Poulsbo Real Estate Report for April 2013; Home Sales, Prices Trends

Posted on May 20, 2013 by Brian Wilson

There were 33 homes sold in Poulsbo during the month of April 2013 which is a 57% gain from the previous 3 month average, but about in line with the sales we typically see in the late Spring and Summer in Poulsbo.

graph of Poulsbo home sales data for April 2013

Poulsbo home sales data for April 2013

Both the median and average home prices increased from the previous month, with the median going from $230,000 to $269,000 and the average moving from about $251,000 to approximately $262,000, however; home prices in Poulsbo are still below the prices seen at this time last year and about 5.45% below average median price over the previous year.

Looking ahead at the data for May, sales are happening at a brisk pace and increasing.  There are currently 114 homes in all “pending sales” categories with 33 of these being new construction, which have about a 5 month closing cycle.  It appears the number of homes that will be sold during May will rise to near record levels and continue at this high level at least through July.

Distressed home sales currently appear to be declining in Poulsbo as they represent less than 16% of the total number of “Pending Sales”.  Short Sales represent about 10% of the backlog of “pending home sales” while bank owned foreclosures (REO’s) are only about 6% of the total pending home sales.

The median selling price for the sales that have closed thru 5/20 is $272,000 and the average is $277,500, so the trend for prices is increasing in synch with an increasing number of resale home sales.

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

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

Indianola & Suquamish Real Estate Report for April 2013

Posted on May 17, 2013 by Brian Wilson
Graph October_2011_thru_April_2013_Suquamish_Indianola

Indianola & Suquamish Home Sales Data, April 2013

If you were sent to this page and it happens to be an older post, you can get the most recent post for these areas here

There were 5 homes Sold in the combined area of Indianola and Suquamish during the month of April 2013.  This is the same number of homes that were sold during the same period one year ago and for the previous 6 months, the number of monthly home sales has been in a very tight range from 4 to 7.

With few sales, it is difficult to extrapolate particularly meaningful results from the data, but for consistency in monthly reporting the median selling price during April was $275,000 and the Average was $295,200.  Both of these are lower than during the same period one year ago.

Some great news is that for the first time in over a year, there were zero (0) distressed sales for the month of April!  Reviewing the Pending sales, it appears that about 21% of them are distressed which is at the low end of the range for these areas since we’ve been tracking the data.

Looking ahead, there are currently currently 27 pending sales (22 if the Short Sales are removed) so we anticipate a large increase in the number of home sales that will be closed in the next couple of months.  It appears however; that a large number of the currently pending sales are in the lower price ranges, so the estimated median selling prices for these pending sales will be in the $200,000 range.

Currently, as of May 17, 2013 there are 35 Active listings (homes for sale) in Indianola and Suquamish with a median asking price of about $325,500 and an average asking price of about $446,000.  There are 3 homes for sale in the area with an asking price over $1Million and a couple more that are very close to this level.

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

Posted in Suquamish & Indianola Real Estate | Leave a comment

Home Sales Information for Hansville, Kingston & Port Gamble April 2013

Posted on May 8, 2013 by Brian Wilson
Graph of home prices in Hansville, Kingston & Port Gamble

April 2013 Home prices in Hansville, Kingston & Port Gamble

There were 17 homes sold during April in the combined areas of Hansville, Kingston and Port Gamble which was only 1 home less than were sold during March.  Prices however had a major turn to the upside, with the Median selling price during April jumping from about  $216,000 the previous month to $310,000 (+ 44%) .  Average selling prices also rose substantially from just over $255,000 the previous month to nearly $317,000 (+24%). 

Looking ahead to the data for the month of May, it appears that home sales in these areas are brisk and increasing.  In fact the data projects that we will be very close to setting a new high for the number of homes Sold going back more than 18 months.  It also appears that the Median selling price will moderate a bit lower and my projection shows it heading toward about $260K for May.  The average Selling price appears to be holding firm or perhaps increasing a bit as there are a couple of high priced homes that may close in may which would keep the average selling prices at about the level seen during April.

Stay tuned and come back next month and we’ll have the actual data for May and then we’ll see how close my projections were.

