Kitsap County WA Real Estate Market Report for June 2007

Real Estate Market Report/Conditions for Kitsap County WA for 06/01/2007

The following is a quick analysis of the combined single-family home and condo market within Kitsap County, Washington, provided by Rich Jacobson of Windermere Real Estate, in Silverdale, WA.

• Properties currently active on the market: 1939  
• Properties closed in the last 180 days: 1501
• Average Sales Price: $303,188
• Average List Price: $308,108
• Ratio of List Price to Sales Price: 98%
• Average Days on Market: 90 days
• Sales Pending this Week: 61

The "Way We Were"comparative snapshot:

• Active Listings:                         2006 - 1159;   2007 - 1939
• Days on Market:                       2006 - 63;       2007 - 90
• Absorption Rate:                       2006 - 17;       2007 - 31.7
• LP/SP Ratio:                             2006 - 99;       2007 - 98%
• Closed Sales last 6 months:     2006 - 1758;   2007 - 1501

Current Market Conditions: Boy, talk about a really screwy market! Inventory continues to increase, but the pool of prospective Buyers has remained the same. As a result, we've seen a consistent number of price reductions across the board. New construction has slowed considerably. Activity for properties along Hood Canal has heated up, which is typical for this time of the year. Median prices for homes has gone up slightly, but the Listing Price-to-Sales Price ratio has dipped to 98%. Overall, it's still a very good market for both buying and selling here on the Kitsap Peninsula.

One of the best values on the market right now is my listing on Franklin Street in East Bremerton. Give me a call to schedule a private showing @ 360.440.4758

For more helpful information and resources concerning real estate and living in Kitsap County, Washington, access my comprehensive website, www.KitsapLife.com and my other blogsite, www.SOUNDBITEBLOG.com