December 2012 Home Sales, Prices & Trends for Indianola & Suquamish

Posted on January 14, 2013 by Briana Wilson
Graph of Sales, Prices & Trends for Indianola & Suquamish December 2012

Graph of Sales, Prices & Trends for Indianola & Suquamish December 2012

The slower Winter Real Estate season continues in these areas as the number of homes sold dropped from 6 to 5 in the areas of Indianola & Suquamish. Yet, there was  a significant increase in the average selling price compared to both the previous month and the same period last year.

Currently there are 36 homes listed in the NWMLS in these areas, so with only 5 homes Sold in December, this would equate to about a 7 month supply which statistically is a slow market.  However; a closer look at the data reveals some interesting facts.  Half of the homes currently available for sale are priced above $300,000.  With nearly 70% of the homes Sold in Kitsap being priced below $300,000., This means that for the active portion of the market, there really is only about a 3 month inventory, which is a strong seller biased market.

In summary, this area is currently a tale of three markets, the High End above $500,000 which is currently slow, the lowest end which is also slow and the properties priced just right which are moving quickly.

The average selling price of homes sold in Indianola & Suquamish during the month of December was $289,390, with a median selling price of $179,950.  Compared with the previous month (November 2012 ) The Average was up by about $100,000 while the Median was lower by about $60,000!   With such a few number of homes sold comprising the data, one high priced home sale greatly affects these data.

The interesting thing about this area is that there are price points and properties to attract just about any Buyer.  This is good for sellers, as the area attracts a diversity of buyers.

40% of home sales this month (2 homes) were distressed properties, specifically REO’s. This is expected during the slow months, as banks continue to introduce these homes onto the market at a regular frequency and a relatively consistent quantity month over month.  In months where there are fewer total sales, these distressed properties comprise a larger percentage of total sales, so in these months, these types of sales have a larger impact on the prices and the market.

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By Briana Wilson

Reviewed by Brian Wilson, Broker

 

 

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

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Bainbridge Island Home Sales, Prices and Trends for November 2012

Posted on December 11, 2012 by Briana Wilson
Bainbridge Island Home Sales and Prices November 2012

Bainbridge Island Home Sales and Prices November 2012

Bainbridge Island real estate sales during the month of November showed declines compared to October. This seasonal market decline was expected as we approach the slower winter months and will likely continue until about mid-February. 

The total number of homes sold during the month of November was 28, while October had 48.   October had extraordinary strong seasonal sales while November is exhibiting more normal seasonal levels.  Thus, the steep decline from October to November in the number of homes sold is not indicative of a poor market.  In fact, when we look the same period in 2011, only 22 homes were sold. Thus, November 2012 had a 27% increase in home sales compared to the same period last year!

The average and median selling price for November was $546,141 and $425,000, while October had $614,545 and $498,250.  The average selling price and median price for November 2012 and November 2011 were nearly the same, again reflecting a typical and normal seasonal real estate market on Bainbridge Island.

A positive indicator is the number of distressed property home sales (REO’s & Short Sales) declined by 50% from October to November and represented only about 11% of the total homes Sold during November.  We like this data.

Thank You for visiting our Blog.  If you are thinking of Selling or Buying a home in the area, feel free to contact us, as the slower winter season can have great opportunities and we would be happy to discuss your particular situation.

By Briana Wilson
Reviewed by Brian Wilson, Broker

 

 

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

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Real Estate Trends and Home Sales in Kitsap County November 2012

Posted on December 11, 2012 by Briana Wilson
November 2012 Home Sales and Trends in Kitsap County

November 2012 Home Sales and Trends in Kitsap County

{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}

The number of homes sold in Kitsap County followed a seasonal decline from October to November. The decline in home sales was expected as the busy holiday season began. However, the number of homes sold compared with the same month last year  increased by 19%! This is encouraging, and indicates that overall home sales are strong & continuing to improve year over year.

The  average selling price of homes sold in the month of November 2012 was $273,390, while it was $275,433 in November of the previous year.   The median price of homes sold during November 2011 was only $231,250, while it was $235,000 November of this year.    Even with all of the distressed and lower priced home sales, this shows some slight but meaningful price appreciation year over year in Kitsap County home prices.

There were 50 distressed property sales in November compared with 53 in October, so while this is a 6% decline in actual numbers, they represented about 22% of total sales for November compared with 19% in October.

Thank You for visiting our Blog.

By Briana Wilson,
Reviewed by Brian Wilson, Broker

 

 

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

 

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Poulsbo Real Estate Trends for November 2012 with 18 Months of Sales & Price Data

Posted on December 11, 2012 by Briana Wilson
Poulsbo Sales, Prices and Trends November 2012

Poulsbo Sales, Prices and Trends November 2012

Poulsbo real estate sales for the month of November 2012 were similar to the data for November of a year ago and also followed similar trends to Kitsap County as a whole.  The number of homes sold was only slightly reduced from the previous month (29 homes sold compared to 33), while the average selling price remained about the same.