Thank You for visiting our blog at www.RealEstateSounder.com or www.mykitsaprealestate.net/wordpress.  We hope you find the data useful or at least interesting and we invite you to subscribe to Get the RSS feed.  If you have any comments, please put them in the comment area at the bottom of this post.

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

jls_logo_trans_200x60

19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

 

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

Real Estate Sales in Hansville, Kingston & Port Gamble March 2013

Posted on April 20, 2013 by Brian Wilson
Graph of Hansville, Kingston, Port Gamble home sales March 2013

Hansville, Kingston, Port Gamble home sales & Prices updated for March 2013

March was a good news-bad news month for home sales in Hansville, Kingston and Port Gamble.  During March there were 18 homes sold which is well above the number sold during the same period a year ago and is the third consecutive month with an increase in the number of homes sold monthly.   Prices however are another story, with both the average and median selling prices dipping to the lowest level in 5 months and below the price levels for the same period one year ago.

Looking ahead at the data for April, it appears we will see continuing solid results for the number of homes sold as there are currently 18 “Pending Sale” and 10 that are “Sold” month to date for April (as of 4/20),  This area experiences relatively large swings in monthly data, so if you are interested in this market area, keep watching as the data can vary significantly month-to-month but the overall positive data in Kitsap County as a whole, will have a positive impact on this area moving forward.

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

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

Real Estate Sales in Indianola & Suquamish for March 2013

Posted on April 20, 2013 by Brian Wilson
Graph of Home Sales & Prices in Indianola & Suquamish March 2013

Home Sales & Prices in Indianola & Suquamish March 2013

Home sales in Indianola and Suquamish showed modest gains during March with 6 homes sold, as compared to February with only 4.   During March the average home price was $263.100 which was and increased of 12.62% compared with the February price of $233,625.  The median selling price of $265,000 during March was also higher by 3.72% compared with the February data.

Looking ahead to April, it appears that sales will be higher as there are currently 22″Pending Sales” and 2 closed sales month to date as of 4/20

This area continues to have large monthly variations in the number, type, and price ranges of homes that are sold, so it is very difficult to make any meaningful projections about prices or sales in this combined market area.  What we can assume and predict moving forward is that overall, home sales and prices here will be affected by the positive County-wide data and the positive activity in neighboring communities.

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

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

Poulsbo Real Estate Sales Report for March 2013

Posted on April 20, 2013 by Brian Wilson
Graph of Poulsbo Real Estate Sales March 2013

Graph of Poulsbo Real Estate Sales March 2013

Real Estate sales in Poulsbo for the month of March 2013 once again appears to be a bit more subdued compared with Kitsap County Data as a whole and the neighboring hot market of Bainbridge Island.

During the month of March there were the same number of homes sold as were Sold during February.  The average and median home prices, however;  declined during March compared with both January and February.  In fact home prices hit their lowest level in Poulsbo since March of the previous year.  What’s going on here?  It’s important to consider that home sales in Poulsbo had maintained abnormally high levels throughout the Fall and Winter and never dipped to the more normal seasonal lows we would have expected.

There is also some good news in that the data for March 2013 compared with March of the previous year is very similar so we could say we are actually seeing normalized data for this time of year in Poulsbo.  While this may not be particularly comforting if you are a seller and home sales in the rest of the County are booming, there is in fact more happening than meets the eye and there’s a wave of sales activity that will be closing in Poulsbo during April and beyond.

Here’s what is happening with home sales here in real time: Currently there are 65 homes under contract in Poulsbo that are “Pending Sale” and as of 4/20 there are 20 closed sales.  Considering the normal closing cycle time frame, we are expecting to see at least 25 of the Pending sales close in April.  If this occurs as anticipated, April home sales will jump to approximately 45 which will be at or near a record number of homes sold in one month in Poulsbo going back more than 18 months.  So, hang-on, the sales wave that has hit the rest of Kitsap County is hitting Poulsbo right now!

Another important factor that needs to be considered are the 23 new construction pre-sale homes that are currently under contract in Poulsbo.  These new construction home sales have a much longer closing time cycle of about 5 months compared with 45 – 60 days for existing home sales.  So, while the sales numbers that have actually closed appear a bit anemic compared with the rest of the County, there are actually many more sales being made, but they are just taking longer to close.

