higher concentrations in certain areas. Another factor adding to price pressure is an increasing inventory of available homes for sale and a significant inventory of new construction homes aggressively priced.

Thank You for visiting our blog. We hope you will bookmark it in your browser and come back often, or we invite you to Get the RSS feed

Brian Wilson, Broker; mobile: 360-689-2466
-and-
Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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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.

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Poulsbo Home Sales Data, Comparisons & Trends: June – Aug 2013

The number of Homes Sold in Poulsbo hit a high in June and have continued at near record levels for the last 3 months!

Poulsbo Sales & Prices August 2013 & 18 Mo Prior

Poulsbo Home Sales remain at a Record High trend in August 2013, with only a slight decrease from June Homes Sold.

As we predicted in our analysis back in early June, Poulsbo, home sales did exceed a 3 year high in June 2013 and prices did increase. Home sales in in Poulsbo continued at near historic high levels for July & August and prices rose to a high in July but then moderated in August.

Compared with prices in August of 2012, the Average declined by 12.45% and the Median declined by 4.46%

 

Here’s a handy table to quickly compare August 2013 data with June, July and August 2012 data:

Table showing monthly home sales data in poulsbo

A quick comparison of Monthly Home Sales Data in Poulsbo

June was the first month in nearly 3 years in which there were no distressed home sales!

…however; in the month of July, distressed home sales jumped to 26% of the homes Sold, but then dropped again in August to only about 11% of the total homes Sold. There just isn’t consistent enough data to predict a trend yet, so we’ll be watching and let you know when we do see an emerging trend.

A look ahead:

Currently as of September 13, 2013 there are 209 Active home listings in Poulsbo. The Average and Median asking prices for these Active listings is $383,800 and $314,900 respectively.

There are 100 home sales in Poulsbo that are in some Pending Sale status. Of these, it appears about 30 will close during September, adding to the 15 that already closed; it appears sales will remain at near record levels. The reason we estimate only about 1/3 of the currently pending home sales will close in September is due to the number that are New Construction and Short Sales both of which have a long closing cycle.

After analyzing all of the various Pending status and Month-to-date Sold homes, the Average selling price in Poulsbo is trending toward $289,350, while the Median selling price is trending toward $275,703. Prices can vary from these trending values depending upon the precise mix of sales for any given month (new construction, distressed, high and low priced homes) but overall, these are the values toward which current sales are trending. We’ll update this in our next report to provide insight into ongoing home price trends.

There are some very high and very low priced homes currently on the market in Poulsbo, with 12 near or over $1 Million and 10 less than or near $100,000; so we could see some significant variations in monthly average prices if more or fewer of these get sold in any given month.

Thank You for visiting our blog. We hope you will bookmark it in your browser and come back often, or we invite you to Get the RSS feed

Brian Wilson, Broker; mobile: 360-689-2466
-and-
Jana Salmans, Managing Broker; mobile: 360-509-9684

John L. Scott Real Estate
19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

jls_logo_trans_200x60

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.

Posted in Poulsbo Real Estate Data | Tagged , , , , , | Leave a comment