The average selling price for the month of November was $296,182, while it was $297,959.  While the number of homes sold dropped slightly, the fact that selling prices remained at a consistent and strong level indicates that it is still a good time to sell your home on the market in Poulsbo!

While home sales are definitely slower during the holidays and the Winter months, there are also fewer homes available on the market, meaning less competition.  If you are planning to sell your home, being contrary and listing now may be an advantage compared to waiting until the Spring when the number of homes on the market will increase significantly.   In fact, in some price points and for certain types of properties there are almost no competing listings so there are great opportunities for selling your home now and we are available to help you get the best deals and fastest sale.

Distressed property sales in Poulsbo during November accounted for 14% of total sales, which is slightly less than the 15% during October and less than all of Kitsap County which was at 22% of sales for November.  Overall, Poulsbo is doing better than other areas in both consistency of selling prices & with consistently fewer distressed properties being sold.

Thank You for visiting our Blog.

By Briana Wilson
Reviewed by Brian Wilson, Broker

 

 

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

 

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November 2012 Real Estate Trends, Prices, and Sales Indianola and Suquamish

Posted on December 11, 2012 by Briana Wilson
Real Estate Sales, Prices and Trends for Indianola and Suquamish November 2012

Real Estate Sales, Prices and Trends for Indianola and Suquamish November 2012

For the month of November 2012, Indianola and Suquamish experienced steep declines in both average selling price and the number of homes sold. However, seasonal declines are expected for this time of the year and can be anticipated until about mid-February when the early Spring market begins.  On a positive note, the average selling price, median selling price, distressed properties, and number of homes sold are all greatly improved compared to November 2011!

The number of homes sold in Indianola and Suquamish during the month of November was 6, while October had 11 home sales. The average selling price declined in November  to $198,233, while last in October it was a whopping $373,541.

These large monthly price jumps can likely be attributed to the type of homes sold during November (or any month where we see dramatic changes up or down) when the median selling price was $237,000, while it was nearly $425,000 for October.  Thus, an abnormally large amount of high-value properties were sold during the month of October and the opposite happened during November.  We have seen these dramatic monthly changes in these market areas for the past couple of years, and with the relatively small number of data points overall and in any given month (home sales in these areas) it is important  to look at the data over a longer period of time to extrapolate any meaningful trends.   This is why the graph includes the current month plus 18 months prior data.

There was only 1 (17%) distressed property sold in the combined area of Suquamish and Indianola during November 2012!, while November one year ago had 3.

Thank You for visiting our Blog.

By Briana Wilson
Reviewed by Brian Wilson, Broker

 

 

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

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Kingston, Hansville and Port Gamble Real Estate Prices, Sales and Trends November 2012

Posted on December 11, 2012 by Briana Wilson
Kingston, Hansville and Port Gamble Real Estate Trends and Prices November 2012

Kingston, Hansville and Port Gamble Real Estate Trends and Prices November 2012

The number of homes Sold in these combined areas for November dropped below the running average for the last 6 months but were in line with seasonal sales expectations.   Prices however; saw huge jumps from October levels for each of the categories tracked: The Average initial asking prices for those that Sold were up over 50%.  The average price at which an offer was accepted and the average actual selling prices were up ~ 47% and 48%  respectively, and the median selling price was up 45%!   So while the number of homes that Sold were down compared with October and compared with the running 6 month average, the prices for those that did Sell were up significantly indicating sales oriented toward the higher end of the market dominated for November.   Further, there was a marked decreased in the number of distressed properties sold.

Here’s the actual data which is also shown on the graph:
The average selling price for November was $414,546, which is $135,241 more than October! Further, the median selling price of $394,750 was up $122,400 from the October median sales price!

Distressed property sales during October only accounted for 1 of the 12 properties sold (8%)! This is a great improvement from the 25% percent for October and November of 2011.

Thank You for visiting our Blog. Feel free to contact us with any questions!

By Briana Wilson
Reviewed by Brian Wilson, Broker

 

 

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

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Real Estate Trends, Sales & Prices in Poulsbo for October 2012

Posted on November 5, 2012 by Brian Wilson
Graph of Poulsbo Home Sales, Prices & Trends for October 2012 & 18 Mo Prior

Poulsbo Home Sales, Prices & Trends for October 2012 & 18 Mo Prior

Real Estate sales in Poulsbo during October showed 7% gains for the Average and Median Selling prices with the Average going from just over $279,000 in September to nearly $298,000 in October.  The median selling price jumped from just over $281,000 in September to $302,000 in October.

While all gains are good they are less than the gains in the other areas in North Kitsap.   Compared with the County-wide data, the average selling price in Poulsbo had a lower gain, while the Median price gain was higher.  It’s important to keep in mind that while it is encouraging to see gains month over month, the longer term trends are most important.  Looking back to the same period (October) a year ago, we see the number of sales are identical at 33 homes Sold but the average selling price is higher by just over 2%.