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

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

Bainbridge Island Real Estate Sales for March 2013

Posted on April 20, 2013 by Brian Wilson
Graph of Bainbridge Island Real Estate Data March 2013

Bainbridge Island Real Estate Data March 2013

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.

Thank You for visiting our Blog.  We hope you’ll bookmark our site
or 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

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

Real Estate Sales in Kitsap County March 2013 & 18 Mo. of Data

Posted on April 19, 2013 by Briana Wilson

Note: In the event you got to this article from an older link, here is a link to the newest data for this category of monthly home sales in Kitsap County

Kitsap County Real Estate Sales Graph for March 2013

Kitsap County Real Estate Sales Graph for March 2013

March was a great month for Real Estate in Kitsap County. There were 248 Homes Sold in March which is approximately a 20% increase from February and over 10% more than the same period last year.

We are also seeing a trend of increasing home sales and prices with month-over-month gains in sales and prices for the first quarter of the year.

Distressed property sales (Short Sales & Bank Owned REO Sales) slightly increased from 25% of sales in February to 27.8% in March but were still significantly less than the 37% level during March 2012.  You might also be interested to know that REO foreclosure sales outpaced Short Sales by nearly 2:1.  Out of the total of 69 distressed properties Sold during March, 44 were REO’s and 25 were Short Sales.  Short Sale transactions continue to be challenging and frustrate many Buyers with long delays and changes to the terms along the path to close.  For these reasons many of these deals end up flipping.

The Average Selling Price of Homes in the County during March was up nearly 8.5% from the previous month to $280,750.  This is almost identical to the average selling price for the same period one year ago.  The Median Selling Price of  $229,500 during March was also higher than the previous month by about 7% and it was also higher than the same period one year ago by the same amount.

The average number of Days on the market for Real Estate that is Sold in Kitsap County is about 90 Days, & the Combined Days On Market is about 120.

Looking ahead at the data for April, we are in the middle of a sales explosion!  There have already been 146 homes Sold thru 4/19, but the wave that is coming, shows over 450 Homes that are under contract and “Pending” sale and another 201 that are recently under contract and “Pending Inspection”.  There are also 137 homes under contract that are “Pending Short Sale” Considering typical 30 – 45 days for closing times after the inspection is satisfied, we could easily hit more than 325 homes being Sold in April which would be near a record looking back more than 2 years.  It’s exciting to see this kind of high sales activity hitting the Kitsap Real Estate Market.

If you have any questions or want to know what this means for your particular property or situation just call or email us.  We’re friendly and would be happy to talk with you and we also provide free property Market Value reports if you are thinking of selling your property.

Thank you for visiting our Blog. Be sure to Get the RSS feed with updated trends & discussions!

Brian Wilson, Broker
&
Jana Salmans, Managing Broker

John L. Scott Real Estate
19723 10th Ave NE; suite 200
Poulsbo, WA 98370
cell: 360-689-2466

jls_logo_trans_200x60

 

 

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

Poulsbo Real Estate Report for February 2013

Posted on March 27, 2013 by Briana Wilson
Poulsbo Home Sales & Prices February 2013 & 18 Months Prior

Poulsbo Home Sales & Prices February 2013 & 18 Months Prior

The Poulsbo Real Estate Market held steady from January to February 2013, with only a slight decrease in the number of Homes Sold from 22 to 21, but had nearly the same Median Selling Price of $310,464 and a $14K increase in the Average Selling Price to $292,997.

The previous month had an average selling price of $278,113 and a median selling price of $310,000, so as you can see the Median data is extremely similar.


Distressed properties during February accounted for only 9.5% of Home Sales in Poulsbo. This is a very low percentage and a significantly lower number than in January  when distressed sales (Short Sales & Bank Owned REO’s) comprised nearly 28% of the total number of homes sold.   It is impressive to see on the graph, that even while the number of homes sold decreased during the normal seasonal slowdown, home prices have remained firm. As we emerge from the Winter slow-down and wake up to Spring, Poulsbo Real Estate is doing well, sales are increasing and prices are strengthening.

Here’s a real-time overview and a sneak peak at the Real Estate activity in Poulsbo for the month of March:
Current Total Active Single Family Residential Homes For Sale: 139
– 16 or approximately 12% are distressed
– The Median asking price is $309,850
– The Average days on market is: 134 (Median DOM: 74)

New Active Listings Month-to-date in March: 45

Pending & Sold Sales Month-to-date in March: 53

Homes For Sale that are New Construction (including pre-sales): 17

In Poulsbo we are currently experiencing a shortage of move-in ready homes available for sale priced below $240,000.  When these properties do come onto the market, we see them go under contract very quickly.  So if you are a Buyer looking in this range, you would improve your chances of being the successful buyer by letting us know in advance so we can keep a watch on the market for you in real time.

Looking ahead, there is a lot of new construction activity ramping up in Poulsbo from builders; with the majority being planned and built by Quadrant Homes, Highmark Homes, Capstone Homes & Phase II, LLC.

If you are considering a new home purchase, we would be pleased to assist you and work for you as your Buyer Broker guiding and advising you through the home purchase process.

If you have been waiting for the market to improve before listing your home for sale, we think all signs indicate that now is a great time to act and we would love to talk with you and provide you with a current market value (CMA) for your home.  We’re friendly, so go ahead and give us a call.

Thank you for visiting our Blog. Let us know if you have any questions or would like additional information.

By Briana Wilson
Reviewed by Brian Wilson, Broker

jls_logo_trans_200x60

 

 

19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

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

Indianola & Suquamish Home Sales, Prices & Trends February 2013

Posted on March 25, 2013 by Briana Wilson
February 2013 Real Estate Sales, Prices & Trends Indianola & Suquamish

February 2013 Real Estate Sales, Prices & Trends Indianola & Suquamish

There were 4 Homes Sold in Indianola & Suquamish for the Month of February 2013. This was a 57% decrease in home sales from January 2013, which is slightly unexpected as we usually start to see an increase in Home Sales in February, as we begin to enter the spring season.

On a positive note, the number of distressed properties was only 1, a 46% improvement from the previous month.

The Average Selling Price of homes in this area during February 2013 was $233,625, with a Median Sale Price of $255,500. The average & median selling prices are much lower than January 2013 and February 2012 (one year ago).   With the data being comprised of only 4 sales, it’s very difficult to imply any particular trend, however; the lower Median Selling Price suggests more lower priced homes sold during this month.

The Spring Market is definitely in full swing, and here’s a small preview into what the data for March will look like.  Currently since the beginning of March, there have been 7 homes that have gone under contract “Pending Sale”, and there have been 5 Closed Sales.  We anticipate by the end of the month, that the number of closed sales will likely double the closed sales for the month of February and we believe prices will also show increases.

Another way to view the market in these areas is to compare the number of currently Active Homes for sale with the number or Pending and Sold Properties. over a given period.  Currently there are 30 homes available for sale and there are 28 Pending and Sold homes.  This represents a balance between the number of homes available and the number of homes Sold.

Looking at the average days on market, we see the Active Properties have been on the market an average of 180 days, while the Pending Properties are averaging 106 and the Sold Properties are at 76 days.  I think the interpretation of this is that the most compelling properties have been getting offers quickly and Selling quickly while the homes that are priced to high and not adjusting to the market or properties that are non-conforming in some way (those that have issues such as excessive deferred maintenance, and major structural issues) are sitting on the market longer.

With all of the positive forces acting on the market and the continuing relatively limited number of available properties for sale, I expect to see the entire market improving as we move forward from the present time.

Thank You for visiting our Blog.  If you would like an easy way to stay up with our blog, please be sure an subscribe to the RSS feed.  We also welcome your comments below and invite you to contact us if you have any questions or if you are thinking of buying or selling a home in the area.

By Briana Wilson
Reviewed by Brian Wilson, Broker

jls_logo_trans_200x60

 

 

19723 10th Ave NE; Suite 200
Poulsbo, WA 98370

Posted in Suquamish & Indianola Real Estate | Leave a comment