As compared to some of the other areas in North Kitsap, Poulsbo has had a longer term trend of consistent monthly gains in unit sales and selling prices that have fluctuated in a relatively narrow band, but have been biasing higher over the last few months.  We see normal seasonal unit sales declines with continuing firm pricing.  This is all good.  If you are a future Buyer, you can expect firming prices but the market is not frenzied and leaving you behind, yet.

If you are a seller, you can expect to sell you home in a reasonable time frame, which has been just over 100 days on average, but was less than 80 days in October.  By the way, there are some very good strategies we know and would share one-on-one that will statistically get a deal on your home in less than 30 days.

The average selling price is getting negotiated down less than it was a year ago (about 2.2%) from the last asking price where an offer was received, and there are still Buyer closing costs being negotiated, but dramatic “fire sale” pricing (by Poulsbo standards anyway) appears to be a thing of the past….while keeping one raised eye at the macro economic factors.

Distressed property sales in Poulsbo for October was at 5 REO (Bank Owned) or Short Sales, while there were 6 during the month of September.  This was below the County-wide average and inline with the Bainbridge Island data, since Poulsbo has not been as severely impacted by distressed home sales as some other areas in Kitsap County

Thank you for visiting our Blog and we hope you found it useful and interesting.  Please let us know if you have any questions or comments.

Brian Wilson, Broker
Jana Salmans, Managing Broker

 

 

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

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Real Estate Trends, Sales & Prices on Bainbridge Island for October 2012

Posted on November 5, 2012 by Brian Wilson
Graph of Bainbridge Island Home Sales, Prices and Trends for October 2012

Bainbridge Island Home Sales, Prices and Trends for October 2012

Real Estate sales, prices & trends on Bainbridge Island for the month of October were all significantly higher than in September.  This is a County-wide trend, but North Kitsap and Bainbridge Island had increases significantly above the County averaged data.

The number of homes Sold jumped from 35 in September to 48 in October which is an increase of over 31% month over month and near monthly highs for over 18 months. 

The Average Selling price jumped a whopping 27% from just over $483,000 in September to nearly $615,000 in October!  Incredibly, the median price for all homes sold during October also jumped nearly 26%,  from $395,500 to $498,250!  This increase was nearly the same as the increase for the average selling price.  A strong performance indeed!

Distressed property sales (REO & Short Sales) remained at a low of only 15% of the homes Sold which is less than the number of distressed sales in September and lower than the County as a whole.

Thank you for visiting our Blog.

Brian Wilson, Broker &
Jana Salmans, Managing Broker

 

 

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

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Indianola and Suquamish Real Estate Sales, Prices and Trends for the month of October 2012

Posted on November 5, 2012 by Brian Wilson
Graph of Indianola & Suquamish Home Sales, Prices & Trends for October 2012

Indianola & Suquamish Home Sales, Prices & Trends for October 2012

As with Kitsap County as a whole, Real Estate sales and prices had significant increases in Indianola & Suquamish during the month of October as compared to September and in fact as with other North Kitsap communities, the gains were much higher than the County-wide improvement.

The number of homes Sold increased from 4 to 11, with the average selling price jumping from about $328,000 in September, to nearly $374,000 in October;  a gain of 14% month over month.  The median selling price skyrocketed from $about $281,000 in September to $425,000 in October, an impressive 51% gain!

Very interestingly, the percentage of sold homes in Indianola & Suquamish that were distressed (REO, bank-owned foreclosures or Short Sales) was about 18% (2 homes), which follows about in line with the data for other communities and the County as a whole.  So regardless of the area, or sales volume, the distressed sales were reasonably consistent across all areas at near the lows we’ve seen for a very long time.

Thank you for visiting our Blog.

Brian Wilson, Broker &
Jana Salmans, Managing Broker

 

 

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

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Real Estate Sales, Prices & Trends in Port Gamble, Hansville & Kingston for October 2012

Posted on November 5, 2012 by Brian Wilson
Graph of Port Gamble, Hansville, Kingston Home Sales Trends for October 2012

Port Gamble, Hansville, Kingston Home Sales Trends for October 2012

Real Estate sales in Port Gamble, Hansville & Kingston followed the Kitsap County trend with large gains in the number of homes sold, the average selling price and the median selling price.  During the month of October there were 20 homes sold in this combined area which was the second highest number going back more than 18 months.  The average selling price increased from about $221,000 in September to over $279,000 in October; a gain of over 26%!.  The median home price also increased significantly from just under $220,000, to over $272,000, a gain of over 23%! 

There were the same number of distressed properties sold (5) during October as during September, however; with a higher number of homes being Sold, the percentage of properties that were distressed (REO, bank owned foreclosures and Short Sales) dropped to 25% of the total homes Sold.

It’s terrific to see both the average and median prices gaining significantly &  comparably and while following a positive trend in the County as a whole the data shows these communities actually outperformed the County-wide trends.

Thank you for visiting our Blog.

Brian Wilson, Broker &
Jana Salmans, Managing Broker

 

 

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

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